Updated Two-Unit
For Sale
$249,900
45 Grove Street, Oneonta, NY 13820
Residential, Oneonta, NY
Property Size2,422 SF
Lot Size0.77 Acres
Price / SF$103.18
Days on Market54
Property Features for 45 Grove Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bathroom 4, Bathroom 5, Bathroom 3, Bedroom 7, Bedroom 1, Basement, Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 5, Bedroom 6, Bathroom 2
Parking features
Garage, Paved or Surfaced
Patio and Porch features
Porch
Interior features
CeilingFans
Appliances
ElectricWaterHeater
Lot features
Irregular Lot, Residential Lot
Elementary school district
Oneonta
Middle school district
Oneonta
High school district
Oneonta
Subdivision
Oneonta-City-361200
Standard status
Active
APN
300.5-4-48
Size
2,422 SF
Lot size
0.77 Acres
Taxes and HOA fees
Tax Annual Amount
5696
Utilities
Heating system
Hot Water(Heating), Natural Gas
Water source
Public
Amenities
in-unit laundry
off-street parking
front porch
eat-in kitchen
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Tile, Varies, Carpet, Vinyl
Building materials
Frame
Roof type
Metal
Architectural style
Other
Listing Agency:
Oneonta Realty, LLC
(607) 441-7312
Listed By:
Christine Keto · License #30KE1019431
(607) 287-8458
Added: Jul 20
Changed: Sep 11
Last Checked: Sep 11 at 5:06PM
MLS# R1700205
Copyright © 2026 New York State Alliance of MLSs, LLC. 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 two-unit duplex contains 2,422 square feet on a 0.77-acre parcel. The first-floor apartment offers four bedrooms, an eat-in kitchen, and in-unit laundry, while the upper apartment includes three bedrooms and its own laundry. Both apartments have been updated over the past few years and are served by separate utilities. The property also includes off-street parking, a garage, a front porch, a metal roof, frame construction, and public water. Heating is provided by natural gas hot water systems.
Built in 1900, the property is located near downtown, a bus route, and colleges. Cooperstown All Star Village is approximately 2 miles away. The property is situated in a zone where weekly rental permits are permitted.
Built in 1900, the property is located near downtown, a bus route, and colleges. Cooperstown All Star Village is approximately 2 miles away. The property is situated in a zone where weekly rental permits are permitted.
Key Highlights
- Two‑unit duplex with 2,422 square feet on 0.77 acres
- First‑floor apartment has 4 bedrooms, eat‑in kitchen, and in‑unit laundry
- Upper apartment includes 3 bedrooms and in‑unit laundry
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
$21,148
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
8.46%
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%
$422,960
$423.0K
Cap Rate 7%
$302,114
$302.1K
Cap Rate 9%
$234,978
$235.0K
Market Conditions
NOI Build-Up for 2,422 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
$32.0K $13.20/SF
− Vacancy
−$1.8K −$0.73/SF
EGI
$30.2K $12.47/SF
− OpEx
−$9.1K −$3.74/SF
NOI
$21.1K $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%
$422,960
Cap Rate 7%
$302,114
Cap Rate 9%
$234,978
Alternative Uses
Best Use
Multifamily LT 5
$302.1K
$264.4K – $352.5K
NOI $21,148 @ 7.0% cap · market cap 8.46%
Second Best
Apartment 5plus
$282.0K
$246.8K – $329.0K
NOI $19,742 @ 7.0% cap · market cap 7.90%
Theoretical Best
Office A
$667.6K
$584.2K – $778.9K
NOI $46,735 @ 7.0% cap · market cap 18.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,000
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two updated apartments offer separate utilities, in-unit laundry, off-street parking, and a front porch.
Where is this duplex located?
The property is located at 45 Grove Street Oneonta, NY.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,422 square feet on 0.77 acres; First‑floor apartment has 4 bedrooms, eat‑in kitchen, and in‑unit laundry; Upper apartment includes 3 bedrooms and in‑unit laundry
