Renovated Three-Unit
For Sale
$264,900
625 Roosevelt Avenue, Rome, NY 13440
Separate utilities, off-street parking, and flexible occupancy support practical multifamily operations.
Property Size2,552 SF
Days on Market52
Property Features for 625 Roosevelt Avenue
General Information
Standard status
Active
Size
2,552 SF
Property subtype
Multi Family Home
Zoning
Residential Multi Use
Additional Details
Utilities to Site
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,626
Amenities
private off-street parking
washer/dryer hookups
full basement
spacious attic
deep backyard
Building Details
Building Size
2,552 SF
Year Built
1945
Stories
3
Units
2
Listing Agency:
Coldwell Banker Faith Properties
(315) 794-2994
Listed By:
Alicia Collver · License #10301220677
(315) 794-2994
Source:
Northstarwny
Added: Jul 1
Changed: Aug 15
Last Checked: Aug 20 at 1:41PM
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 Coldwell Banker Faith Properties
Investment Insights
Based on property information with market context.
This three-unit residential property at 625 Roosevelt Avenue in Rome, NY, was built in 1945 and has undergone recent interior and exterior renovations. The units are separately metered and have separate utilities. Two units are occupied by current tenants, while the third is vacant and offers flexibility for an owner occupant or a new tenancy.
Exterior improvements include off-street parking, a long private driveway, and a detached three-car garage. The property also provides a deep backyard, full basement, two basement washer and dryer hookups, and a spacious attic for storage and utility needs. Residential Multi Use zoning is identified for the property.
Exterior improvements include off-street parking, a long private driveway, and a detached three-car garage. The property also provides a deep backyard, full basement, two basement washer and dryer hookups, and a spacious attic for storage and utility needs. Residential Multi Use zoning is identified for the property.
Key Highlights
- Three‑family property with two occupied units and one recently vacated unit
- Separate meters and utilities for each unit
- Detached 3‑car garage, private driveway, and off‑street parking
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
$23,114
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
8.73%
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%
$462,280
$462.3K
Cap Rate 7%
$330,200
$330.2K
Cap Rate 9%
$256,822
$256.8K
Market Conditions
NOI Build-Up for 2,552 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
$35.2K $13.80/SF
− Vacancy
−$2.2K −$0.86/SF
EGI
$33.0K $12.94/SF
− OpEx
−$9.9K −$3.88/SF
NOI
$23.1K $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%
$462,280
Cap Rate 7%
$330,200
Cap Rate 9%
$256,822
Alternative Uses
Best Use
Multifamily LT 5
$330.2K
$288.9K – $385.2K
NOI $23,114 @ 7.0% cap · market cap 8.73%
Second Best
Apartment 5plus
$303.5K
$265.6K – $354.1K
NOI $21,244 @ 7.0% cap · market cap 8.02%
Theoretical Best
Office A
$672.5K
$588.4K – $784.6K
NOI $47,075 @ 7.0% cap · market cap 17.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
326
Businesses Nearby
Explore this area
Business Placement
Demographics for 13440, NY
41,024
Population
19,286
Households
2.1
Avg Household Size
42
Median Age
23%
College-Educated
88%
High-School Grad
116.5 sq mi
ZIP Area
352
Density / Sq Mi
$65,497
Median Household Income
$43,747
Median Earnings
$863
Median Rent
$155,800
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?
Triplex - Separate utilities, off-street parking, and flexible occupancy support practical multifamily operations.
Where is this triplex located?
The property is located at 625 Roosevelt Avenue Rome, NY.
What is the asking price?
The asking price for this property is $264,900.
What are key features of this property?
This property features: Three‑family property with two occupied units and one recently vacated unit; Separate meters and utilities for each unit; Detached 3‑car garage, private driveway, and off‑street parking
