Four-Unit Residential Income
38-40 Cliff St, Oneonta, NY 13820
New
Multi-Unit (5+) - Oneonta, NY
Property size:
3,104 SFLot size:
0.16 AcresPrice / SF:
$120/SF- Added:
- Jun 5, 2026
- Days on Market:
- 1
- Last Refresh:
- Jun 5 at 3:06 pm
Property Features for 38-40 Cliff St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bathrooms
- 4
- Rooms
- Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Kitchen
- Parking features
- Garage
- Basement Y/N
- 1
- Standard status
- Active
- APN
- 361200-300.005-0004-059.000
- Size
- 3,104 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Annual Amount
- 5946
Utilities
- Heating system
- Forced Air, Natural Gas
Building Details
- Year built
- 1900
- Year renovated
- 1900
- Floors in Building
- 2
- Flooring type
- Carpet, Vinyl
- Building materials
- Vinyl Siding
- Roof type
- Asphalt
- Architectural style
- Other
Listing agent Rodger B Moran (607) 432-4391
Listing office BENSON AGENCY REAL ESTATE LLC 1 GRAND ST, ONEONTA, NY (607) 432-4391
Listing date Jun 5, 2026
MLS# 11801791
Listing URL
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- 10‑bedroom, 4‑family home with 2 units that are 3‑bedroom and 2 units that are 2‑bedroom
- Approx. 3,100 sq ft property featuring an enclosed front entry porch for tenants
- Coin‑op laundry in basement; utilities are separate
- Basement with multiple bathrooms (Bathroom 1 through Bathroom 4) plus kitchen in the home layout
- All units include dishwashers; roof is asphalt and exterior is vinyl siding
- Recent major renovation: home completely gutted in the '90s with electrical, plumbing, and wiring completed then
Overview
This 4-family, 10-bedroom residential income property provides a mix of two 3-bedroom units and two 2-bedroom units. The home includes a spacious enclosed front entry porch for all tenants, plus outdoor space configured for each level: a rear 2nd-floor deck shared by the 2nd-floor tenants and separate rear entry decks for each first-floor tenant. Interiors are described as spacious, with generous closets and dishwashers in the apartments. Laundry is available via coin-op service in the basement.
The building is located in Oneonta, NY, just minutes to downtown and city bus lines. Utilities are separate, which can simplify tenant billing. There is ample rear parking available for tenants. Per the available history, the home was completely gutted in the 1990s, with electrical, plumbing, and wiring completed at that time.
As a tenancy-ready option, the property has one-year leases in place. For the subject property referenced as 38-40 Cliff St, stated annual income is $51,600, with total expenses listed at $16,171 (including taxes, water/sewer, insurance, trash, snow, and maintenance/vacancy). The provided figures indicate NOI of $35,429, with mortgage expense described using $375,000 and financing terms of 20% down and $300k at 6.25% for 20 years, resulting in net income of $9,113 and a return calculation based on the stated down payment.
The building is located in Oneonta, NY, just minutes to downtown and city bus lines. Utilities are separate, which can simplify tenant billing. There is ample rear parking available for tenants. Per the available history, the home was completely gutted in the 1990s, with electrical, plumbing, and wiring completed at that time.
As a tenancy-ready option, the property has one-year leases in place. For the subject property referenced as 38-40 Cliff St, stated annual income is $51,600, with total expenses listed at $16,171 (including taxes, water/sewer, insurance, trash, snow, and maintenance/vacancy). The provided figures indicate NOI of $35,429, with mortgage expense described using $375,000 and financing terms of 20% down and $300k at 6.25% for 20 years, resulting in net income of $9,113 and a return calculation based on the stated down payment.
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 Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Oneonta
- County
- Otsego
- State
- New York
- Longitude
- -75.067587
- Latitude
- 42.452424
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Tenants benefit from separate utilities, ample rear parking, and in-building coin-op laundry.
Where is this quadplex located?
The property is located at 38-40 Cliff St 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 2 units that are 3‑bedroom and 2 units that are 2‑bedroom; Approx. 3,100 sq ft property featuring an enclosed front entry porch for tenants; Coin‑op laundry in basement; utilities are separate
