Building Details

Building Size 1,630 SF

Year Built 1920

Stories 2

Units 2

Listing Agency: Keller Williams Realty Syracuse k***@kw.com Show Phone

Listed By: Kelly Ryan Vidakovic · License #10401319715 Show Phone

Source: Elliman

Added: Apr 11 Changed: Aug 8 Last Checked: Aug 26 at 9:58AM

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Investment Insights

Based on property information with market context.

This updated two-family home is situated on 9.3 acres and offers panoramic views. The property includes two units, each featuring 2 bedrooms and 1 bath. The units are nearly identical in layout and filled with natural light. The property is suitable for various uses, including living in one unit and renting the other, creating a multigenerational home, or building on the remaining acreage. A detached garage/barn with attic storage provides additional versatility. The property is located close to Clinton and minutes from Utica, Rome, and Hamilton, offering both privacy and convenience.

Key Highlights

• 9.3 acres of land with panoramic views
• Two‑family home, ideal for rental income or multi‑generational living
• Updated units with quality craftsmanship, each with 2 bedrooms and 1 bath

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

$14,763

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

4.49%

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%

$295,260 $295.3K

Cap Rate 7%

$210,900 $210.9K

Cap Rate 9%

$164,033 $164.0K

Market Conditions

NOI Build-Up for 1,630 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

$22.5K $13.80/SF

− Vacancy

−$1.4K −$0.86/SF

EGI

$21.1K $12.94/SF

− OpEx

−$6.3K −$3.88/SF

NOI

$14.8K $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%

$295,260

Cap Rate 7%

$210,900

Cap Rate 9%

$164,033

Alternative Uses

Best Use

Multifamily LT 5

$210.9K

$184.5K – $246.1K (±1% cap)

NOI $14,763 @ 7.0% cap · market cap 4.49%

Second Best

Apartment 5plus

$193.8K

$169.6K – $226.2K (±1% cap)

NOI $13,569 @ 7.0% cap · market cap 4.12%

Theoretical Best

Office A

$429.5K

$375.9K – $501.1K (±1% cap)

NOI $30,068 @ 7.0% cap · market cap 9.14%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Bed & Breakfast Gym & Fitness Center Department Store Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

7

Businesses Nearby

Explore this area Business Placement

Demographics for 13328, NY

1,147

Population

580

Households

2

Avg Household Size

45

Median Age

26%

College-Educated

96%

High-School Grad

15.7 sq mi

ZIP Area

73

Density / Sq Mi

$95,000

Median Household Income

$52,833

Median Earnings

$863

Median Rent

$200,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Updated two-family home on 9.3 acres with panoramic views.

Where is this duplex located?

The property is located at 6651 W Hill Rd Deansboro, NY.

What is the asking price?

The asking price for this property is $329,000.

What are key features of this property?

This property features: 9.3 acres of land with panoramic views; Two‑family home, ideal for rental income or multi‑generational living; Updated units with quality craftsmanship, each with 2 bedrooms and 1 bath