Renovated Duplex with
New
For Sale
$225,000
128 Louisa St, Utica, NY 13501
Two updated units provide flexible occupancy options with off-street parking and an adjoining parcel of vacant land.
Property Size2,424 SF
Price / SF$92.82
Days on Market3
Property Features for 128 Louisa St
General Information
Standard status
Active
Size
2,424 SF
Property subtype
Multi Family
Additional Details
Fenced Yard
Yes
Land Use
residential
Taxes and HOA fees
Annual Taxes
$2,811
Building Details
Building Size
2,424 SF
Year Built
1900
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Assist2Sell Buyers & Sellers 1st Choice
Listed By:
Khai Vuong · License #10401387938
(315) 922-4747
Source:
Elliman
Added: Sep 4
Last Checked: Sep 6 at 10:33AM
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.
Built in 1900, this duplex contains 2,424 total square feet divided between two 3-bedroom, 1-bath units, each measuring 1,212 square feet. The property has undergone extensive renovation, including new kitchen appliances, flooring, bathrooms, furnace, electrical panels, and water heaters. It is currently vacant, allowing for immediate owner occupancy or leasing.
The sale includes the adjoining parcel identified as Tax Map 318.66-4-47. A fenced yard connects the two parcels, while a new stone and gravel parking area provides off-street parking. The property is located at 128 Louisa St in Utica, New York.
The sale includes the adjoining parcel identified as Tax Map 318.66-4-47. A fenced yard connects the two parcels, while a new stone and gravel parking area provides off-street parking. The property is located at 128 Louisa St in Utica, New York.
Key Highlights
- 2,424 total square feet across two units
- Two 3‑bedroom, 1‑bath units, each 1,212 SF
- Renovated with new appliances, flooring, bathrooms, furnace, electrical panels, and water heaters
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
$20,179
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
8.97%
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%
$403,580
$403.6K
Cap Rate 7%
$288,271
$288.3K
Cap Rate 9%
$224,211
$224.2K
Market Conditions
NOI Build-Up for 2,424 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
$39.3K $16.20/SF
− Vacancy
−$2.6K −$1.06/SF
EGI
$36.7K $15.14/SF
− OpEx
−$16.5K −$6.81/SF
NOI
$20.2K $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 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%
$403,580
Cap Rate 7%
$288,271
Cap Rate 9%
$224,211
Alternative Uses
Best Use
Multifamily LT 5
$313.6K
$274.4K – $365.9K
NOI $21,955 @ 7.0% cap · market cap 9.76%
Second Best
Apartment 5plus
$288.3K
$252.2K – $336.3K
NOI $20,179 @ 7.0% cap · market cap 8.97%
Theoretical Best
Office A
$638.8K
$558.9K – $745.2K
NOI $44,714 @ 7.0% cap · market cap 19.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,389
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two updated units provide flexible occupancy options with off-street parking and an adjoining parcel of vacant land.
Where is this duplex located?
The property is located at 128 Louisa St Utica, NY.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 2,424 total square feet across two units; Two 3‑bedroom, 1‑bath units, each 1,212 SF; Renovated with new appliances, flooring, bathrooms, furnace, electrical panels, and water heaters
