Well-Maintained Multi-Family Corner
For Sale
$199,900
Pending
1312 Butternut St, Utica, NY 13502
Multi-family property with updated interiors, long-term tenants, and income potential.
Property Size2,016 SF
Days on Market142
Property Features for 1312 Butternut St
General Information
Standard status
Pending
Size
2,016 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,488
Building Details
Building Size
2,016 SF
Year Built
1920
Stories
2
Units
2
Listing Agency:
Assist2Sell Buyer's & Seller's 1st Choice
(315) 534-1301
Listed By:
Lisa A. Kowalczyk · License #10491203704
(315) 534-1301
Source:
Elliman
Added: Apr 11
Changed: Aug 17
Last Checked: Aug 29 at 11:02AM
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 Buyer's & Seller's 1st Choice
Investment Insights
Based on property information with market context.
This multi-family property, situated on a corner lot, presents an investment opportunity for investors and owner-occupants. Each unit features 3 bedrooms and updated interiors. The units have hardwood floors and separate utilities, including water. A two-car detached garage provides convenient access. The property currently houses long-term tenants, providing immediate income, with potential for increased capital. The property has a bike score of 46, indicating it is somewhat bikeable, and a walk score of 50, indicating car-dependence.
Key Highlights
- Excellent investment opportunity with immediate income from long‑term tenants.
- Potential for increased capital and rental income.
- Each unit boasts 3 spacious bedrooms with updated interiors and hardwood floors.
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
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 - Multi-family property with updated interiors, long-term tenants, and income potential.
Where is this duplex located?
The property is located at 1312 Butternut St 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: Excellent investment opportunity with immediate income from long‑term tenants.; Potential for increased capital and rental income.; Each unit boasts 3 spacious bedrooms with updated interiors and hardwood floors.
