Four-Unit Multifamily Residence with
38-40 Cliff Street Oneonta, NY 13820
38-40 Cliff Street, Oneonta, NY, 13820
$375,000
Pending
For Sale
$375,000
Pending
MULTI_FAMILY - Other - Oneonta, NY
Property Size3,104 SF
Lot Size0.16 Acres
Days on Market48
Property Features for 38-40 Cliff Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 10
- Bathrooms
- 4
- Rooms
- Bathroom 1, Bedroom 9, Bedroom 2, Bedroom 6, Bathroom 4, Bedroom 7, Bathroom 2, Bedroom 5, Bathroom 3, Bedroom 3, Bedroom 1, Bedroom 8, Bedroom 10, Bedroom 4, Basement
- Patio and Porch features
- Deck
- Exterior features
- Deck
- Appliances
- GasWaterHeater
- Standard status
- Pending
- APN
- 300.5-4-59.00
- Size
- 3,104 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Annual Amount
- 5946
Utilities
- Heating system
- Forced Air, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 2
- Number of units
- 4
- Flooring type
- Varies, Vinyl, Carpet
- Building materials
- Frame, VinylSiding
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency
Benson Agency Real Estate LLC
(607) 432-4391
One Grand Street, Oneonta, NY
Listed by
Rodger B Moran · License #30MO0797197
(607) 287-1559
Added: Jun 3 Updated: Jul 12 at 9:35 am Checked: Jul 20 at 2:06 pm
MLS# R1687928
Listing URL
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-unit multifamily property (38–40 Cliff Street) contains a total of 10 bedrooms, configured as two 3-bedroom units and two 2-bedroom units. The home features a spacious front enclosed entry porch for shared use by tenants, along with a rear 2nd-floor deck serving the two second-floor units and separate rear entry decks for each first-floor tenant. Each unit is equipped with a dishwasher, and there is coin-operated laundry in the basement. According to the remarks, the property was completely gutted in the 1990s, with electrical, plumbing, and wiring completed at that time. Utilities are separate.
The building includes ample rear parking for tenants. The seller also notes the property may be purchased together with the home next door at 34–36 Cliff St, a separate four-family offering (MLS R1687927). The remarks further indicate proximity to downtown and city bus lines.
The unit mix and in-unit dishwashers make the property straightforward for everyday rental needs, while separate utilities can simplify billing for tenants. The listing states one-year leases are currently in place. For buyers evaluating current operations, the remarks include stated annual income of $51,600 and detailed expense totals, resulting in an NOI of $35,429, as well as a cited 12% return based on the provided figures and assumptions.
The building includes ample rear parking for tenants. The seller also notes the property may be purchased together with the home next door at 34–36 Cliff St, a separate four-family offering (MLS R1687927). The remarks further indicate proximity to downtown and city bus lines.
The unit mix and in-unit dishwashers make the property straightforward for everyday rental needs, while separate utilities can simplify billing for tenants. The listing states one-year leases are currently in place. For buyers evaluating current operations, the remarks include stated annual income of $51,600 and detailed expense totals, resulting in an NOI of $35,429, as well as a cited 12% return based on the provided figures and assumptions.
Key Highlights
- 10‑bedroom, 4‑family home with about 3,100 SF and two 3‑bedroom units plus two 2‑bedroom units
- Separate utilities and ample rear parking area for tenants
- Multi‑level outdoor space: spacious front enclosed entry porch plus rear decks (including a rear 2nd‑floor deck)
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.0k | $13.20 |
| − Vacancy | −$2.3k | −$0.73 |
| EGI | $38.7k | $12.47 |
| − OpEx | −$11.6k | −$3.74 |
| NOI | $27.1k | $8.73 |
3,104 SF · lease $13.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$387.2K
$338.8K – $451.7K
NOI $27,104 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$361.4K
$316.3K – $421.7K
NOI $25,301 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$855.6K
$748.7K – $998.3K
NOI $59,895 @ 7.0% cap · market cap 15.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four-unit rental with separate utilities, coin-op laundry, and ample rear parking for tenant convenience.
Where is this quadplex located?
The property is located at 38-40 Cliff Street Oneonta, NY.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 10‑bedroom, 4‑family home with about 3,100 SF and two 3‑bedroom units plus two 2‑bedroom units; Separate utilities and ample rear parking area for tenants; Multi‑level outdoor space: spacious front enclosed entry porch plus rear decks (including a rear 2nd‑floor deck)
