Two-Story Home with Studio
For Sale
$284,091
5089 State Route 365, Verona, NY 13478
Two-story income property with a remodeled main home plus an attached garage studio apartment and furnishings included.
Property Size2,177 SF
Price / SF$130.50
Days on Market67
Property Features for 5089 State Route 365
General Information
Standard status
Active
Size
2,177 SF
Taxes and HOA fees
Annual Taxes
$6,460
Listing Agency:
Brzostek's Real Estate
Listed By:
Bernard J. Brzostek
(315) 678-2000
Source:
Exprealty
Added: Jul 1
Changed: Sep 4
Last Checked: Sep 5 at 11:51AM
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 Brzostek's Real Estate
Investment Insights
Based on property information with market context.
This two-story income property features a main house and an attached garage studio apartment that has been converted and remodeled with kitchen upgrades and a full bath. The home includes multiple bedrooms and baths, along with PTAC heating and cooling units throughout, and a full basement with a new Air Temp propane gas furnace, two propane gas Rheem instant water heaters, and 200 AMP electrical service with subpanels, plus a laundry area and laundry sink. The second-floor apartment includes hardwood flooring, an open layout with dining and living areas, an office, and a laundry room with stacking washer and dryer. Furnishings are included.
The property is situated on approximately 1.7+/- acres and is described as adjacent to The Villages at the Turning Stone. There are delayed showings scheduled for 7/26, limited to one hour prior to the auction, which is listed as a live onsite and online unreserved real estate auction on Aug. 2, 2026 at 1 PM, with no minimum bid.
According to the seller’s remarks, approximately $250,000 has been spent on remodeling and about $20,000 on furnishings.
The property is situated on approximately 1.7+/- acres and is described as adjacent to The Villages at the Turning Stone. There are delayed showings scheduled for 7/26, limited to one hour prior to the auction, which is listed as a live onsite and online unreserved real estate auction on Aug. 2, 2026 at 1 PM, with no minimum bid.
According to the seller’s remarks, approximately $250,000 has been spent on remodeling and about $20,000 on furnishings.
Key Highlights
- 2,177 SF, 2‑story 4‑5 bedroom Airbnb‑style income property on 1.7 +/- acres
- Attached garage converted to a studio apartment with Maple cabinets, butcher block counters, tile backsplash, and induction cooktop
- Furnishings included, plus a $20,000 worth of furnishings noted in the remarks
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
$18,123
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
6.38%
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%
$362,460
$362.5K
Cap Rate 7%
$258,900
$258.9K
Cap Rate 9%
$201,367
$201.4K
Market Conditions
NOI Build-Up for 2,177 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
$35.3K $16.20/SF
− Vacancy
−$2.3K −$1.06/SF
EGI
$33.0K $15.14/SF
− OpEx
−$14.8K −$6.81/SF
NOI
$18.1K $8.32/SF
Area
Oneida County, NY
Vacancy
6.57%
Lease Rate
$16.20 /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%
$362,460
Cap Rate 7%
$258,900
Cap Rate 9%
$201,367
Alternative Uses
Best Use
Apartment 5plus
$258.9K
$226.5K – $302.1K
NOI $18,123 @ 7.0% cap · market cap 6.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$573.7K
$502.0K – $669.3K
NOI $40,158 @ 7.0% cap · market cap 14.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
Explore this area
Business Placement
Demographics for 13478, NY
3,084
Population
1,547
Households
2
Avg Household Size
45
Median Age
19%
College-Educated
97%
High-School Grad
35.0 sq mi
ZIP Area
88
Density / Sq Mi
$77,195
Median Household Income
$39,872
Median Earnings
$850
Median Rent
$189,600
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?
Short term rental property - Two-story income property with a remodeled main home plus an attached garage studio apartment and furnishings included.
Where is this short term rental property located?
The property is located at 5089 State Route 365 Verona, NY.
What is the asking price?
The asking price for this property is $284,091.
What are key features of this property?
This property features: 2,177 SF, 2‑story 4‑5 bedroom Airbnb‑style income property on 1.7 +/- acres; Attached garage converted to a studio apartment with Maple cabinets, butcher block counters, tile backsplash, and induction cooktop; Furnishings included, plus a $20,000 worth of furnishings noted in the remarks
