Two-Family Residential Income
For Sale
$229,900
Pending
813 South St, Utica, NY 13501
Fully rented two-family home with separate utilities, mostly updated interiors, and ample on-site parking.
Property Size1,968 SF
Days on Market68
Property Features for 813 South St
General Information
Standard status
Pending
Size
1,968 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,272
Building Details
Building Size
1,968 SF
Year Built
1915
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Assist2Sell Buyers & Sellers 1st Choice
(315) 570-0148
Listed By:
Alen Zekic · License #10401267029
(315) 570-0148
Source:
Elliman
Added: Jun 22
Changed: Aug 22
Last Checked: Aug 26 at 11:46AM
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 residence is currently fully rented and set up for independent living, with separate utilities for each unit. The apartments have been mostly updated within the last few years, bringing more modernized interior finishes and helping reduce near-term maintenance concerns. Off-street, the property also includes a spacious parking area, supporting convenient day-to-day access for residents.
Located at 813 South St, Utica, NY, the home is described as being conveniently near downtown and within reach of schools, shopping, restaurants, and other local amenities. WalkScore is listed as 78 (very walkable), and bikeScore is listed as 65 (bikeable).
For investors or buyers looking for a turnkey income property, the combination of a fully rented status, separately metered utilities, and recently updated apartments can make unit management more straightforward. The parking and established residential setting are also practical considerations for maintaining tenant convenience across both units.
Located at 813 South St, Utica, NY, the home is described as being conveniently near downtown and within reach of schools, shopping, restaurants, and other local amenities. WalkScore is listed as 78 (very walkable), and bikeScore is listed as 65 (bikeable).
For investors or buyers looking for a turnkey income property, the combination of a fully rented status, separately metered utilities, and recently updated apartments can make unit management more straightforward. The parking and established residential setting are also practical considerations for maintaining tenant convenience across both units.
Key Highlights
- Fully rented East Utica 2‑family home
- Separate utilities for each apartment
- Both apartments mostly updated within the last few years
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
$17,825
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
7.75%
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%
$356,500
$356.5K
Cap Rate 7%
$254,643
$254.6K
Cap Rate 9%
$198,056
$198.1K
Market Conditions
NOI Build-Up for 1,968 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
$27.2K $13.80/SF
− Vacancy
−$1.7K −$0.86/SF
EGI
$25.5K $12.94/SF
− OpEx
−$7.6K −$3.88/SF
NOI
$17.8K $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%
$356,500
Cap Rate 7%
$254,643
Cap Rate 9%
$198,056
Alternative Uses
Best Use
Multifamily LT 5
$254.6K
$222.8K – $297.1K
NOI $17,825 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$234.0K
$204.8K – $273.1K
NOI $16,383 @ 7.0% cap · market cap 7.13%
Theoretical Best
Office A
$518.6K
$453.8K – $605.1K
NOI $36,303 @ 7.0% cap · market cap 15.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
699
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Fully rented two-family home with separate utilities, mostly updated interiors, and ample on-site parking.
Where is this duplex located?
The property is located at 813 South St Utica, NY.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Fully rented East Utica 2‑family home; Separate utilities for each apartment; Both apartments mostly updated within the last few years
