Updated Triplex in Watertown
522 Cross Street, Watertown, NY 13601
MULTI_FAMILY - Other - Watertown, NY
Property size:
1,958 SFLot size:
0.25 AcresPrice / SF:
$117/SF- Added:
- Apr 29, 2026
- Days on Market:
- 23
- Last Refresh:
- May 21 at 5:06 pm
Property Features for 522 Cross Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bathroom 3, Bathroom 1, Bedroom 3, Bedroom 5, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 1
- Patio and Porch features
- Porch, Deck, Patio
- Exterior features
- Deck, Patio
- Appliances
- ElectricWaterHeater
- Standard status
- Active
- APN
- 221800-009-000-0001-209-000-0000
- Size
- 1,958 SF
- Lot size
- 0.25 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2646
Utilities
- Heating system
- Forced Air, Electric (Heating), Baseboard, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 2
- Number of units
- 3
- Flooring type
- Carpet, Vinyl, Varies
- Building materials
- VinylSiding
- Architectural style
- Other
Listing agent Noah Taylor License #10401359495 (315) 778-6473
Listing office Keller Williams Northern New York 114 Court Street, East Syracuse, NY (315) 459-6619
Listing date Apr 29, 2026
MLS# S1676276
Listing URL
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Strong income‑generating triplex with two rented units ($875 and $900/month) and one vacant unit for immediate occupancy or rental income.
- Recent improvements including a new roof and updated bathrooms with luxury vinyl plank flooring.
- Ample off‑street parking with a large lot, a rare and valuable amenity in Watertown.
- Exceptionally large backyard for a city lot, providing significant outdoor space.
- Well‑maintained property with quality tenants and functional layouts appealing to renters.
- Freshly painted exterior porches (April 2026) enhancing curb appeal.
Overview
This well-maintained triplex is located in Watertown. It features three units, offering an investment opportunity with immediate income and additional upside. Two units are currently rented: a 2-bedroom downstairs apartment generating $875 per month and a 2-bedroom upper unit bringing in $900 per month. The third unit, a 1-bedroom apartment on the first floor, is currently vacant. Recent improvements include a newly installed roof on the main structure and updates throughout. Bathrooms have been refreshed with new luxury vinyl plank flooring, and the units offer open, functional layouts. The back right unit has been updated with new luxury vinyl flooring and fresh paint, and features a small dining area just off of the kitchen. Exterior porches were freshly painted in April of 2026. The property includes ample off-street parking with a large lot on the left side and additional parking on the right. The backyard is large for a city lot. The property is situated on a lot of approximately 0.25 acres. The building size is approximately 1958 square feet.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$179.1K
NOI $16,121 @ 9.00% cap · cautious / downside scenario
Moderate
$230.3K
NOI $16,121 @ 7.00% cap · market / base-case scenario
Aggressive
$322.4K
NOI $16,121 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.7k | $12.60 |
| − Vacancy | −$1.6k | −$0.84 |
| EGI | $23.0k | $11.76 |
| − OpEx | −$6.9k | −$3.53 |
| NOI | $16.1k | $8.23 |
1,958 SF · lease $12.60/SF/yr · vacancy 6.65% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$230.3K
$201.5K – $268.7K
NOI $16,121 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$206.0K
$180.3K – $240.4K
NOI $14,422 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$539.7K
$472.3K – $629.7K
NOI $37,782 @ 7.0% cap · market cap 16.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Watertown
- County
- Jefferson
- State
- New York
- Longitude
- -75.923229
- Latitude
- 43.974522
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Well-maintained 3-unit triplex with income potential in Watertown.
Where is this triplex located?
The property is located at 522 Cross Street Watertown, NY.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Strong income‑generating triplex with two rented units ($875 and $900/month) and one vacant unit for immediate occupancy or rental income.; Recent improvements including a new roof and updated bathrooms with luxury vinyl plank flooring.; Ample off‑street parking with a large lot, a rare and valuable amenity in Watertown.
