Renovated
For Sale
$164,900
8 Nestle Ave B, Fulton, NY 13069
Two updated apartments each feature two bedrooms, spacious living and dining areas, a kitchen, and a full bathroom.
Property Size1,800 SF
Days on Market57
Property Features for 8 Nestle Ave B
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,499
Building Details
Building Size
1,800 SF
Year Built
1915
Year Renovated
2025
Buildings
1
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
eXp Realty
(888) 276-0630
Listed By:
Kristen D Conley
(888) 276-0630
Source:
Elliman
Added: Jul 6
Changed: Aug 29
Last Checked: Aug 30 at 10:18PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This duplex at 8 Nestle Ave B includes two tenant-occupied apartments, each with two bedrooms, large living and dining rooms, a kitchen, and a full bathroom. Both units received new luxury vinyl plank flooring, kitchen cabinetry, counters, sinks, faucets, ovens, built-in microwaves, lighting, bathroom fixtures, vanities, toilets, and fresh paint. The second-floor apartment was renovated in Fall 2024, while the first-floor apartment was renovated in Summer 2025.
The front and back porches were rebuilt, and additional parking was added at the front of the driveway with fresh millings. A garage is shared with the neighboring property, with the property line running through its middle. Built in 1915, the property is located in Fulton, NY 13069.
The front and back porches were rebuilt, and additional parking was added at the front of the driveway with fresh millings. A garage is shared with the neighboring property, with the property line running through its middle. Built in 1915, the property is located in Fulton, NY 13069.
Key Highlights
- Two tenant‑occupied apartments, each with 2 bedrooms, living and dining rooms, kitchen, and full bathroom
- Second‑floor apartment renovated in Fall 2024
- First‑floor apartment renovated in Summer 2025
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
$14,844
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
9.00%
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%
$296,880
$296.9K
Cap Rate 7%
$212,057
$212.1K
Cap Rate 9%
$164,933
$164.9K
Market Conditions
NOI Build-Up for 1,800 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
$22.7K $12.60/SF
− Vacancy
−$1.5K −$0.82/SF
EGI
$21.2K $11.78/SF
− OpEx
−$6.4K −$3.53/SF
NOI
$14.8K $8.25/SF
Area
Oswego County, NY
Vacancy
6.50%
Lease Rate
$12.60 /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%
$296,880
Cap Rate 7%
$212,057
Cap Rate 9%
$164,933
Alternative Uses
Best Use
Multifamily LT 5
$212.1K
$185.6K – $247.4K
NOI $14,844 @ 7.0% cap · market cap 9.00%
Second Best
Apartment 5plus
$197.3K
$172.6K – $230.2K
NOI $13,809 @ 7.0% cap · market cap 8.37%
Theoretical Best
Office A
$359.0K
$314.2K – $418.9K
NOI $25,132 @ 7.0% cap · market cap 15.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
420
Businesses Nearby
Explore this area
Business Placement
Demographics for 13069, NY
24,071
Population
10,593
Households
2.3
Avg Household Size
40
Median Age
19%
College-Educated
89%
High-School Grad
109.9 sq mi
ZIP Area
219
Density / Sq Mi
$63,156
Median Household Income
$44,073
Median Earnings
$878
Median Rent
$112,600
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 updated apartments each feature two bedrooms, spacious living and dining areas, a kitchen, and a full bathroom.
Where is this duplex located?
The property is located at 8 Nestle Ave B Fulton, NY.
What is the asking price?
The asking price for this property is $164,900.
What are key features of this property?
This property features: Two tenant‑occupied apartments, each with 2 bedrooms, living and dining rooms, kitchen, and full bathroom; Second‑floor apartment renovated in Fall 2024; First‑floor apartment renovated in Summer 2025
