Oneonta Duplex: Turnkey
For Sale
$279,000
7-9 Reynolds Ave, Oneonta, NY 13820
Two-unit duplex in Oneonta with rental history and recent upgrades.
Property Size2,050 SF
Days on Market106
Property Features for 7-9 Reynolds Ave
General Information
Standard status
Active
Size
2,050 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,359
Building Details
Building Size
2,050 SF
Year Built
1960
Stories
2
Units
2
Listing Agency:
Keller Williams Upstate NY Properties
(607) 376-2279
Listed By:
Stacey L. Camilleri · License #40CH1109154
(607) 376-2279
Source:
Elliman
Added: May 17
Changed: Aug 23
Last Checked: Aug 29 at 1:32PM
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 Keller Williams Upstate NY Properties
Investment Insights
Based on property information with market context.
This two-unit duplex in Oneonta presents an investment opportunity with a history of successful rentals. Each apartment includes 3 bedrooms, 1 full bathroom, a formal dining room, and a living room. The building provides a common-area laundry space. Improvements have been made throughout, including updated kitchens with updated plumbing and electrical systems. Recent upgrades feature a new front porch and new electric baseboard heating for the upstairs apartment, while the downstairs unit is equipped with forced air heating. Off-street parking is available. The property is located in a very walkable area with a walk score of 78 and a bikeable area with a bike score of 60.
Key Highlights
- Proven track record of rental success as a two‑unit duplex.
- Prime location in the City of Oneonta with a high walkability score of 78.
- Each unit features 3 bedrooms, 1 full bathroom, formal dining room, and living room.
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
$17,900
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
6.42%
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%
$358,000
$358.0K
Cap Rate 7%
$255,714
$255.7K
Cap Rate 9%
$198,889
$198.9K
Market Conditions
NOI Build-Up for 2,050 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
$27.1K $13.20/SF
− Vacancy
−$1.5K −$0.73/SF
EGI
$25.6K $12.47/SF
− OpEx
−$7.7K −$3.74/SF
NOI
$17.9K $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%
$358,000
Cap Rate 7%
$255,714
Cap Rate 9%
$198,889
Alternative Uses
Best Use
Multifamily LT 5
$255.7K
$223.8K – $298.3K
NOI $17,900 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$238.7K
$208.9K – $278.5K
NOI $16,710 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$565.1K
$494.5K – $659.3K
NOI $39,557 @ 7.0% cap · market cap 14.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
939
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 - Two-unit duplex in Oneonta with rental history and recent upgrades.
Where is this duplex located?
The property is located at 7-9 Reynolds Ave Oneonta, NY.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Proven track record of rental success as a two‑unit duplex.; Prime location in the City of Oneonta with a high walkability score of 78.; Each unit features 3 bedrooms, 1 full bathroom, formal dining room, and living room.
