Updated Two-Unit Duplex with
New
For Sale
$169,000
29 31 Oak Street, Waddington, NY 13694
MULTIFAMILY, 2 Story, Two family, Waddington, NY
Property Size1,680 SF
Price / SF$100.60
Days on Market5
Property Features for 29 31 Oak Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
220
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Dining Room, Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 5
Parking
4
Parking features
Garage
Patio and Porch features
Porch, Deck
Exterior features
Deck, Porch
Directions
From Massena, take NY-37 West toward Waddington. Continue on NY-37 into the Village of Waddington. Turn right onto Oak St. The house will be on your right.
Subdivision
ST LAWRENCE
Standard status
Active
APN
21.024-2-16.1
Size
1,680 SF
Taxes and HOA fees
Tax Annual Amount
2629
Utilities
Water source
Public
Amenities
covered front porch
back deck
firepit
detached garage
workshop
garden
in-unit laundry
Building Details
Year built
1860
Floors in Building
2
Number of units
2
Flooring type
Wood floors, Tile, Laminate, Vinyl
Building materials
Vinyl siding, Wood siding
Roof type
Metal
Architectural style
Other
Listing Agency:
King Realty NNY
(315) 355-7455
Listed By:
Taylor Harper · License #10371201989
(315) 212-6700
Added: Sep 4
Changed: Sep 7
Last Checked: Sep 8 at 1:06PM
MLS# 53335
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-unit duplex contains 1,680 square feet within a 1860-built property. The larger apartment includes 3 bedrooms and 1 full bathroom, while the second apartment provides 2 bedrooms and 1 full bathroom. Both units have been updated with new flooring and appliances, and each apartment includes its own laundry. One unit is currently rented, creating an established income component for the property.
Outdoor features include a newly constructed rear deck, covered front porch, backyard firepit, and wildflower garden. A detached one-car garage with workshop space adds storage and utility. The property also includes vinyl and wood siding, a metal roof, public water, and a mix of vinyl, tile, laminate, and wood flooring. Located at 29, 31 Oak Street in Waddington, the duplex is identified under zoning 220.
Outdoor features include a newly constructed rear deck, covered front porch, backyard firepit, and wildflower garden. A detached one-car garage with workshop space adds storage and utility. The property also includes vinyl and wood siding, a metal roof, public water, and a mix of vinyl, tile, laminate, and wood flooring. Located at 29, 31 Oak Street in Waddington, the duplex is identified under zoning 220.
Key Highlights
- Two‑unit duplex with 1,680 square feet and 2 separate apartments
- Larger unit offers 3 bedrooms and 1 full bathroom
- Second unit includes 2 bedrooms and 1 full bathroom and is currently rented
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
$8,584
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
5.08%
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%
$171,680
$171.7K
Cap Rate 7%
$122,629
$122.6K
Cap Rate 9%
$95,378
$95.4K
Market Conditions
NOI Build-Up for 1,680 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
$15.5K $9.24/SF
− Vacancy
−$3.3K −$1.94/SF
EGI
$12.3K $7.30/SF
− OpEx
−$3.7K −$2.19/SF
NOI
$8.6K $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%
$171,680
Cap Rate 7%
$122,629
Cap Rate 9%
$95,378
Alternative Uses
Best Use
Multifamily LT 5
$122.6K
$107.3K – $143.1K
NOI $8,584 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$112.3K
$98.3K – $131.0K
NOI $7,860 @ 7.0% cap · market cap 4.65%
Theoretical Best
Office A
$416.8K
$364.7K – $486.3K
NOI $29,176 @ 7.0% cap · market cap 17.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
Explore this area
Business Placement
Demographics for 13694, NY
1,316
Population
607
Households
2.2
Avg Household Size
50
Median Age
29%
College-Educated
90%
High-School Grad
18.1 sq mi
ZIP Area
73
Density / Sq Mi
$77,308
Median Household Income
$49,556
Median Earnings
$718
Median Rent
$207,500
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 offer independent laundry, refreshed interiors, and outdoor spaces on an oversized lot in Waddington.
Where is this duplex located?
The property is located at 29 31 Oak Street Waddington, NY.
What is the asking price?
The asking price for this property is $169,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,680 square feet and 2 separate apartments; Larger unit offers 3 bedrooms and 1 full bathroom; Second unit includes 2 bedrooms and 1 full bathroom and is currently rented
