Two-Unit
New
For Sale
$269,900
1906 Baker Avenue, Utica, NY 13501
Residential, Utica, NY
Property Size2,730 SF
Lot Size0.12 Acres
Price / SF$98.86
Days on Market2
Property Features for 1906 Baker Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 3, Basement, Bathroom 1, Bedroom 1
Patio and Porch features
Porch
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Utica
Middle school district
Utica
High school district
Utica
Subdivision
Utica-City-301600
Standard status
Active
APN
301600-330-030-0002-018-000-0000
Size
2,730 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
3958
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
laundry hook ups
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Varies
Building materials
WoodSiding
Roof type
Asphalt
Listing Agency:
Assist2Sell Buyers & Sellers 1st Choice · Assist-2-Sell
(315) 735-9244
Listed By:
Lisa A. Kowalczyk · License #10491203704
(315) 534-1301
Added: Sep 30
Changed: Oct 1
Last Checked: Oct 1 at 11:06PM
MLS# S1718534
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,730-square-foot duplex contains two three-bedroom residences, each with laundry hookups. Both units are occupied, and the property includes off-street parking. Built in 1920, the building has wood siding, hardwood and varied flooring, forced-air natural gas heat, and a porch.
The property occupies 0.1249 acres and is served by public water.
The property occupies 0.1249 acres and is served by public water.
Key Highlights
- Two units, each with 3 bedrooms
- 2,730 square feet on 0.1249 acres
- Both residences are currently occupied
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
$24,726
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
9.16%
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%
$494,520
$494.5K
Cap Rate 7%
$353,229
$353.2K
Cap Rate 9%
$274,733
$274.7K
Market Conditions
NOI Build-Up for 2,730 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
$37.7K $13.80/SF
− Vacancy
−$2.4K −$0.86/SF
EGI
$35.3K $12.94/SF
− OpEx
−$10.6K −$3.88/SF
NOI
$24.7K $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%
$494,520
Cap Rate 7%
$353,229
Cap Rate 9%
$274,733
Alternative Uses
Best Use
Multifamily LT 5
$353.2K
$309.1K – $412.1K
NOI $24,726 @ 7.0% cap · market cap 9.16%
Second Best
Apartment 5plus
$324.7K
$284.1K – $378.8K
NOI $22,726 @ 7.0% cap · market cap 8.42%
Theoretical Best
Office A
$719.4K
$629.5K – $839.3K
NOI $50,359 @ 7.0% cap · market cap 18.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
578
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Both residences have three bedrooms, laundry hookups, and current tenants.
Where is this duplex located?
The property is located at 1906 Baker Avenue Utica, NY.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Two units, each with 3 bedrooms; 2,730 square feet on 0.1249 acres; Both residences are currently occupied
