Updated Duplex with Private
For Sale
$299,000
1701 Watson Boulevard, Endicott, NY 13760
MultiFamily, Duplex, ENDICOTT, NY
Property Size2,184 SF
Price / SF$136.90
Days on Market185
Property Features for 1701 Watson Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
res
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 1, Bathroom 1, Bathroom 2, Basement, Bedroom 3, Bedroom 4, Bedroom 6, Bedroom 2
Patio and Porch features
Deck
Exterior features
COVERED DECK, DECK OPEN, SHED
Appliances
RANGE/STOVE, REFRIGERATOR
Subdivision
Endicott Land Co Sub Plot
Lot features
G E N E R A L L Y L E V E L
Elementary school
George F. Johnson
Elementary school district
Union Endicott
Middle school district
Union Endicott
High school district
Union Endicott
Directions
Corner of Watson Blvd and N. Roosevelt. Front door on N Roosevelt.
Standard status
Active
APN
034601-141-019-0006-020-000-0000
Size
2,184 SF
Utilities
Heating system
Forced Air
Water source
Public
Amenities
decks
private basements
Building Details
Year built
1986
Number of units
2
Flooring type
Vinyl
Building materials
Vinyl Clad Aluminum
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY GREATER BINGHAMTON
(607) 722-0722
Listed By:
Erin C. Whited
(607) 727-5609
Added: Feb 25
Changed: Aug 19
Last Checked: Aug 29 at 3:06PM
MLS# 334777
Copyright © 2026 Greater Binghamton Association of Realtor. 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 2,184-square-foot duplex contains two three-bedroom, one-bath apartments, each with a private basement, substantial storage, an eat-in kitchen, and its own deck. Separate utilities support individual unit operation, while recent improvements include fresh paint, new flooring throughout, and a fully remodeled second-floor kitchen. The building was constructed in 1986 and features vinyl-clad aluminum construction, forced-air heat, public water, and a shed.
Set on a corner lot, the property provides off-street parking and is located near Washington Avenue, local food options, amenities, and several corporations. Both apartments are occupied under leases extending through August 2026.
Set on a corner lot, the property provides off-street parking and is located near Washington Avenue, local food options, amenities, and several corporations. Both apartments are occupied under leases extending through August 2026.
Key Highlights
- Duplex with two 3‑bedroom, 1‑bath apartments
- 2,184 SF building constructed in 1986
- Private basement and deck provided for each apartment
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
$19,515
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
6.53%
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%
$390,300
$390.3K
Cap Rate 7%
$278,786
$278.8K
Cap Rate 9%
$216,833
$216.8K
Market Conditions
NOI Build-Up for 2,184 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
$30.1K $13.80/SF
− Vacancy
−$2.3K −$1.04/SF
EGI
$27.9K $12.77/SF
− OpEx
−$8.4K −$3.83/SF
NOI
$19.5K $8.94/SF
Area
Broome County, NY
Vacancy
7.50%
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%
$390,300
Cap Rate 7%
$278,786
Cap Rate 9%
$216,833
Alternative Uses
Best Use
Multifamily LT 5
$278.8K
$243.9K – $325.3K
NOI $19,515 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$259.9K
$227.4K – $303.3K
NOI $18,195 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$541.8K
$474.1K – $632.1K
NOI $37,928 @ 7.0% cap · market cap 12.68%
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
Location Intelligence
Trade Area within ½ mile
785
Businesses Nearby
Explore this area
Business Placement
Demographics for 13760, NY
44,153
Population
20,988
Households
2.1
Avg Household Size
44
Median Age
34%
College-Educated
93%
High-School Grad
49.3 sq mi
ZIP Area
896
Density / Sq Mi
$63,242
Median Household Income
$41,939
Median Earnings
$883
Median Rent
$150,700
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?
Duplex - Fully occupied residential property with separate utilities, off-street parking, and outdoor deck space for each apartment.
Where is this duplex located?
The property is located at 1701 Watson Boulevard Endicott, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Duplex with two 3‑bedroom, 1‑bath apartments; 2,184 SF building constructed in 1986; Private basement and deck provided for each apartment
