East Utica Three-Family
For Sale
$330,000
1007 Morris, Utica, NY 13501
Spacious three-family home in East Utica with strong rental potential.
Property Size3,444 SF
Price / SF$95.82
Days on Market158
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Property Features for 1007 Morris
General Information
Standard status
Active
Size
3,444 SF
Property subtype
Multi-Family
Building Details
Year Built
1935
Listing Agency:
Assist2Sell Buyers & Sellers 1st Choice
Listed By:
Alen Zekic · License #10401267029
(315) 570-0148
Source:
Skinnercnyrealty
Added: May 11
Changed: Oct 15
Last Checked: Oct 7 at 2:44PM
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 Assist2Sell Buyers & Sellers 1st Choice
Investment Insights
Based on property information with market context.
This East Utica property offers 3,444 square feet of living space and features three apartments, each with three bedrooms. The property is suitable as an investment or for owner-occupancy, allowing the owner to live in one unit while renting the others. Each apartment has separate utilities. Additional features include ample parking, a backyard of considerable size, and a newer-built two-car garage. The property is conveniently located near local amenities, shopping, schools, and restaurants. The location has a walk score of 48, indicating car-dependence, and a bike score of 42, indicating it is somewhat bikeable.
Key Highlights
- Three spacious 3‑bedroom apartments offering 3,444 sq ft of living space.
- Ideal for owner‑occupants or investors seeking rental income.
- Separate utilities for each apartment.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,670
Cap Rate
8.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$573,400
$573.4K
Cap Rate 7%
$409,571
$409.6K
Cap Rate 9%
$318,556
$318.6K
Market Conditions
NOI Build-Up for 3,444 SF
Gross rent
$55.8K $16.20/SF
− Vacancy
−$3.7K −$1.06/SF
EGI
$52.1K $15.14/SF
− OpEx
−$23.5K −$6.81/SF
NOI
$28.7K $8.32/SF
Area
Oneida County, NY
Vacancy
6.57%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$573,400
Cap Rate 7%
$409,571
Cap Rate 9%
$318,556
Alternative Uses
Best Use
Apartment 5plus
$409.6K
$358.4K – $477.8K
NOI $28,670 @ 7.0% cap · market cap 8.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$907.6K
$794.1K – $1.06M
NOI $63,529 @ 7.0% cap · market cap 19.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,049
Businesses Nearby
Explore this area
Business Placement
Demographics for 13501, NY
40,885
Population
17,071
Households
2.4
Avg Household Size
35
Median Age
22%
College-Educated
78%
High-School Grad
8.8 sq mi
ZIP Area
4,646
Density / Sq Mi
$49,771
Median Household Income
$33,632
Median Earnings
$865
Median Rent
$136,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Spacious three-family home in East Utica with strong rental potential.
Where is this multifamily property located?
The property is located at 1007 Morris Utica, NY.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Three spacious 3‑bedroom apartments offering 3,444 sq ft of living space.; Ideal for owner‑occupants or investors seeking rental income.; Separate utilities for each apartment.
