Waterfront Estate with Three
For Sale
$475,000
554 STATE ROUTE 49, Cleveland, NY 13042
Three residential buildings on 2.11 acres with 87 feet of waterfront and a private dock on Oneida Lake.
Property Size3,890 SF
Lot Size2.11 Acres
Price / SF$122.11
Days on Market86
Property Features for 554 STATE ROUTE 49
General Information
Standard status
Active
Size
3,890 SF
Lot size
2.11 Acres
Property subtype
General Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$11,406
Amenities
3
Hardwood
Asphalt, Shingle
6 Parking Spaces. Driveway.
Lake
Rectangular
87X450
Lake. Rectangular.
Building Details
Year Built
1845
Stories
2
Listing Agency:
(315) 430-4894
Listed By:
Move Real Estate
(315) 430-4894
Source:
Xome
Added: Jun 2
Changed: Aug 23
Last Checked: Aug 26 at 5:28AM
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 Move Real Estate
Investment Insights
Based on property information with market context.
This waterfront estate offers three separate residential buildings on 2.11 acres along the shores of Oneida Lake. The main residence features 4 bedrooms and 2.5 bathrooms, with space suited to year-round living or accommodating larger groups. Two additional guest houses provide 1 bedroom and 1 full bathroom each, creating separate accommodations for visitors, extended family, or short-term rental guests.
The property includes direct access to Oneida Lake with 87 feet of waterfront access and a private dock. The grounds are positioned for privacy and outdoor recreation, with opportunities tied to boating, fishing, and kayaking.
Overall, the combination of multiple residences, acreage, and waterfront access supports flexible use, including vacation rental or multi-generational living arrangements, while retaining income-producing possibilities described for the property.
The property includes direct access to Oneida Lake with 87 feet of waterfront access and a private dock. The grounds are positioned for privacy and outdoor recreation, with opportunities tied to boating, fishing, and kayaking.
Overall, the combination of multiple residences, acreage, and waterfront access supports flexible use, including vacation rental or multi-generational living arrangements, while retaining income-producing possibilities described for the property.
Key Highlights
- Waterfront estate on 2.11 acres along Oneida Lake with 87 feet of waterfront access and a private dock
- Three separate residential buildings for flexible living or guest accommodations
- Main residence offers 4 bedrooms and 2.5 bathrooms
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
$29,842
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
6.28%
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%
$596,840
$596.8K
Cap Rate 7%
$426,314
$426.3K
Cap Rate 9%
$331,578
$331.6K
Market Conditions
NOI Build-Up for 3,890 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
$57.4K $14.76/SF
− Vacancy
−$3.2K −$0.81/SF
EGI
$54.3K $13.95/SF
− OpEx
−$24.4K −$6.28/SF
NOI
$29.8K $7.67/SF
Area
Oswego County, NY
Vacancy
5.50%
Lease Rate
$14.76 /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%
$596,840
Cap Rate 7%
$426,314
Cap Rate 9%
$331,578
Alternative Uses
Best Use
Apartment 5plus
$426.3K
$373.0K – $497.4K
NOI $29,842 @ 7.0% cap · market cap 6.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$775.9K
$678.9K – $905.2K
NOI $54,313 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 13042, NY
2,447
Population
948
Households
2.6
Avg Household Size
44
Median Age
31%
College-Educated
91%
High-School Grad
34.3 sq mi
ZIP Area
71
Density / Sq Mi
$102,031
Median Household Income
$52,610
Median Earnings
$1,272
Median Rent
$131,100
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 - Three residential buildings on 2.11 acres with 87 feet of waterfront and a private dock on Oneida Lake.
Where is this short term rental property located?
The property is located at 554 STATE ROUTE 49 Cleveland, NY.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Waterfront estate on 2.11 acres along Oneida Lake with 87 feet of waterfront access and a private dock; Three separate residential buildings for flexible living or guest accommodations; Main residence offers 4 bedrooms and 2.5 bathrooms
