8-Unit Furnished Apartment
New
For Sale
$549,000
7373 Rt 20, Waterville, NY 13480
MultiFamily, Waterville, NY
Property Size2,112 SF
Price / SF$259.94
Days on Market2
Property Features for 7373 Rt 20
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Rooms
Bedroom 1
Parking features
Garage, Driveway
Exterior features
BlacktopDriveway, Fence
Fencing
Fenced
Appliances
ElectricOven, ElectricRange, ElectricWaterHeater, Microwave, Refrigerator, WaterSoftenerRented
Lot features
Agricultural, Irregular Lot, Near Public Transit
Elementary school district
Waterville
Middle school district
Waterville
High school district
Waterville
Directions
On Rt 20
Subdivision
Sangerfield-305489
Standard status
Active
APN
392.000-2-33.1
Size
2,112 SF
Taxes and HOA fees
Tax Annual Amount
7276
Utilities
Sewer type
Septic Tank
Heating system
Baseboard, Electric (Heating)
Cooling system
Window Unit(s)
Water source
Well
Amenities
laundry on site
high speed internet
blacktop parking lot
Building Details
Year built
1950
Floors in Building
1
Number of units
8
Flooring type
Laminate, Varies, Tile
Building materials
AtticCrawlHatchwaysInsulated, Brick
Roof type
Shingle, Asphalt
Listing Agency:
Assist2Sell Buyers & Sellers 1st Choice · Assist-2-Sell
(315) 735-9244
Listed By:
Martin C. Bell · License #40BE1090095
(315) 794-6090
Added: Sep 3
Last Checked: Sep 4 at 6:06PM
MLS# S1711975
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.
Investment Insights
Based on property information with market context.
This 2,112-square-foot apartment building contains eight studio units, each with a full bathroom and individual window air-conditioning unit. Furnishings and contents are included, along with refrigerators, microwaves, and flat-screen televisions throughout; select apartments also have stoves. The property is currently operating as a short-term rental business and includes on-site laundry, high-speed internet with an eero boost system, and electronic door locks for each unit. A privacy fence and water softener were added in 2025, while all hot water tanks are less than 5 years old.
The property sits at 7373 Rt 20 in Waterville, NY, with access to a blacktop parking area completed in 2020 and space for each apartment or additional vehicles. Hamilton College, Colgate University, and Morrisville College are each within 15 miles, and the Village of Waterville is within 5 minutes. Additional physical features include a garage, fenced grounds, well water, septic service, electric baseboard heat, and shingle and asphalt roofing.
The property sits at 7373 Rt 20 in Waterville, NY, with access to a blacktop parking area completed in 2020 and space for each apartment or additional vehicles. Hamilton College, Colgate University, and Morrisville College are each within 15 miles, and the Village of Waterville is within 5 minutes. Additional physical features include a garage, fenced grounds, well water, septic service, electric baseboard heat, and shingle and asphalt roofing.
Key Highlights
- Eight studio apartments totaling 2,112 square feet
- Furnished units with contents included; full baths and kitchen appliances
- Currently operating as a short‑term rental property
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
$17,582
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
3.20%
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%
$351,640
$351.6K
Cap Rate 7%
$251,171
$251.2K
Cap Rate 9%
$195,356
$195.4K
Market Conditions
NOI Build-Up for 2,112 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
$34.2K $16.20/SF
− Vacancy
−$2.2K −$1.06/SF
EGI
$32.0K $15.14/SF
− OpEx
−$14.4K −$6.81/SF
NOI
$17.6K $8.32/SF
Area
Oneida County, NY
Vacancy
6.57%
Lease Rate
$16.20 /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%
$351,640
Cap Rate 7%
$251,171
Cap Rate 9%
$195,356
Alternative Uses
Best Use
Apartment 5plus
$251.2K
$219.8K – $293.0K
NOI $17,582 @ 7.0% cap · market cap 3.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$556.6K
$487.0K – $649.3K
NOI $38,959 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
Explore this area
Business Placement
Demographics for 13480, NY
3,231
Population
1,436
Households
2.3
Avg Household Size
43
Median Age
22%
College-Educated
96%
High-School Grad
54.8 sq mi
ZIP Area
59
Density / Sq Mi
$78,125
Median Household Income
$43,866
Median Earnings
$880
Median Rent
$168,100
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?
Apartment building - Eight studio apartments include furnishings, kitchen appliances, window air conditioning, and on-site laundry.
Where is this apartment building located?
The property is located at 7373 Rt 20 Waterville, NY.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Eight studio apartments totaling 2,112 square feet; Furnished units with contents included; full baths and kitchen appliances; Currently operating as a short‑term rental property
