Updated Two-Family
For Sale
$153,000
330 Gilbert St, Utica, NY 13501
Two residential units feature refreshed interiors, separate utilities, and on-site parking.
Property Size1,592 SF
Days on Market14
Property Features for 330 Gilbert St
General Information
Standard status
Active
Size
1,592 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,650
Building Details
Building Size
1,592 SF
Year Built
1900
Buildings
1
Stories
2
Units
2
Listing Agency:
Assist2Sell Buyers & Sellers 1st Choice
Listed By:
Alen Zekic · License #10401267029
(315) 570-0148
Source:
Elliman
Added: Sep 1
Changed: Sep 13
Last Checked: Sep 13 at 7:12AM
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.
This two-family property contains two residential apartments with updated kitchens and bathrooms. Interior improvements include laminate flooring throughout, fresh paint, and newly installed sheetrock in some areas. Separate utilities support distinct unit operations, while the property also provides a dedicated parking area.
Built in 1900, the duplex is located at 330 Gilbert St in Utica, NY. Walk Score is 61 and Bike Score is 44, reflecting somewhat walkable and somewhat bikeable conditions. The property suits an owner-occupant or investor seeking a two-unit residential building with completed interior updates and functional site amenities.
Built in 1900, the duplex is located at 330 Gilbert St in Utica, NY. Walk Score is 61 and Bike Score is 44, reflecting somewhat walkable and somewhat bikeable conditions. The property suits an owner-occupant or investor seeking a two-unit residential building with completed interior updates and functional site amenities.
Key Highlights
- Two‑family duplex with two residential apartments
- Updated kitchens and bathrooms in both apartments
- Laminate flooring throughout with fresh interior paint
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
$13,253
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
8.66%
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%
$265,060
$265.1K
Cap Rate 7%
$189,329
$189.3K
Cap Rate 9%
$147,256
$147.3K
Market Conditions
NOI Build-Up for 1,592 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
$25.8K $16.20/SF
− Vacancy
−$1.7K −$1.06/SF
EGI
$24.1K $15.14/SF
− OpEx
−$10.8K −$6.81/SF
NOI
$13.3K $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%
$265,060
Cap Rate 7%
$189,329
Cap Rate 9%
$147,256
Alternative Uses
Best Use
Multifamily LT 5
$206.0K
$180.2K – $240.3K
NOI $14,419 @ 7.0% cap · market cap 9.42%
Second Best
Apartment 5plus
$189.3K
$165.7K – $220.9K
NOI $13,253 @ 7.0% cap · market cap 8.66%
Theoretical Best
Office A
$419.5K
$367.1K – $489.5K
NOI $29,367 @ 7.0% cap · market cap 19.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
348
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature refreshed interiors, separate utilities, and on-site parking.
Where is this duplex located?
The property is located at 330 Gilbert St Utica, NY.
What is the asking price?
The asking price for this property is $153,000.
What are key features of this property?
This property features: Two‑family duplex with two residential apartments; Updated kitchens and bathrooms in both apartments; Laminate flooring throughout with fresh interior paint
