Duplex with Separate
For Sale
$239,000
142 N Mechanic Street, Carthage, NY 13619
Residential, Carthage, NY
Property Size2,972 SF
Lot Size0.30 Acres
Price / SF$80.42
Days on Market38
Property Features for 142 N Mechanic Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 3, Basement, Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 6, Bedroom 5, Bedroom 4
Parking features
Paved or Surfaced
Patio and Porch features
Deck, Porch
Exterior features
Deck
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot
Elementary school district
Carthage
Middle school district
Carthage
High school district
Carthage
Directions
From State St turn onto N Mechanic St. property is located on your right.
Subdivision
Carthage-Village-226001
Standard status
Active
APN
226001-086-041-0001-054-200
Size
2,972 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Annual Amount
3630
Utilities
Heating system
Forced Air, Baseboard, Natural Gas
Water source
Public
Amenities
back deck
large yard
Building Details
Year built
1889
Floors in Building
2
Number of units
1
Flooring type
Varies, Vinyl, Hardwood
Building materials
WoodSiding
Listing Agency:
TLC Real Estate LLC - Carthage
(315) 493-1111
Listed By:
LuAnn Twombly · License #10401286142
(315) 783-6455
Added: Aug 16
Changed: Sep 16
Last Checked: Sep 22 at 4:06PM
MLS# S1707382
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 2,972-square-foot duplex contains two separate living units within a wood-sided property built in 1889. The larger apartment includes 4-5 bedrooms, a formal dining room, a substantial living room, built-in closet storage, and an open staircase. The second unit has been renovated and provides 1 bedroom, 1 full bath, and an eat-in kitchen. Both units have natural gas heat, with separate gas and electric meters supporting independent utility management.
Set on 0.2996 acres in Carthage, the property includes a large yard, paved off-street parking, a porch, and a deck. Public water serves the building. The configuration supports an owner-occupant arrangement or continued use as a two-unit residential income property.
Set on 0.2996 acres in Carthage, the property includes a large yard, paved off-street parking, a porch, and a deck. Public water serves the building. The configuration supports an owner-occupant arrangement or continued use as a two-unit residential income property.
Key Highlights
- 2,972 square feet on 0.2996 acres
- Two‑unit duplex with 4‑5 bedrooms in one unit and 1 bedroom in the other
- Renovated second unit with 1 full bath and eat‑in kitchen
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
$21,891
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
9.16%
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%
$437,820
$437.8K
Cap Rate 7%
$312,729
$312.7K
Cap Rate 9%
$243,233
$243.2K
Market Conditions
NOI Build-Up for 2,972 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
$42.8K $14.40/SF
− Vacancy
−$3.0K −$1.01/SF
EGI
$39.8K $13.39/SF
− OpEx
−$17.9K −$6.03/SF
NOI
$21.9K $7.37/SF
Area
Jefferson County, NY
Vacancy
7.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
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%
$437,820
Cap Rate 7%
$312,729
Cap Rate 9%
$243,233
Alternative Uses
Best Use
Multifamily LT 5
$349.6K
$305.9K – $407.8K
NOI $24,470 @ 7.0% cap · market cap 10.24%
Second Best
Apartment 5plus
$312.7K
$273.6K – $364.9K
NOI $21,891 @ 7.0% cap · market cap 9.16%
Theoretical Best
Office A
$819.3K
$716.9K – $955.8K
NOI $57,348 @ 7.0% cap · market cap 23.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
Explore this area
Business Placement
Demographics for 13619, NY
10,600
Population
4,649
Households
2.3
Avg Household Size
38
Median Age
19%
College-Educated
87%
High-School Grad
112.7 sq mi
ZIP Area
94
Density / Sq Mi
$63,549
Median Household Income
$44,792
Median Earnings
$984
Median Rent
$171,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units include a renovated one-bedroom apartment, natural gas heating, outdoor space, and paved off-street parking.
Where is this duplex located?
The property is located at 142 N Mechanic Street Carthage, NY.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: 2,972 square feet on 0.2996 acres; Two‑unit duplex with 4‑5 bedrooms in one unit and 1 bedroom in the other; Renovated second unit with 1 full bath and eat‑in kitchen
