Seasonal Two-Unit
For Sale
$195,000
597 Greenough Road, Cooperstown, NY 13326
Two separate residences feature updated kitchens and bathrooms, plus outdoor storage on a level yard.
Property Size1,907 SF
Lot Size0.59 Acres
Days on Market48
Property Features for 597 Greenough Road
General Information
Standard status
Active
Size
1,907 SF
Lot size
0.59 Acres
Property subtype
Multi Family Home
Zoning
Residential 2 Unit
Property Condition
Severity
Minor
Evidence
With some repairs, cosmetic improvements, and a little sweat equity
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$1,781
Building Details
Building Size
1,907 SF
Year Built
1900
Stories
2
Units
2
Listing Agency:
Cooperstown Brokers, LLC
(607) 435-9288
Listed By:
Michele M. Barry
Source:
Northstarwny
Added: Jun 30
Changed: Aug 16
Last Checked: Aug 16 at 5:44AM
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 Cooperstown Brokers, LLC
Investment Insights
Based on property information with market context.
This seasonal duplex, built in 1900, contains two independent residences, each arranged with 2 bedrooms and 1 full bathroom. Both kitchens and bathrooms have been updated. The property is designated Residential 2 Unit and is being offered as a seasonal residence. There is currently no heat source, and the insulation condition is unknown.
The property occupies 0.59 acres at 597 Greenough Road in Cooperstown, with the Village of Cooperstown and Cooperstown Dreams Park located minutes away. Exterior features include a level yard, a deck that requires repair, and a storage shed suited to lawn equipment and seasonal items.
The property occupies 0.59 acres at 597 Greenough Road in Cooperstown, with the Village of Cooperstown and Cooperstown Dreams Park located minutes away. Exterior features include a level yard, a deck that requires repair, and a storage shed suited to lawn equipment and seasonal items.
Key Highlights
- Two separate units, each with 2 bedrooms and 1 full bathroom
- 0.59‑acre property at 597 Greenough Road, Cooperstown
- Updated kitchens and bathrooms in both units
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
$16,652
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
8.54%
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%
$333,040
$333.0K
Cap Rate 7%
$237,886
$237.9K
Cap Rate 9%
$185,022
$185.0K
Market Conditions
NOI Build-Up for 1,907 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
$25.2K $13.20/SF
− Vacancy
−$1.4K −$0.73/SF
EGI
$23.8K $12.47/SF
− OpEx
−$7.1K −$3.74/SF
NOI
$16.7K $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%
$333,040
Cap Rate 7%
$237,886
Cap Rate 9%
$185,022
Alternative Uses
Best Use
Multifamily LT 5
$237.9K
$208.2K – $277.5K
NOI $16,652 @ 7.0% cap · market cap 8.54%
Second Best
Apartment 5plus
$222.1K
$194.3K – $259.1K
NOI $15,544 @ 7.0% cap · market cap 7.97%
Theoretical Best
Office A
$525.7K
$460.0K – $613.3K
NOI $36,797 @ 7.0% cap · market cap 18.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Explore this area
Business Placement
Demographics for 13326, NY
4,893
Population
2,724
Households
1.8
Avg Household Size
51
Median Age
48%
College-Educated
96%
High-School Grad
92.1 sq mi
ZIP Area
53
Density / Sq Mi
$70,977
Median Household Income
$33,740
Median Earnings
$1,120
Median Rent
$308,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences feature updated kitchens and bathrooms, plus outdoor storage on a level yard.
Where is this duplex located?
The property is located at 597 Greenough Road Cooperstown, NY.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Two separate units, each with 2 bedrooms and 1 full bathroom; 0.59‑acre property at 597 Greenough Road, Cooperstown; Updated kitchens and bathrooms in both units
