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    Triplex with Converted Garage Title is generated by Realmo AI

    8 Clinton Street, New York Mills, NY 13417

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    Claim this Listing
    New
    For Sale
    $250,000

    MULTI_FAMILY - Other - New York Mills, NY

    Property size:
    2,488 SF
    Lot size:
    0.28 Acres
    Price / SF:
    $100/SF
    Added:
    Jun 2, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 2 at 6:06 pm

    Property Features for 8 Clinton Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    3
    Rooms
    Bathroom 3, Bedroom 5, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3, Basement, Bedroom 4
    Patio and Porch features
    Deck
    Exterior features
    Deck
    Fireplace
    1
    Appliances
    ElectricWaterHeater, GasWaterHeater
    Standard status
    Active
    APN
    304803-317-013-0001-015-001-0000
    Size
    2,488 SF
    Lot size
    0.28 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3553

    Utilities

    Heating system
    Natural Gas, Space Heater, Forced Air
    Water source
    Public

    Building Details

    Year built
    1870
    Floors in Building
    2
    Number of units
    3
    Flooring type
    Tile, Vinyl, Varies, Carpet
    Building materials
    Stone, VinylSiding
    Roof type
    Rubber, Asphalt, Membrane, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Vincent J. Scalise

    Listing agent Vincent J. Scalise License #10401318393

    Listing office Coldwell Banker Faith Properties 2811 Genesee St, Utica, NY

    Listing date Jun 2, 2026

    MLS# S1686825 Listing URL

    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.

    HighLights

    • 3 residential units plus a converted garage with electricity (former location of a furniture refinishing and retail shop)
    • Fireplace in the home; basement included
    • Year built 1870
    • Public water source
    • Deck on the exterior
    • Heating includes forced air and natural gas; electric and gas water heaters

    Overview

    This well-maintained triplex features three residential units that are currently occupied, providing immediate rental continuity. In addition to the primary residential layout, there is a converted garage with electricity, which previously served as a furniture refinishing and retail shop location. The property also offers an outbuilding option that allows buyers to explore additional ideas for expansion or alternative functional use, subject to applicable approvals.

    Located at 8 Clinton Street in New York Mills, the property benefits from a prime setting with high visibility. Its lot size is listed at 0.28 acres, giving it a manageable footprint for continued residential use alongside the existing garage conversion.

    For investors and owner-occupants seeking a small, income-producing multifamily asset, this triplex offers a straightforward structure with three units already in place and maintained. The electrically serviced garage adds versatility beyond the residential component and may support light commercial-style storage, workspace, or other permitted adaptations. The property’s condition and existing occupancy make it a practical option for buyers looking for a stable start, with potential to tailor the outbuilding to their long-term plan.
    Property Profile Location Intelligence

    Current Use by Public Records

    Williams Painted Furniture Furniture & Home Goods

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York Mills
    County
    Oneida
    State
    New York
    Longitude
    -75.298452
    Latitude
    43.095922

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    FAQs

    What type of property is this?
    Triplex - Well-maintained three-unit triplex with an electric-converted garage outbuilding for flexible income or storage use.
    Where is this triplex located?
    The property is located at 8 Clinton Street New York Mills, NY.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: 3 residential units plus a converted garage with electricity (former location of a furniture refinishing and retail shop); Fireplace in the home; basement included; Year built 1870
    (315) 749-3566
    We can help!
    Listing Contact
    Vincent J. Scalise
    Real Estate License ID: 10401318393
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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