Renovated Triplex with Detached
For Sale
$274,900
625 Roosevelt Ave, Rome, NY 13440
Three residential units feature separate metering, off-street parking, and private outdoor space.
Property Size2,552 SF
Price / SF$107.72
Days on Market36
Property Features for 625 Roosevelt Ave
General Information
Standard status
Active
Size
2,552 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
3
Amenities
private off-street parking
long private driveway
3-car detached garage
deep backyard
two basement washer/dryer hookups
full basement
spacious attic
Building Details
Year Built
1945
Listing Agency:
Coldwell Banker Faith Properties
(315) 794-2994
Listed By:
Alicia Collver · License #10301220677
Source:
Skinnercnyrealty
Added: Jul 26
Changed: Aug 29
Last Checked: Aug 29 at 2:12PM
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.
Located at 625 Roosevelt Ave in Rome, NY, this three-unit residential property was built in 1945 and has received interior updates along with refreshed landscaping. The building includes a full basement with two washer/dryer hookups and a spacious attic for storage and utility flexibility.
Two apartments are occupied by current tenants, while the third is vacant. Each unit is separately metered with separate utilities. Exterior improvements include off-street parking, a long private driveway, a deep backyard, and a detached 3-car garage that adds storage capacity and may support additional rental use.
Two apartments are occupied by current tenants, while the third is vacant. Each unit is separately metered with separate utilities. Exterior improvements include off-street parking, a long private driveway, a deep backyard, and a detached 3-car garage that adds storage capacity and may support additional rental use.
Key Highlights
- Three‑unit property built in 1945
- Two occupied units and one recently vacated unit
- Separate metering and separate utilities for each unit
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
8.41%
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 8.41%
Second Best
Apartment 5plus
$303.5K
$265.6K – $354.1K
NOI $21,244 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$672.5K
$588.4K – $784.6K
NOI $47,075 @ 7.0% cap · market cap 17.12%
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units feature separate metering, off-street parking, and private outdoor space.
Where is this triplex located?
The property is located at 625 Roosevelt Ave Rome, NY.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: Three‑unit property built in 1945; Two occupied units and one recently vacated unit; Separate metering and separate utilities for each unit
