Four-Unit Multi-Family Corner
For Sale
$329,900
Pending
39 Fair Street, Oneonta, NY 13820
MULTI_FAMILY - Other - Oneonta, NY
Property Size1,818 SF
Lot Size0.08 Acres
Days on Market96
Property Features for 39 Fair Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 1, Bathroom 4, Bedroom 4, Bathroom 2, Bedroom 2
Parking
4
Parking features
Off Street
Patio and Porch features
Porch
Interior features
High Speed Internet
Basement
Full
Elementary school district
Oneonta
Middle school district
Oneonta
High school district
Oneonta
Directions
Get on I-88 W in Richmondville from NY-10 S/NY-7 W, (3.2 mi) Follow I-88 W to NY-23 W in Oneonta. Take exit 15 from I-88 W (33.0 mi) Continue on NY-23 W. Drive to Fair St (0.9 mi) to home
Standard status
Pending
APN
361200 300.6-3-69
Size
1,818 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
3825
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Water source
Public
Amenities
off-street parking
heat included
hot water included
internet included
Building Details
Year built
1985
Number of units
4
Flooring type
Carpet, Laminate
Building materials
Vinyl Siding
Roof type
Rubber, Shingle, Asphalt
Architectural style
Other
Listing Agency:
Country Boy Realty
(518) 234-4371
Listed By:
Matthew Loder · License #10311204132
(518) 378-1235
Added: May 19
Changed: Aug 7
Last Checked: Aug 22 at 8:06AM
MLS# 202617548
Copyright © 2026 Global MLS, Inc. 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 well-maintained four-unit multi-family building is positioned on a corner lot and arranged as four 1-bedroom, 1-bath residences. Recent updates are noted, along with a newer high-efficiency natural gas boiler for mechanical reliability. The property also includes dedicated off-street parking and a simplified utility approach, with the current owner providing heat, hot water, and internet for tenants.
Located at 39 Fair Street in Oneonta, the building borders Fox Hospital, supporting a convenient relationship to area healthcare needs. It is described as being just minutes from downtown, colleges, shopping, and dining, placing daily amenities within a short drive for residents.
Designed for steady day-to-day occupancy, the uniform 1-bedroom layout can appeal to both investors seeking a consistent unit mix and owner-occupants looking to live in one unit while renting the remaining three. With heat, hot water, and internet handled by the owner and with the boiler upgrade already completed, the building offers a more straightforward operating setup for tenants and an easier management routine for the next owner.
Located at 39 Fair Street in Oneonta, the building borders Fox Hospital, supporting a convenient relationship to area healthcare needs. It is described as being just minutes from downtown, colleges, shopping, and dining, placing daily amenities within a short drive for residents.
Designed for steady day-to-day occupancy, the uniform 1-bedroom layout can appeal to both investors seeking a consistent unit mix and owner-occupants looking to live in one unit while renting the remaining three. With heat, hot water, and internet handled by the owner and with the boiler upgrade already completed, the building offers a more straightforward operating setup for tenants and an easier management routine for the next owner.
Key Highlights
- 4‑unit multi‑family property with 4 separate 1‑bedroom, 1‑bath units
- Corner lot location in Oneonta, bordering Fox Hospital
- Tenants receive heat, hot water, and high‑speed internet
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
$15,874
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
4.81%
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%
$317,480
$317.5K
Cap Rate 7%
$226,771
$226.8K
Cap Rate 9%
$176,378
$176.4K
Market Conditions
NOI Build-Up for 1,818 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
$24.0K $13.20/SF
− Vacancy
−$1.3K −$0.73/SF
EGI
$22.7K $12.47/SF
− OpEx
−$6.8K −$3.74/SF
NOI
$15.9K $8.73/SF
Area
Otsego County, NY
Vacancy
5.50%
Lease Rate
$13.20 /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%
$317,480
Cap Rate 7%
$226,771
Cap Rate 9%
$176,378
Alternative Uses
Best Use
Multifamily LT 5
$226.8K
$198.4K – $264.6K
NOI $15,874 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$211.7K
$185.2K – $247.0K
NOI $14,819 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$501.1K
$438.5K – $584.7K
NOI $35,080 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
898
Businesses Nearby
Explore this area
Business Placement
Demographics for 13820, NY
21,605
Population
10,083
Households
2.1
Avg Household Size
30
Median Age
40%
College-Educated
91%
High-School Grad
107.3 sq mi
ZIP Area
201
Density / Sq Mi
$66,217
Median Household Income
$26,154
Median Earnings
$983
Median Rent
$176,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained fourplex with four 1-bedroom units, dedicated off-street parking, and a newer high-efficiency natural gas boiler.
Where is this quadplex located?
The property is located at 39 Fair Street Oneonta, NY.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: 4‑unit multi‑family property with 4 separate 1‑bedroom, 1‑bath units; Corner lot location in Oneonta, bordering Fox Hospital; Tenants receive heat, hot water, and high‑speed internet
