Two-Unit Residential Income
For Sale
$154,900
Pending
401 Stone St, Oneida, NY 13421
Two separate units with in-unit laundry and a detached garage offer rental income flexibility or owner-occupant living.
Property Size1,579 SF
Lot Size0.19 Acres
Days on Market50
Property Features for 401 Stone St
General Information
Standard status
Pending
Size
1,579 SF
Lot size
0.19 Acres
Property subtype
Multi Family
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,921
Building Details
Building Size
1,579 SF
Year Built
1874
Stories
2
Units
2
Listing Agency:
Kay Real Estate
(315) 363-9191
Listed By:
Janet Mautner
(315) 363-9191
Source:
Elliman
Added: Jul 2
Changed: Aug 8
Last Checked: Aug 19 at 8:52AM
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 Kay Real Estate
Investment Insights
Based on property information with market context.
This well maintained two-family home sits on a 0.19-acre lot and is designed for comfortable, separate living. Both units include appliances and have dedicated laundry areas for added convenience. The lower unit offers a covered front porch, a spacious living room, an eat-in kitchen with appliances, two bedrooms, a full bath, and in-unit laundry with a washer and dryer. The upper unit features its own private entrance, a living room, an eat-in kitchen with appliances, one bedroom, a full bath, and dedicated laundry in the basement with a washer and dryer.
The property includes a nice size yard with a fenced area, along with a 1.5-car detached garage for additional storage and parking. It is located in the City of Oneida near shopping, dining, schools, and other local amenities.
For buyers seeking a straightforward residential income setup, the separate entrances and laundry conveniences can support day-to-day tenant comfort. Owner occupants also benefit from the independent unit arrangement, making it practical to live in one unit while using the other for rental income.
The property includes a nice size yard with a fenced area, along with a 1.5-car detached garage for additional storage and parking. It is located in the City of Oneida near shopping, dining, schools, and other local amenities.
For buyers seeking a straightforward residential income setup, the separate entrances and laundry conveniences can support day-to-day tenant comfort. Owner occupants also benefit from the independent unit arrangement, making it practical to live in one unit while using the other for rental income.
Key Highlights
- Two‑family home built in 1874 on a 0.19‑acre lot in the City of Oneida
- Lower unit includes covered front porch, 2 bedrooms, full bath, eat‑in kitchen with appliances, and in‑unit laundry with washer/dryer
- Upper unit has a private entrance, 1 bedroom, full bath, eat‑in kitchen with appliances, and dedicated basement laundry with washer/dryer
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
$14,094
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
9.10%
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%
$281,880
$281.9K
Cap Rate 7%
$201,343
$201.3K
Cap Rate 9%
$156,600
$156.6K
Market Conditions
NOI Build-Up for 1,579 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
$21.8K $13.80/SF
− Vacancy
−$1.7K −$1.05/SF
EGI
$20.1K $12.75/SF
− OpEx
−$6.0K −$3.83/SF
NOI
$14.1K $8.93/SF
Area
Madison County, NY
Vacancy
7.60%
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%
$281,880
Cap Rate 7%
$201,343
Cap Rate 9%
$156,600
Alternative Uses
Best Use
Multifamily LT 5
$201.3K
$176.2K – $234.9K
NOI $14,094 @ 7.0% cap · market cap 9.10%
Second Best
Apartment 5plus
$182.2K
$159.4K – $212.5K
NOI $12,752 @ 7.0% cap · market cap 8.23%
Theoretical Best
Industrial
$530.3K
$464.0K – $618.7K
NOI $37,121 @ 7.0% cap · market cap 23.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
528
Businesses Nearby
Explore this area
Business Placement
Demographics for 13421, NY
12,807
Population
5,953
Households
2.2
Avg Household Size
44
Median Age
26%
College-Educated
90%
High-School Grad
40.1 sq mi
ZIP Area
319
Density / Sq Mi
$63,732
Median Household Income
$42,189
Median Earnings
$846
Median Rent
$147,800
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 - Two separate units with in-unit laundry and a detached garage offer rental income flexibility or owner-occupant living.
Where is this duplex located?
The property is located at 401 Stone St Oneida, NY.
What is the asking price?
The asking price for this property is $154,900.
What are key features of this property?
This property features: Two‑family home built in 1874 on a 0.19‑acre lot in the City of Oneida; Lower unit includes covered front porch, 2 bedrooms, full bath, eat‑in kitchen with appliances, and in‑unit laundry with washer/dryer; Upper unit has a private entrance, 1 bedroom, full bath, eat‑in kitchen with appliances, and dedicated basement laundry with washer/dryer
