Occupied Three-Unit
New
For Sale
$299,000
88-90 Center St, Oneonta, NY 13820
Fully occupied multifamily property near downtown shopping, restaurants, and major local institutions.
Property Size2,168 SF
Days on Market2
Property Features for 88-90 Center St
General Information
Standard status
Active
Size
2,168 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,045
Building Details
Building Size
2,168 SF
Year Built
1900
Stories
2
Units
3
Listing Agency:
Keller Williams Upstate New York Properties
Listed By:
Anthony Heath · License #10401359601
(607) 267-3166
Source:
Elliman
Added: Sep 16
Changed: Sep 17
Last Checked: Sep 16 at 2:10PM
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 New York Properties
Investment Insights
Based on property information with market context.
Built in 1900, this three-unit triplex is fully occupied and positioned as a residential income property in Oneonta. The property has an established rental history and offers three residential units within one multifamily asset.
Located at 88-90 Center St, the property is near Main Street and downtown Oneonta’s shopping and restaurant offerings. Hartwick College, SUNY Oneonta, and A.O. Fox Hospital are also identified as nearby destinations. Walk Score is 35, classified as Car-Dependent, while Bike Score is 24, classified as Somewhat Bikeable.
Located at 88-90 Center St, the property is near Main Street and downtown Oneonta’s shopping and restaurant offerings. Hartwick College, SUNY Oneonta, and A.O. Fox Hospital are also identified as nearby destinations. Walk Score is 35, classified as Car-Dependent, while Bike Score is 24, classified as Somewhat Bikeable.
Key Highlights
- Three‑unit triplex built in 1900
- Fully occupied with established rental history
- 88‑90 Center St location in Oneonta, NY 13820
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
$18,931
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
6.33%
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%
$378,620
$378.6K
Cap Rate 7%
$270,443
$270.4K
Cap Rate 9%
$210,344
$210.3K
Market Conditions
NOI Build-Up for 2,168 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
$28.6K $13.20/SF
− Vacancy
−$1.6K −$0.73/SF
EGI
$27.0K $12.47/SF
− OpEx
−$8.1K −$3.74/SF
NOI
$18.9K $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%
$378,620
Cap Rate 7%
$270,443
Cap Rate 9%
$210,344
Alternative Uses
Best Use
Multifamily LT 5
$270.4K
$236.6K – $315.5K
NOI $18,931 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$252.4K
$220.9K – $294.5K
NOI $17,671 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$597.6K
$522.9K – $697.2K
NOI $41,834 @ 7.0% cap · market cap 13.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,038
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied multifamily property near downtown shopping, restaurants, and major local institutions.
Where is this triplex located?
The property is located at 88-90 Center St Oneonta, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Three‑unit triplex built in 1900; Fully occupied with established rental history; 88‑90 Center St location in Oneonta, NY 13820
