Building Details

Building Size 2,000 SF

Year Built 1920

Stories 2

Units 2

Listing Agency: Miner Realty & Prop Management

Listed By: Feidy J Miner Show Phone

Source: Elliman

Added: May 31 Changed: Oct 6 Last Checked: Oct 15 at 12:14AM

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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 Miner Realty & Prop Management

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Investment Insights

Based on property information with market context.

This 2,000-square-foot duplex contains two residential units within a 1920-built property. The first-floor residence has three bedrooms, while the upper unit includes two bedrooms. Additional interior space includes a finished attic with storage capability.

Recent work includes replacement water heaters, furnaces, roofing, siding, and spray foam insulation throughout the property and basement. Exterior features include vinyl siding, a carport, and a rectangular lot measuring 46 by 60 feet. The property is located at 1303 Neilson Street in Utica, New York.

Key Highlights

• Two‑unit duplex with 2,000 square feet of property size
• First‑floor unit has 3 bedrooms; second‑floor unit has 2 bedrooms
• Finished attic with attic storage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,114

Cap Rate

7.39%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$362,280 $362.3K

Cap Rate 7%

$258,771 $258.8K

Cap Rate 9%

$201,267 $201.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,000 SF

Gross rent

$27.6K $13.80/SF

− Vacancy

−$1.7K −$0.86/SF

EGI

$25.9K $12.94/SF

− OpEx

−$7.8K −$3.88/SF

NOI

$18.1K $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 Rate 5%

$362,280

Cap Rate 7%

$258,771

Cap Rate 9%

$201,267

Alternative Uses

Best Use

Multifamily LT 5

$258.8K

$226.4K – $301.9K (±1% cap)

NOI $18,114 @ 7.0% cap · market cap 7.39%

Second Best

Apartment 5plus

$237.8K

$208.1K – $277.5K (±1% cap)

NOI $16,649 @ 7.0% cap · market cap 6.80%

Theoretical Best

Office A

$527.0K

$461.2K – $614.9K (±1% cap)

NOI $36,893 @ 7.0% cap · market cap 15.06%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Storage Facility Electrical Service Plumbing Service Skin Care Clinic Veterinary Clinic

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

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

784

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two-unit property with distinct three-bedroom and two-bedroom residences, plus attic space and multiple recent improvements.

Where is this duplex located?

The property is located at 1303 Neilson St Utica, NY.

What is the asking price?

The asking price for this property is $245,000.

What are key features of this property?

This property features: Two‑unit duplex with 2,000 square feet of property size; First‑floor unit has 3 bedrooms; second‑floor unit has 2 bedrooms; Finished attic with attic storage