Heat Oil Costs Review

7 Replies

Hello everyone,

I am having a problem reviewing local triplex units in lower Westchester (White Plains / New Rochelle / Port Chester / etc.). more specifically, trying to figure out an estimate for heat / oil expenses yearly. Does anyone have a general range / or know were I could find this.

I am seeing numbers range from $3,000 to $20,000 to fill an oil tank for a triplex. 

Thanks!

When I lived in a 1000 sqft duplex I paid roughly $1200/yr for oil. That was in the Philly suburbs so in NY you can probably expect $1500 - $2000 per unit per year

Difficult to figure out an average budget for oil prices based on price fluctuations per gallons. Also, usage changes year to year based on how cold the winter is. But here at the oil company that I work for we estimate about $1,500 a year for a SFH.

It is very difficult to predict oil costs. When tenants don't pay it is very common for them to leave windows open in the winter for fresh air. Landlord heating costs will be much higher than tenant heating costs.

Best to invest in units with separate utilities.

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