4-Unit Main Street
For Sale
$259,000
91 Main Street, Oneonta, NY 13820
Fully occupied residential income property near downtown Oneonta, local shopping, dining, entertainment, and two colleges.
Property Size2,400 SF
Days on Market23
Property Features for 91 Main Street
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi Family Home
Occupancy
100%
Additional Details
Road Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,838
Building Details
Building Size
2,400 SF
Year Built
1900
Stories
2
Units
9
Listing Agency:
Keller Williams Upstate NY Properties
(607) 267-3166
Listed By:
Anthony Heath · License #10401359601
(607) 267-3166
Source:
Northstarwny
Added: Jul 28
Changed: Aug 15
Last Checked: Aug 18 at 12:00AM
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 NY Properties
Investment Insights
Based on property information with market context.
This four-unit residential income property was built in 1900 and is currently fully occupied. The quadplex offers an established rental configuration in a building with a long operating history, providing an income-producing asset for an investor seeking an occupied property.
The property is located on Main Street in Oneonta, minutes from the downtown area. Residents have access to nearby shops, restaurants, entertainment, and everyday services, with both local colleges also close by. Its central setting connects the property to established community amenities and supports convenient access for occupants.
The property is located on Main Street in Oneonta, minutes from the downtown area. Residents have access to nearby shops, restaurants, entertainment, and everyday services, with both local colleges also close by. Its central setting connects the property to established community amenities and supports convenient access for occupants.
Key Highlights
- Four‑unit residential income property
- All 4 units are currently occupied
- Built in 1900
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
$20,956
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
8.09%
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%
$419,120
$419.1K
Cap Rate 7%
$299,371
$299.4K
Cap Rate 9%
$232,844
$232.8K
Market Conditions
NOI Build-Up for 2,400 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
$31.7K $13.20/SF
− Vacancy
−$1.7K −$0.73/SF
EGI
$29.9K $12.47/SF
− OpEx
−$9.0K −$3.74/SF
NOI
$21.0K $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%
$419,120
Cap Rate 7%
$299,371
Cap Rate 9%
$232,844
Alternative Uses
Best Use
Multifamily LT 5
$299.4K
$262.0K – $349.3K
NOI $20,956 @ 7.0% cap · market cap 8.09%
Second Best
Apartment 5plus
$279.5K
$244.5K – $326.0K
NOI $19,562 @ 7.0% cap · market cap 7.55%
Theoretical Best
Office A
$661.6K
$578.9K – $771.8K
NOI $46,310 @ 7.0% cap · market cap 17.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,022
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
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 - Fully occupied residential income property near downtown Oneonta, local shopping, dining, entertainment, and two colleges.
Where is this quadplex located?
The property is located at 91 Main Street Oneonta, NY.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Four‑unit residential income property; All 4 units are currently occupied; Built in 1900
