Two-Family Duplex with Leased
New
For Sale
$174,900
337 First Ave, Frankfort, NY 13340
Two-family duplex built in 1920 with a garage under an existing lease for immediate rental income.
Days on Market2
Property Features for 337 First Ave
General Information
Standard status
Active
Property subtype
Multi Family
Building Details
Building Size
1,712 SF
Year Built
1920
Buildings
2
Listing Agency:
River Hills Properties LLC
(315) 868-4596
Listed By:
Brandon Mosher · License #10301224028
(315) 868-4596
Source:
Elliman
Added: Jul 29
Changed: Jul 30
Last Checked: Jul 30 at 5:33AM
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 River Hills Properties LLC
Investment Insights
Based on property information with market context.
This two-family duplex at 337 First Ave was built in 1920 and is offered as part of a package with an additional home at 116 Reese Road. The property configuration is designed to support built-in income potential across two properties.
The sale also includes a garage under an existing lease. The current owner will continue that lease after closing, providing immediate rental income from day one.
Bike and walk scores indicate a more car-dependent setting, with bikeScore of 20 (Somewhat Bikeable) and walkScore of 1 (Car-Dependent).
The sale also includes a garage under an existing lease. The current owner will continue that lease after closing, providing immediate rental income from day one.
Bike and walk scores indicate a more car-dependent setting, with bikeScore of 20 (Somewhat Bikeable) and walkScore of 1 (Car-Dependent).
Key Highlights
- Two‑family duplex built in 1920
- Offered as a package with an additional home at 116 Reese Road
- Garage included under an existing lease
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $23.6k | $13.80 |
| − Vacancy | −$1.5k | −$0.86 |
| EGI | $22.2k | $12.94 |
| − OpEx | −$6.6k | −$3.88 |
| NOI | $15.5k | $9.06 |
1,712 SF · lease $13.80/SF/yr · vacancy 6.24% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$221.5K
$193.8K – $258.4K
NOI $15,506 @ 7.0% cap · market cap 8.87%
Second Best
Apartment 5plus
$203.6K
$178.2K – $237.5K
NOI $14,252 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$451.1K
$394.8K – $526.3K
NOI $31,580 @ 7.0% cap · market cap 18.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
78
Businesses Nearby
Explore this area
Business Placement
Demographics for 13340, NY
7,652
Population
3,427
Households
2.2
Avg Household Size
45
Median Age
22%
College-Educated
94%
High-School Grad
60.3 sq mi
ZIP Area
127
Density / Sq Mi
$69,928
Median Household Income
$44,464
Median Earnings
$872
Median Rent
$143,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-family duplex built in 1920 with a garage under an existing lease for immediate rental income.
Where is this duplex located?
The property is located at 337 First Ave Frankfort, NY.
What is the asking price?
The asking price for this property is $174,900.
What are key features of this property?
This property features: Two‑family duplex built in 1920; Offered as a package with an additional home at 116 Reese Road; Garage included under an existing lease
