Watertown Duplex with Garage
537 Cross Street, Watertown, NY 13601
MULTI_FAMILY - Watertown, NY
Property size:
1,382 SFLot size:
0.20 AcresPrice / SF:
$130/SF- Added:
- Apr 29, 2026
- Days on Market:
- 30
- Last Refresh:
- May 28 at 2:06 am
Property Features for 537 Cross Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 1, Basement
- Appliances
- ElectricWaterHeater, GasWaterHeater
- Standard status
- Active
- APN
- 221800-009-000-0002-124-000-0000
- Size
- 1,382 SF
- Lot size
- 0.20 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2385
Utilities
- Heating system
- Baseboard, Forced Air, Natural Gas, Electric (Heating)
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Carpet, Vinyl, Varies
- Building materials
- VinylSiding
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# S1677199
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 rental income: $775/month (1‑bedroom) and $1,000/month (2‑bedroom).
- Exceptional garage space for tenant use.
- Large backyard for a city lot.
- Spacious 2‑bedroom unit with a two‑story layout.
- Well‑maintained property with long‑term tenants.
- Opportunity to purchase a triplex across the street at 522 Cross St as a package.
Overview
Located in the City of Watertown, this well-maintained duplex at 537 Cross St offers strong rental income. The property features a 1-bedroom apartment rented for $775 per month and a 2-bedroom unit generating $1,000 per month. The larger unit has a two-story layout, providing ample living space. Tenants are long term and maintain the property well. A standout feature is the exceptional garage space available for tenant use. The backyard is unusually large for a city lot, offering plenty of usable outdoor space. The property size is 1382 square feet, situated on a lot of 0.2028 acres. This duplex presents an excellent opportunity for investors looking to expand their portfolio with a quality asset. The seller also has a triplex across the street at 522 Cross that is also for sale, the 2 properties could be sold as a package together!
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$126.4K
NOI $11,379 @ 9.00% cap · cautious / downside scenario
Moderate
$162.6K
NOI $11,379 @ 7.00% cap · market / base-case scenario
Aggressive
$227.6K
NOI $11,379 @ 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 | $17.4k | $12.60 |
| − Vacancy | −$1.2k | −$0.84 |
| EGI | $16.3k | $11.76 |
| − OpEx | −$4.9k | −$3.53 |
| NOI | $11.4k | $8.23 |
1,382 SF · lease $12.60/SF/yr · vacancy 6.65% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$162.6K
$142.2K – $189.7K
NOI $11,379 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$145.4K
$127.2K – $169.7K
NOI $10,179 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$381.0K
$333.3K – $444.5K
NOI $26,667 @ 7.0% cap · market cap 14.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Watertown
- County
- Jefferson
- State
- New York
- Longitude
- -75.923951
- Latitude
- 43.97414
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Well-maintained duplex with strong rental income and desirable features.
Where is this duplex located?
The property is located at 537 Cross Street Watertown, NY.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: Strong rental income: $775/month (1‑bedroom) and $1,000/month (2‑bedroom).; Exceptional garage space for tenant use.; Large backyard for a city lot.
