Opportunity and flexibility come together in this well-maintained up-and-down duplex located in the City of Oneonta. Whether you're seeking an owner-occupied investment, a traditional rental property, or a home with income potential, this property offers a variety of possibilities. The first-floor apartment features two bedrooms, one full bathroom, a galley-style kitchen, and generously sized rooms throughout. In addition, there is a bonus room currently used as a home office, providing valuable extra space for remote work, hobbies, storage, or a variety of other uses. The layout offers flexibility without sacrificing comfort. The second-floor apartment also offers two bedrooms and one full bathroom, along with a separate powder room. Recent improvements include a newer stand-up shower and the addition of an in-unit washer and dryer. The versatile floor plan allows the second bedroom to be opened to the living area through double doors, creating an expansive living room or keeping it configured as a private bedroom depending on your needs. Both apartments feature galley-style kitchens and large bedrooms, making the units appealing to tenants and owner-occupants alike. Located in the City's MU-2 zoning district, the property is eligible for a City of Oneonta short-term rental permit, providing additional investment flexibility. Previous ownership utilized the property as an owner-occupied residence, demonstrating the property's adaptability for a variety of living and income-producing arrangements. Conveniently situated near downtown Oneonta, SUNY Oneonta, Hartwick College, shopping, dining, and local amenities, 268 Chestnut Street is a versatile property with strong appeal for investors and owner-occupants alike.