Updated Four-Unit
New
For Sale
$425,000
88 West 8th Street, Oswego, NY 13126
Updated apartment property with a mixed one- and two-bedroom layout and off-street parking.
Property Size5,041 SF
Days on Market4
Property Features for 88 West 8th Street
General Information
Standard status
Active
Size
5,041 SF
Property subtype
Multi Family
Occupancy
100%
Units
Unit Mix
3 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,335
Building Details
Building Size
5,041 SF
Year Built
1950
Listing Agency:
Century 21 Galloway Realty
(315) 342-2111
Listed By:
Jeffrey Tonkin · License #30TO0955654
(315) 342-2111
Source:
Highfallssir
Added: Aug 19
Changed: Aug 22
Last Checked: Aug 22 at 4:47AM
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 Century 21 Galloway Realty
Investment Insights
Based on property information with market context.
This updated quadplex at 88 West 8th Street in Oswego, NY, was built in 1950 and contains four apartments. The configuration includes three two-bedroom, one-bath units and one one-bedroom, one-bath unit. The property occupies a corner location and includes off-street parking, with well-maintained interior spaces throughout. All four apartments are currently leased.
The property is within walking distance of local parks, dining, and a nearby hospital. Its residential layout, established construction, and existing occupancy provide a clearly defined multifamily asset in the Oswego market.
The property is within walking distance of local parks, dining, and a nearby hospital. Its residential layout, established construction, and existing occupancy provide a clearly defined multifamily asset in the Oswego market.
Key Highlights
- Four‑unit quadplex built in 1950
- Unit mix includes three 2‑bedroom, 1‑bath apartments and one 1‑bedroom, 1‑bath apartment
- All four apartments are fully leased
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
$38,672
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
9.10%
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%
$773,440
$773.4K
Cap Rate 7%
$552,457
$552.5K
Cap Rate 9%
$429,689
$429.7K
Market Conditions
NOI Build-Up for 5,041 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
$74.4K $14.76/SF
− Vacancy
−$4.1K −$0.81/SF
EGI
$70.3K $13.95/SF
− OpEx
−$31.6K −$6.28/SF
NOI
$38.7K $7.67/SF
Area
Oswego County, NY
Vacancy
5.50%
Lease Rate
$14.76 /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%
$773,440
Cap Rate 7%
$552,457
Cap Rate 9%
$429,689
Alternative Uses
Best Use
Multifamily LT 5
$593.9K
$519.7K – $692.9K
NOI $41,572 @ 7.0% cap · market cap 9.78%
Second Best
Apartment 5plus
$552.5K
$483.4K – $644.5K
NOI $38,672 @ 7.0% cap · market cap 9.10%
Theoretical Best
Office A
$1.01M
$879.8K – $1.17M
NOI $70,384 @ 7.0% cap · market cap 16.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,012
Businesses Nearby
Explore this area
Business Placement
Demographics for 13126, NY
35,477
Population
15,668
Households
2.3
Avg Household Size
36
Median Age
29%
College-Educated
92%
High-School Grad
100.7 sq mi
ZIP Area
352
Density / Sq Mi
$63,590
Median Household Income
$30,469
Median Earnings
$992
Median Rent
$134,600
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?
Quadplex - Updated apartment property with a mixed one- and two-bedroom layout and off-street parking.
Where is this quadplex located?
The property is located at 88 West 8th Street Oswego, NY.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 1950; Unit mix includes three 2‑bedroom, 1‑bath apartments and one 1‑bedroom, 1‑bath apartment; All four apartments are fully leased
