Two-Unit
For Sale
$120,000
Pending
27 27 1/2 W Main St, Norfolk, NY 13667
MULTIFAMILY, 2 Story, Norfolk, NY
Property Size1,250 SF
Days on Market47
Property Features for 27 27 1/2 W Main St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
220
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 1, Bathroom 1
Parking
4
Parking features
Driveway
Patio and Porch features
Porch
Exterior features
Covered porch
Directions
Traveling south on 56 from Massena to Potsdam, once in Norfolk, turn right onto W Main St. The property will be on the left and have a for sale sign.
Subdivision
ST LAWRENCE
Standard status
Pending
APN
32.058-3-17
Size
1,250 SF
Taxes and HOA fees
Tax Annual Amount
1818
Utilities
Water source
Public
Amenities
in-unit laundry
covered front porch
Building Details
Year built
1880
Floors in Building
2
Number of units
2
Flooring type
Carpet, Laminate, Vinyl
Building materials
Vinyl siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
King Realty NNY
(315) 355-7455
Listed By:
Taylor Harper · License #10371201989
(315) 212-6700
Added: Jul 24
Changed: Sep 7
Last Checked: Sep 8 at 2:06PM
MLS# 53121
Copyright © 2026 St. Lawrence Board of Realtors. 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 two-story duplex at 27 W Main St includes 1,250 square feet arranged as two apartments. Each unit has 2 bedrooms, 1 full bathroom, and in-unit laundry. The first-floor residence includes a covered front porch and is currently owner-occupied, while the second-floor apartment has a long-term tenant. Appliances are included, and select furnishings remain with the first-floor unit.
Constructed in 1880, the property features vinyl siding, a shingle roof, public water, driveway parking, and a mix of carpet, laminate, and vinyl flooring. Located in the Village of Norfolk, the duplex is near local shops, restaurants, schools, and area amenities. The property is identified with zoning 220 and offers a two-unit configuration suitable for continued income use or an owner-occupied arrangement.
Constructed in 1880, the property features vinyl siding, a shingle roof, public water, driveway parking, and a mix of carpet, laminate, and vinyl flooring. Located in the Village of Norfolk, the duplex is near local shops, restaurants, schools, and area amenities. The property is identified with zoning 220 and offers a two-unit configuration suitable for continued income use or an owner-occupied arrangement.
Key Highlights
- Two‑unit duplex with 1,250 square feet
- Each apartment includes 2 bedrooms, 1 full bathroom, and in‑unit laundry
- First‑floor unit is owner‑occupied; second‑floor unit has a long‑term tenant
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
$6,387
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
5.32%
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%
$127,740
$127.7K
Cap Rate 7%
$91,243
$91.2K
Cap Rate 9%
$70,967
$71.0K
Market Conditions
NOI Build-Up for 1,250 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
$11.6K $9.24/SF
− Vacancy
−$2.4K −$1.94/SF
EGI
$9.1K $7.30/SF
− OpEx
−$2.7K −$2.19/SF
NOI
$6.4K $5.11/SF
Area
St. Lawrence County, NY
Vacancy
21.00%
Lease Rate
$9.24 /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%
$127,740
Cap Rate 7%
$91,243
Cap Rate 9%
$70,967
Alternative Uses
Best Use
Multifamily LT 5
$91.2K
$79.8K – $106.5K
NOI $6,387 @ 7.0% cap · market cap 5.32%
Second Best
Apartment 5plus
$83.5K
$73.1K – $97.5K
NOI $5,848 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$310.1K
$271.4K – $361.8K
NOI $21,708 @ 7.0% cap · market cap 18.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Explore this area
Business Placement
Demographics for 13667, NY
3,217
Population
1,597
Households
2
Avg Household Size
44
Median Age
12%
College-Educated
83%
High-School Grad
47.0 sq mi
ZIP Area
68
Density / Sq Mi
$57,114
Median Household Income
$41,341
Median Earnings
$790
Median Rent
$111,400
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 - Two apartments combine in-unit laundry, included appliances, and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 27 27 1/2 W Main St Norfolk, NY.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,250 square feet; Each apartment includes 2 bedrooms, 1 full bathroom, and in‑unit laundry; First‑floor unit is owner‑occupied; second‑floor unit has a long‑term tenant
