Four-Unit Apartment
For Sale
$260,000
Pending
5072 S Catherine Street, Plattsburgh, NY 12901
Residential Income, Plattsburgh, NY
Property Size2,280 SF
Days on Market93
Property Features for 5072 S Catherine Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Lot features
City Lot
Elementary school district
Plattsburgh
Middle school district
Plattsburgh
High school district
Plattsburgh
Directions
South on So Catherine, building on left. Utilize GPS
Subdivision
City of Plattsburgh
Standard status
Pending
APN
221.7-2-28
Size
2,280 SF
Taxes and HOA fees
Tax Annual Amount
5117
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1950
Listing Agency:
Hemingway Realty The Adirondack Group
(518) 557-3080
Listed By:
Garrett Hemingway
(518) 637-5360
Added: Jun 19
Changed: Aug 19
Last Checked: Sep 19 at 1:06AM
MLS# 207629
Copyright © 2026 Adirondack Champlain Valley MLS. 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 four-unit multifamily property contains 2,280 square feet and was built in 1950. The building is occupied by long-term tenants and is served by public water and public sewer.
Located in Plattsburgh, the property is near downtown, shops, and restaurants. Its four-unit configuration provides a straightforward residential income format within the city.
Located in Plattsburgh, the property is near downtown, shops, and restaurants. Its four-unit configuration provides a straightforward residential income format within the city.
Key Highlights
- Four‑unit multifamily property
- 2,280 square feet of building area
- Built in 1950
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
$19,466
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
7.49%
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%
$389,320
$389.3K
Cap Rate 7%
$278,086
$278.1K
Cap Rate 9%
$216,289
$216.3K
Market Conditions
NOI Build-Up for 2,280 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 $13.20/SF
− Vacancy
−$2.3K −$1.00/SF
EGI
$27.8K $12.20/SF
− OpEx
−$8.3K −$3.66/SF
NOI
$19.5K $8.54/SF
Area
Clinton County, NY
Vacancy
7.60%
Lease Rate
$13.20 /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%
$389,320
Cap Rate 7%
$278,086
Cap Rate 9%
$216,289
Alternative Uses
Best Use
Multifamily LT 5
$278.1K
$243.3K – $324.4K
NOI $19,466 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$247.2K
$216.3K – $288.4K
NOI $17,305 @ 7.0% cap · market cap 6.66%
Theoretical Best
Office A
$628.5K
$549.9K – $733.3K
NOI $43,995 @ 7.0% cap · market cap 16.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,178
Businesses Nearby
Explore this area
Business Placement
Demographics for 12901, NY
32,147
Population
15,426
Households
2.1
Avg Household Size
38
Median Age
33%
College-Educated
89%
High-School Grad
70.6 sq mi
ZIP Area
455
Density / Sq Mi
$59,413
Median Household Income
$35,385
Median Earnings
$957
Median Rent
$182,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - City multifamily property with established tenancy and public water and sewer service.
Where is this quadplex located?
The property is located at 5072 S Catherine Street Plattsburgh, NY.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Four‑unit multifamily property; 2,280 square feet of building area; Built in 1950
