Duplex with Central
For Sale
$194,900
Pending
139 Melrose Ave, Utica, NY 13502
Both residences have separate utilities, with exterior parking and a backyard.
Property Size2,002 SF
Days on Market47
Property Features for 139 Melrose Ave
General Information
Standard status
Pending
Size
2,002 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,243
Amenities
central air
backyard
Building Details
Building Size
2,002 SF
Year Built
1929
Units
2
Listed By:
Terry F Hoffman
(315) 796-4429
Source:
Elliman
Added: Sep 4
Changed: Oct 14
Last Checked: Oct 19 at 7:52AM
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 Terry F Hoffman
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Investment Insights
Based on property information with market context.
This two-family duplex was built in 1929 and contains two residential units. Central air is provided in both units, while separate utilities create distinct service arrangements for each residence. The exterior includes parking and a backyard.
Located at 139 Melrose Ave in Utica, NY 13502, the property has a Walk Score of 64 and a Bike Score of 39. The neighborhood setting provides access to area amenities within the Utica market.
Located at 139 Melrose Ave in Utica, NY 13502, the property has a Walk Score of 64 and a Bike Score of 39. The neighborhood setting provides access to area amenities within the Utica market.
Key Highlights
- Two‑family duplex with two residential units
- Central air in both units
- Separate utilities for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,666
Cap Rate
8.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$333,320
$333.3K
Cap Rate 7%
$238,086
$238.1K
Cap Rate 9%
$185,178
$185.2K
Market Conditions
NOI Build-Up for 2,002 SF
Gross rent
$32.4K $16.20/SF
− Vacancy
−$2.1K −$1.06/SF
EGI
$30.3K $15.14/SF
− OpEx
−$13.6K −$6.81/SF
NOI
$16.7K $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%
$333,320
Cap Rate 7%
$238,086
Cap Rate 9%
$185,178
Alternative Uses
Best Use
Multifamily LT 5
$259.0K
$226.7K – $302.2K
NOI $18,133 @ 7.0% cap · market cap 9.30%
Second Best
Apartment 5plus
$238.1K
$208.3K – $277.8K
NOI $16,666 @ 7.0% cap · market cap 8.55%
Theoretical Best
Office A
$527.6K
$461.6K – $615.5K
NOI $36,930 @ 7.0% cap · market cap 18.95%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
916
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have separate utilities, with exterior parking and a backyard.
Where is this duplex located?
The property is located at 139 Melrose Ave Utica, NY.
What is the asking price?
The asking price for this property is $194,900.
What are key features of this property?
This property features: Two‑family duplex with two residential units; Central air in both units; Separate utilities for each unit
