Spacious Duplex on Corner
For Sale
Contact for pricing
Pending
4 8th St, Oneonta, NY 13820
Well-maintained duplex near schools and hospital with income potential.
Property Size2,581 SF
Days on Market208
Property Features for 4 8th St
General Information
Standard status
Pending
Size
2,581 SF
Property subtype
Multifamily
Building Details
Year Built
1940
Buildings
1
Stories
2
Units
2
Listing Agency:
Benson Agency Real Estate
(607) 434-5972
Listed By:
Elizabeth Shultis · License #NY 49SH0935322
Source:
Crexi
Added: Jan 23
Changed: Aug 8
Last Checked: Jul 24 at 10:05AM
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 Benson Agency Real Estate
Investment Insights
Based on property information with market context.
This well-maintained duplex is located steps from Valleyview Elementary School and close to A.O. Fox Hospital and downtown. Each apartment features 3 bedrooms with separate heat and electric. New windows have been installed throughout the property. A Certificate of Compliance is provided. The property is situated on a corner lot and offers an excellent income potential. Month-to-month tenants are currently in place, paying $1,150 and $950 plus utilities. The property, with a size of 2581 square feet, is ideal for an owner-occupant seeking additional rental income or a solid investment opportunity.
Key Highlights
- Excellent Income Potential: Well‑maintained duplex with month‑to‑month tenants.
- Three bedrooms in each apartment with separate heat and electric.
- New windows throughout the property.
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
$21,038
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
8.77%
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%
$420,760
$420.8K
Cap Rate 7%
$300,543
$300.5K
Cap Rate 9%
$233,756
$233.8K
Market Conditions
NOI Build-Up for 2,581 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
$40.3K $15.60/SF
− Vacancy
−$2.0K −$0.78/SF
EGI
$38.3K $14.82/SF
− OpEx
−$17.2K −$6.67/SF
NOI
$21.0K $8.15/SF
Area
Otsego County, NY
Vacancy
5.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
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%
$420,760
Cap Rate 7%
$300,543
Cap Rate 9%
$233,756
Alternative Uses
Best Use
Multifamily LT 5
$322.0K
$281.7K – $375.6K
NOI $22,537 @ 7.0% cap · market cap 9.39%
Second Best
Apartment 5plus
$300.5K
$263.0K – $350.6K
NOI $21,038 @ 7.0% cap · market cap 8.77%
Theoretical Best
Office A
$711.5K
$622.5K – $830.1K
NOI $49,803 @ 7.0% cap · market cap 20.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
279
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
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex near schools and hospital with income potential.
Where is this duplex located?
The property is located at 4 8th St Oneonta, NY.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Excellent Income Potential: Well‑maintained duplex with month‑to‑month tenants.; Three bedrooms in each apartment with separate heat and electric.; New windows throughout the property.
