Fully Rented
For Sale
$299,000
5-7 Washington St, Oneonta, NY 13820
Two three-bedroom units create a fully occupied residential income property in a central location.
Property Size2,392 SF
Price / SF$125
Days on Market55
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Property Features for 5-7 Washington St
General Information
Standard status
Active
Size
2,392 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Keller Williams Upstate NY Properties
Listed By:
Anthony Heath · License #10401359601
(607) 267-3166
Source:
Skinnercnyrealty
Added: Aug 22
Changed: Oct 13
Last Checked: Oct 7 at 4:00PM
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.
Built in 1900, this duplex contains two residential units, each with 3 bedrooms. The property is fully rented, providing an in-place tenant base and established operating history for a multifamily buyer.
Located at 5-7 Washington Street in Oneonta, the property sits in the center city area, within blocks of Main Street. Its unit configuration and central setting support appeal to professionals, families, students, and local workforce renters, as identified in the property information.
Located at 5-7 Washington Street in Oneonta, the property sits in the center city area, within blocks of Main Street. Its unit configuration and central setting support appeal to professionals, families, students, and local workforce renters, as identified in the property information.
Key Highlights
- Duplex with 2 residential units
- Each unit includes 3 bedrooms
- Fully rented at present
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,886
Cap Rate
6.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$417,720
$417.7K
Cap Rate 7%
$298,371
$298.4K
Cap Rate 9%
$232,067
$232.1K
Market Conditions
NOI Build-Up for 2,392 SF
Gross rent
$31.6K $13.20/SF
− Vacancy
−$1.7K −$0.73/SF
EGI
$29.8K $12.47/SF
− OpEx
−$9.0K −$3.74/SF
NOI
$20.9K $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 Rate 5%
$417,720
Cap Rate 7%
$298,371
Cap Rate 9%
$232,067
Alternative Uses
Best Use
Multifamily LT 5
$298.4K
$261.1K – $348.1K
NOI $20,886 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$278.5K
$243.7K – $325.0K
NOI $19,497 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$659.4K
$577.0K – $769.3K
NOI $46,156 @ 7.0% cap · market cap 15.44%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
928
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom units create a fully occupied residential income property in a central location.
Where is this duplex located?
The property is located at 5-7 Washington St Oneonta, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Duplex with 2 residential units; Each unit includes 3 bedrooms; Fully rented at present
