Fully Furnished
New
For Sale
$199,900
38 Oak Street, Deposit, NY 13754
Updated two-level duplex with independent entrances, flexible C-1 zoning, and separate living accommodations.
Property Size1,336 SF
Price / SF$149.63
Days on Market1
Property Features for 38 Oak Street
General Information
Standard status
Active
Size
1,336 SF
Property subtype
Multi-Family
Zoning
C-1
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Furnished
Yes
Highway Access
Yes
Amenities
walk-up attic
laundry room
Building Details
Year Built
1950
Buildings
1
Listing Agency:
Keller Williams Upstate NY Properties
Listed By:
Jami Brown · License #OD2960
(515) 708-1518
Source:
716realtygroup
Added: Sep 8
Last Checked: Sep 8 at 2:33PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Upstate NY Properties
Investment Insights
Based on property information with market context.
This fully furnished duplex, built in 1950, is arranged across two levels with separate entrances and defined living areas. The upper unit includes three bedrooms, one full bathroom, a half bathroom, and walk-up attic storage. The lower unit provides one bedroom, one full bathroom, and a laundry room equipped with washers and dryers serving both units. Recent work includes kitchen and bathroom updates, HVAC replacement, upgraded electrical and plumbing systems, new flooring, and new appliances.
Zoned Commercial (C-1), the property supports a range of documented possibilities, including single-family or multifamily residential use, an owner-occupied arrangement, residential investment use, professional offices, or a combination of uses. Its position just off Route 17 near Exit 84 places the property within less than 2.5 hours of the George Washington Bridge, with access to the Delaware River, the Catskills, and year-round recreation.
Zoned Commercial (C-1), the property supports a range of documented possibilities, including single-family or multifamily residential use, an owner-occupied arrangement, residential investment use, professional offices, or a combination of uses. Its position just off Route 17 near Exit 84 places the property within less than 2.5 hours of the George Washington Bridge, with access to the Delaware River, the Catskills, and year-round recreation.
Key Highlights
- Two‑level duplex with separate entrances and defined living spaces
- Upper unit has 3 bedrooms, 1.5 bathrooms, and walk‑up attic storage
- Lower unit includes 1 bedroom, 1 full bathroom, and laundry room
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,938
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$238,760
$238.8K
Cap Rate 7%
$170,543
$170.5K
Cap Rate 9%
$132,644
$132.6K
Market Conditions
NOI Build-Up for 1,336 SF
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.
Gross rent
$18.4K $13.80/SF
− Vacancy
−$1.4K −$1.04/SF
EGI
$17.1K $12.77/SF
− OpEx
−$5.1K −$3.83/SF
NOI
$11.9K $8.94/SF
Area
Broome County, NY
Vacancy
7.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$238,760
Cap Rate 7%
$170,543
Cap Rate 9%
$132,644
Alternative Uses
Best Use
Multifamily LT 5
$170.5K
$149.2K – $199.0K
NOI $11,938 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$159.0K
$139.1K – $185.5K
NOI $11,130 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$331.5K
$290.0K – $386.7K
NOI $23,202 @ 7.0% cap · market cap 11.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,301
Businesses Nearby
Explore this area
Business Placement
Demographics for 13754, NY
2,912
Population
1,990
Households
1.5
Avg Household Size
47
Median Age
14%
College-Educated
94%
High-School Grad
77.9 sq mi
ZIP Area
37
Density / Sq Mi
$59,583
Median Household Income
$37,500
Median Earnings
$753
Median Rent
$126,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Updated two-level duplex with independent entrances, flexible C-1 zoning, and separate living accommodations.
Where is this duplex located?
The property is located at 38 Oak Street Deposit, NY.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two‑level duplex with separate entrances and defined living spaces; Upper unit has 3 bedrooms, 1.5 bathrooms, and walk‑up attic storage; Lower unit includes 1 bedroom, 1 full bathroom, and laundry room
