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    1307 Floyd Ave Rome, NY 13440
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    1307 Floyd Ave Rome, NY 13440

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    • Apartment buildings
    • 3,589 SF
    • 1.00 lot acres
    For Sale
    $189,900
    View Listing →
    Rome Multi-Family Investment Opportunity For Sale
    $189,900
    3,589 SF

    Rome Multi-Family Investment Opportunity

    High-yield rental property near MVCC.

    1307 Floyd Ave, Rome, NY 13440
    View Listing
    Property ID
    US63-2781251
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1307 Floyd Ave

    Year built
    1935
    Lot size
    1.00 lot acres
    Property size
    3,589 SF
    Property type
    Apartment buildings

    Description

    This exceptional income-producing property at 1307 Floyd Ave, Rome, NY, presents a compelling investment opportunity. The property encompasses a substantial 3,589 square feet situated on a one-acre lot, providing ample parking. The complex comprises five rental units in total, strategically divided between two buildings. The Gray house contains two units, each boasting two bedrooms and one bathroom

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Rome
    County
    Oneida
    State
    New York
    Longitude
    -75.4239
    Latitude
    43.22157

    Comparable in this City

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      Multifamily Property in Rome, NY

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      Rooming House Investment Opportunity

      Rooming house with eight rooms, generating monthly income.
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      Mixed-Use Property with Storefront

      Mixed-use property featuring a commercial storefront and residential apartments.
      433 S James St, Rome, NY 13440
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      Multi-Unit Apartment Buildings For Sale

      Multi-unit apartment buildings offer income and equity potential.
      601-603 N Washington St, Rome, NY 13440
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    • New
      $190,000
      Pending

      Multifamily Investment Opportunity in Rome

      Rooming house with eight rooms, generating income.
      207 W Bloomfield St, Rome, NY 13440
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    Similar Nearby for Sale

    • $329,000

      Multi-Unit Apartment Buildings For Sale

      Multi-unit apartment buildings offer income and equity potential.
      601-603 N Washington St, Rome, NY 13440
      View Details
    • New
      $190,000
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      Multifamily Investment Opportunity in Rome

      Rooming house with eight rooms, generating income.
      207 W Bloomfield St, Rome, NY 13440
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    • $180,000
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      Income-Producing Multifamily Property

      Nine-unit property designed to generate income in Accord, NY.
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      8,224 SF

      Mixed-Use Investment Property For Sale

      Partially equipped bar/restaurant, apartments, mobile home, and pad site.
      7949 New Floyd Rd, Rome, NY 13440
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    • New
      $329,000
      Pending

      Multifamily Property in Rome, NY

      Multifamily buildings suitable for investors in Rome, NY.
      601-603 N Washington St, Rome, NY 13440
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      29,400 SF

      Rehabilitated Office Building Multifamily Potential

      Three-story office building suitable for multifamily conversion.
      421 Ridge St, Rome, NY 13440
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    • $2,500 /Mo
      4,792 SF

      Prime Commercial Property on Floyd Avenue

      Well-maintained commercial property in Rome, NY, suitable for various businesses.
      1109 Floyd Ave, Rome, NY 13440
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    • Contact for pricing
      500 SF

      Retail Space Available For Rent

      500 square feet of retail space for lease.
      1721 Black River Blvd N, Rome, NY 13440
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      Retail Space in Grocery-Anchored Center

      Inline retail space available in Rome, NY shopping center.
      205 Erie Blvd W, Rome, NY 13440
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      Retail Space in Rome, NY

      Retail space in a thriving Rome, NY community.
      510 N James St, Rome, NY 13440
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      2,300 SF

      Office Space Available For Rent

      Office space available for rent, approximately 2,300 square feet.
      1617 N James St, Rome, NY 13440
      View Details
    View Listing
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    Rome, NY 13440
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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