Two-Unit Residential Income
337 First Avenue Frankfort, NY 13340
New
For Sale
$174,900
MULTI_FAMILY - Frankfort, NY
Property Size1,712 SF
Price / SF$102.16
Days on Market2
Property Features for 337 First Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Rooms
Bedroom 2, Bedroom 6, Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 3, Bedroom 3, Bathroom 1, Basement, Bedroom 5
Parking features
Garage
Appliances
GasWaterHeater
Standard status
Active
APN
112.82-1-18
Size
1,712 SF
Taxes and HOA fees
Tax Annual Amount
3310
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
3
Flooring type
Carpet, Varies, Hardwood, Vinyl
Building materials
VinylSiding
Listing Agency:
River Hills Properties LLC Lf
(315) 508-5268
Listed By:
Brandon Mosher · License #10301224028
(315) 868-4596
Added: Jul 27
Last Checked: Jul 28 at 6:06PM
MLS# S1702011
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 two-family duplex at 337 First Avenue is being sold as a package with an additional home at 116 Reese Road. The offering includes a garage that is under an existing lease, and the current owner will continue that lease after closing.
The property is located in Frankfort, New York, in Herkimer County.
The duplex configuration provides a two-unit residential setup, paired with the included leased garage and the bundled second home as part of the same transaction.
The property is located in Frankfort, New York, in Herkimer County.
The duplex configuration provides a two-unit residential setup, paired with the included leased garage and the bundled second home as part of the same transaction.
Key Highlights
- 2‑family home at 337 First Avenue, built in 1920
- Package includes 337 First Avenue plus an additional home at 116 Reese Road
- Public water service and natural gas forced‑air heating
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
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two-family home offered as part of a package with an additional home, including a garage under an existing lease.
Where is this duplex located?
The property is located at 337 First Avenue 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: 2‑family home at 337 First Avenue, built in 1920; Package includes 337 First Avenue plus an additional home at 116 Reese Road; Public water service and natural gas forced‑air heating
