Fully Occupied
New
For Sale
$299,000
88-90 Center Street, Oneonta, NY 13820
Residential, Oneonta, NY
Property Size2,168 SF
Lot Size0.10 Acres
Price / SF$137.92
Days on Market3
Property Features for 88-90 Center Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Basement, Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 5, Bedroom 4
Parking features
On Street
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot
Elementary school district
Oneonta
Middle school district
Oneonta
High school district
Oneonta
Directions
From Main St. Take Maple St north, make a right, house is 3 properties up the road on the right.
Subdivision
Oneonta-City-361200
Standard status
Active
APN
288.18-5-3
Size
2,168 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
7045
Utilities
Heating system
Baseboard, Natural Gas
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
3
Flooring type
Varies, Vinyl
Building materials
Frame
Listing Agency:
Keller Williams Upstate NY Properties · Keller Williams Realty
(607) 431-2540
Listed By:
Anthony Heath · License #10401359601
(607) 267-3166
Added: Sep 15
Changed: Sep 16
Last Checked: Sep 17 at 2:06PM
MLS# R1714972
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 fully occupied triplex contains three residential units within a 2,168-square-foot frame property on a 0.1-acre lot. The building dates to 1900 and includes five bedrooms, three bathrooms, a basement, vinyl and varied flooring, gas-fired baseboard heating, and public water service.
The property is positioned near Main Street and downtown Oneonta shopping and dining. Hartwick College, SUNY Oneonta, and A.O. Fox Hospital are also identified as nearby destinations. On-street parking serves the property, while the three-unit configuration provides an established multifamily operating format.
The property is positioned near Main Street and downtown Oneonta shopping and dining. Hartwick College, SUNY Oneonta, and A.O. Fox Hospital are also identified as nearby destinations. On-street parking serves the property, while the three-unit configuration provides an established multifamily operating format.
Key Highlights
- Three‑unit multifamily property with all units occupied
- 2,168 square feet on a 0.1‑acre lot
- Five bedrooms and three bathrooms
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
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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
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Frequently Asked Questions
What type of property is this?
Triplex - Frame construction with gas baseboard heat, public water, a basement, and on-street parking.
Where is this triplex located?
The property is located at 88-90 Center Street 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 multifamily property with all units occupied; 2,168 square feet on a 0.1‑acre lot; Five bedrooms and three bathrooms
