4-Unit Apartment
For Sale
$268,000
38 E Main Street, Canton, NY 13617
MULTIFAMILY, 2 Story, Canton, NY
Property Size3,032 SF
Price / SF$88.39
Days on Market66
Property Features for 38 E Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bathroom 1, Bedroom 4, Bathroom 4, Bedroom 3, Bedroom 1, Bathroom 3, Bedroom 6, Bedroom 2, Bathroom 2
Parking
4
Patio and Porch features
Porch
Exterior features
Covered porch, Outdoor lights, Storage/out-building(s)
Directions
From center of village East Main St. toward Potsdam - house on right - look for sign.
Subdivision
ST LAWRENCE
Standard status
Active
APN
88.043-5-3
Size
3,032 SF
Taxes and HOA fees
Tax Annual Amount
7490
Utilities
Utilities
Cable Available
Water source
Public
Building Details
Year built
1960
Floors in Building
2
Number of units
4
Flooring type
Vinyl, Carpet, Hardwood
Building materials
Wood siding
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Grasse River Real Estate, LLC
(315) 386-4521
Listed By:
Gail C Abplanalp · License #30AB0995647
(315) 854-4293
Added: Jul 4
Changed: Sep 4
Last Checked: Sep 7 at 12:06PM
MLS# 53031
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 3,032-square-foot quadplex, constructed in 1960, contains four apartments arranged as two efficiency units and two two-bedroom units. Interior finishes include vinyl, hardwood, and carpet flooring, while the exterior has wood siding, a covered porch, outdoor lighting, and a storage or outbuilding area.
The property is located at 38 E Main Street in Canton, New York, with public water service and cable availability. Off-street parking supports the four-unit layout, and the building’s proximity to the village, schools, and local amenities provides a defined residential setting.
The property is located at 38 E Main Street in Canton, New York, with public water service and cable availability. Off-street parking supports the four-unit layout, and the building’s proximity to the village, schools, and local amenities provides a defined residential setting.
Key Highlights
- Four‑unit building with two efficiency apartments and two two‑bedroom apartments
- 3,032 square feet of building area
- Built in 1960 with wood siding
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
$15,493
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
5.78%
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%
$309,860
$309.9K
Cap Rate 7%
$221,329
$221.3K
Cap Rate 9%
$172,144
$172.1K
Market Conditions
NOI Build-Up for 3,032 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
$28.0K $9.24/SF
− Vacancy
−$5.9K −$1.94/SF
EGI
$22.1K $7.30/SF
− OpEx
−$6.6K −$2.19/SF
NOI
$15.5K $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%
$309,860
Cap Rate 7%
$221,329
Cap Rate 9%
$172,144
Alternative Uses
Best Use
Multifamily LT 5
$221.3K
$193.7K – $258.2K
NOI $15,493 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$202.7K
$177.3K – $236.4K
NOI $14,186 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$752.2K
$658.2K – $877.6K
NOI $52,655 @ 7.0% cap · market cap 19.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
Explore this area
Business Placement
Demographics for 13617, NY
12,083
Population
4,645
Households
2.6
Avg Household Size
29
Median Age
36%
College-Educated
93%
High-School Grad
132.5 sq mi
ZIP Area
91
Density / Sq Mi
$72,652
Median Household Income
$26,397
Median Earnings
$901
Median Rent
$148,900
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?
Quadplex - A varied residential configuration includes efficiency units and two-bedroom apartments with off-street parking.
Where is this quadplex located?
The property is located at 38 E Main Street Canton, NY.
What is the asking price?
The asking price for this property is $268,000.
What are key features of this property?
This property features: Four‑unit building with two efficiency apartments and two two‑bedroom apartments; 3,032 square feet of building area; Built in 1960 with wood siding
