Oneonta Multifamily Investment
7-9 Weidman Place, Oneonta, NY 13820
MULTI_FAMILY - Oneonta, NY
Property size:
6,600 SFLot size:
0.39 AcresPrice / SF:
$94/SF- Added:
- Aug 26, 2025
- Days on Market:
- 266
- Last Refresh:
- May 18 at 8:06 am
Property Features for 7-9 Weidman Place
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 7
- Rooms
- Bedroom 6, Bedroom 2, Bedroom 3, Bedroom 1, Basement, Bedroom 4, Bedroom 5, Bedroom 7
- Parking features
- Driveway, Garage
- Exterior features
- BlacktopDriveway, PrivateYard
- Fireplace
- 1
- Appliances
- Dryer, ExhaustFan, GasOven, GasRange, GasWaterHeater, Refrigerator, RangeHood, Washer
- Standard status
- Active
- APN
- 288.17-3-11
- Size
- 6,600 SF
- Lot size
- 0.39 Acres
Taxes and HOA fees
- Tax Annual Amount
- 14177
Utilities
- Heating system
- Steam, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 3
- Number of units
- 6
- Flooring type
- Carpet, Vinyl, Varies, Hardwood
- Building materials
- BlownInInsulation, Frame, VinylSiding
- Roof type
- Shingle, Asphalt
Listing agent Jessie Grigsby License #10401321825 (607) 287-8919
Listing office Benson Agency Real Estate LLC One Grand Street, Oneonta, NY (607) 432-4391
Listing date Aug 26, 2025
MLS# R1632199
Listing URL
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- High Income Potential: Projected annual income of $107,400 with solid rental history.
- Strong Rental Demand: Great location close to colleges and transportation, ensuring consistent occupancy.
- Multiple Units: Six fully furnished units with a mix of 2, 3, and 4‑bedroom configurations.
- Recent Improvements: Includes new laundry areas and a new sewer line, reducing potential maintenance costs.
- COC in Place: Ensures compliance with local regulations and simplifies the ownership transfer.
- Two Parcels Included: Offers potential for future development or expansion.
Overview
This multifamily property in Oneonta, New York, features six units comprising a total of 16 bedrooms and 7 bathrooms. The property includes three two-bedroom apartments, two three-bedroom apartments, and one four-bedroom apartment, all furnished. A new boiler was installed in 2010. Common laundry facilities are located in the basement, with two additional laundry areas upstairs, one new in 2017 and another in 2023. The property has a Certificate of Compliance (COC) in place and includes two parcels. The second tax map number is 288.17-3-16. Located in a great location, the property has a solid rental history and is close to both colleges, a block from the bus stop, and a short walk to Main Street. The property offers great parking. Current rents are as follows: Apartment 1 is a two-bedroom unit rented for $1050 per month through 12/31/25; Apartment 2 is a two-bedroom unit rented for $1250 per month through 9/30/25; Apartment 3 is a three-bedroom unit rented for $1650 per month through 5/30/26; Apartment 4 is a two-bedroom unit rented for $1250 per month through 5/31/26; Apartment 5 is a three-bedroom unit rented for $1250 per month on a month-to-month basis; and Apartment 6 is a four-bedroom unit rented for $3750 per student per semester through 5/17/26. The projected income is $107,400, with expenses of $54,717, including a $9,762 management fee. Recent improvements include a new laundry area and a new sewer line to the street. The property size is 6600 square feet and the lot size is 0.39 acres.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$597.7K
NOI $53,797 @ 9.00% cap · cautious / downside scenario
Moderate
$768.5K
NOI $53,797 @ 7.00% cap · market / base-case scenario
Aggressive
$1.08M
NOI $53,797 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $103.0k | $15.60 |
| − Vacancy | −$5.1k | −$0.78 |
| EGI | $97.8k | $14.82 |
| − OpEx | −$44.0k | −$6.67 |
| NOI | $53.8k | $8.15 |
6,600 SF · lease $15.60/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$768.5K
$672.5K – $896.6K
NOI $53,797 @ 7.0% cap · market cap 8.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,354 @ 7.0% cap · market cap 20.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Oneonta
- County
- Otsego
- State
- New York
- Longitude
- -75.066492
- Latitude
- 42.4593
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Six-unit multifamily property near colleges with solid rental history.
Where is this apartment building located?
The property is located at 7-9 Weidman Place Oneonta, NY.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: High Income Potential: Projected annual income of $107,400 with solid rental history.; Strong Rental Demand: Great location close to colleges and transportation, ensuring consistent occupancy.; Multiple Units: Six fully furnished units with a mix of 2, 3, and 4‑bedroom configurations.
