Building Details

Year Built 1965

Listing Agency: Keller Williams Upstate NY

Listed By: Susan Muther · License #10401290369 Show Phone

Source: Upstatecurious

Added: Sep 11 Changed: Oct 26 Last Checked: Oct 7 at 2:24PM

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$70,564

Cap Rate

7.24%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,411,280 $1.4M

Cap Rate 7%

$1,008,057 $1.0M

Cap Rate 9%

$784,044 $784.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,908 SF

Gross rent

$136.8K $19.80/SF

− Vacancy

−$8.5K −$1.23/SF

EGI

$128.3K $18.57/SF

− OpEx

−$57.7K −$8.36/SF

NOI

$70.6K $10.21/SF

Area

Schoharie County, NY

Vacancy

6.20%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,411,280

Cap Rate 7%

$1,008,057

Cap Rate 9%

$784,044

Alternative Uses

Best Use

Apartment 5plus

$1.01M

$882.1K – $1.18M (±1% cap)

NOI $70,564 @ 7.0% cap · market cap 7.24%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.82M

$1.59M – $2.13M (±1% cap)

NOI $127,577 @ 7.0% cap · market cap 13.08%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Restaurant Bed & Breakfast

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2

Businesses Nearby

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Demographics for 12093, NY

1,576

Population

1,107

Households

1.4

Avg Household Size

50

Median Age

27%

College-Educated

92%

High-School Grad

65.3 sq mi

ZIP Area

24

Density / Sq Mi

$61,250

Median Household Income

$50,156

Median Earnings

$883

Median Rent

$162,000

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

Where is this apartment building located?

The property is located at 61 Fusco Dr Jefferson, NY.

What is the asking price?

The asking price for this property is $975,000.