Duplex with Detached
For Sale
$199,900
Pending
1312 Butternut Street, Utica, NY 13502
MULTI_FAMILY - Other - Utica, NY
Property Size2,016 SF
Lot Size0.09 Acres
Days on Market144
Property Features for 1312 Butternut Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Basement, Bathroom 1, Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 6, Bedroom 5
Patio and Porch features
Porch
Exterior features
EnclosedPorch, Porch
Appliances
GasWaterHeater
Subdivision
Delaware Park
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Utica
Middle school district
Utica
High school district
Utica
Directions
Off York
Standard status
Pending
APN
301600-318-054-0001-033-000-0000
Size
2,016 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
3488
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Varies
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Assist2Sell Buyers & Sellers 1st Choice · Assist-2-Sell
(315) 735-9244
Listed By:
Lisa A. Kowalczyk · License #10491203704
(315) 534-1301
Added: Apr 9
Changed: Aug 4
Last Checked: Aug 30 at 4:06PM
MLS# S1672325
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 well-maintained duplex sits on a corner lot and is designed for efficient day-to-day management with separate utilities, including water for each unit. Each unit features three bedrooms, updated interiors, and hardwood floors. Additional property features include an enclosed porch and a porch, with a basement and a gas water heater.
The property totals 2,016 square feet and was built in 1920, with natural gas forced-air heating and an asphalt roof. Public water service is provided. A two-car detached garage supports tenant parking and convenient access.
The duplex is currently occupied by long-term tenants.
The property totals 2,016 square feet and was built in 1920, with natural gas forced-air heating and an asphalt roof. Public water service is provided. A two-car detached garage supports tenant parking and convenient access.
The duplex is currently occupied by long-term tenants.
Key Highlights
- 0.0918‑acre corner lot
- 2,016 square feet
- Year built: 1920
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
$18,259
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
9.13%
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%
$365,180
$365.2K
Cap Rate 7%
$260,843
$260.8K
Cap Rate 9%
$202,878
$202.9K
Market Conditions
NOI Build-Up for 2,016 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
$27.8K $13.80/SF
− Vacancy
−$1.7K −$0.86/SF
EGI
$26.1K $12.94/SF
− OpEx
−$7.8K −$3.88/SF
NOI
$18.3K $9.06/SF
Area
Oneida County, NY
Vacancy
6.24%
Lease Rate
$13.80 /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%
$365,180
Cap Rate 7%
$260,843
Cap Rate 9%
$202,878
Alternative Uses
Best Use
Multifamily LT 5
$260.8K
$228.2K – $304.3K
NOI $18,259 @ 7.0% cap · market cap 9.13%
Second Best
Apartment 5plus
$239.7K
$209.8K – $279.7K
NOI $16,782 @ 7.0% cap · market cap 8.40%
Theoretical Best
Office A
$531.3K
$464.9K – $619.8K
NOI $37,188 @ 7.0% cap · market cap 18.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
576
Businesses Nearby
Explore this area
Business Placement
Demographics for 13502, NY
33,990
Population
15,337
Households
2.2
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
51.4 sq mi
ZIP Area
661
Density / Sq Mi
$59,530
Median Household Income
$36,927
Median Earnings
$965
Median Rent
$149,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with two-car detached garage and separate utilities, including water, for efficient management.
Where is this duplex located?
The property is located at 1312 Butternut Street Utica, NY.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 0.0918‑acre corner lot; 2,016 square feet; Year built: 1920
