Two-Unit Duplex with
New
For Sale
$189,900
5 Normal Ave, Oneonta, NY 13820
Both apartments include two bedrooms, living and dining rooms, kitchens, and one bathroom.
Property Size2,103 SF
Days on Market3
Property Features for 5 Normal Ave
General Information
Standard status
Active
Size
2,103 SF
Total Parking Spaces
2
Property subtype
Multi Family
Financials
Gross Income
$35,400
Average Monthly Rent
$1,475
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,600
Building Details
Building Size
2,103 SF
Year Built
1900
Buildings
1
Stories
2
Units
2
Listing Agency:
Oneonta Realty, LLC
(607) 287-8458
Listed By:
Christine Keto · License #30KE1019431
(607) 287-8458
Source:
Elliman
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 14 at 11:44AM
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 Oneonta Realty, LLC
Investment Insights
Based on property information with market context.
This two-unit residential income property was built in 1900 and includes a two-car garage. Each apartment offers two bedrooms, a living room, dining room, functional kitchen, and one bathroom. Hardwood floors and vinyl replacement windows add to the unit features, while tenants pay their own utilities.
The property is near the University of Oneonta campus and a bus route, with Wilber Park nearby and downtown located a few blocks away. BikeScore is 24 and WalkScore is 51, indicating somewhat bikeable and somewhat walkable conditions.
The duplex format provides two separately configured apartments within one property, with a consistent layout across both units and dedicated garage space for two vehicles.
The property is near the University of Oneonta campus and a bus route, with Wilber Park nearby and downtown located a few blocks away. BikeScore is 24 and WalkScore is 51, indicating somewhat bikeable and somewhat walkable conditions.
The duplex format provides two separately configured apartments within one property, with a consistent layout across both units and dedicated garage space for two vehicles.
Key Highlights
- Two‑unit duplex with two‑car garage
- Each apartment has 2 bedrooms and 1 bathroom
- Living room, dining room, and kitchen in each apartment
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
$17,142
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
9.03%
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%
$342,840
$342.8K
Cap Rate 7%
$244,886
$244.9K
Cap Rate 9%
$190,467
$190.5K
Market Conditions
NOI Build-Up for 2,103 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
$32.8K $15.60/SF
− Vacancy
−$1.6K −$0.78/SF
EGI
$31.2K $14.82/SF
− OpEx
−$14.0K −$6.67/SF
NOI
$17.1K $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%
$342,840
Cap Rate 7%
$244,886
Cap Rate 9%
$190,467
Alternative Uses
Best Use
Multifamily LT 5
$262.3K
$229.5K – $306.1K
NOI $18,363 @ 7.0% cap · market cap 9.67%
Second Best
Apartment 5plus
$244.9K
$214.3K – $285.7K
NOI $17,142 @ 7.0% cap · market cap 9.03%
Theoretical Best
Office A
$579.7K
$507.2K – $676.3K
NOI $40,579 @ 7.0% cap · market cap 21.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
401
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 - Both apartments include two bedrooms, living and dining rooms, kitchens, and one bathroom.
Where is this duplex located?
The property is located at 5 Normal Ave Oneonta, NY.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Two‑unit duplex with two‑car garage; Each apartment has 2 bedrooms and 1 bathroom; Living room, dining room, and kitchen in each apartment
