Quadplex with Four Remodeled
For Sale
$195,000
700 State Street, Ogdensburg, NY 13669
MULTI_FAMILY - Ogdensburg, NY
Property Size2,560 SF
Price / SF$76.17
Days on Market80
Property Features for 700 State Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 3, Bathroom 4, Bedroom 4, Bedroom 1
Exterior features
Outdoor lights
Lot features
A corner lot
Directions
State Street Ogdensburg
Subdivision
ST LAWRENCE
Standard status
Active
APN
48.079-12-1
Size
2,560 SF
Taxes and HOA fees
Tax Annual Amount
5415
Utilities
Utilities
Cable Available
Water source
Public
Amenities
basement storage
Building Details
Year built
1874
Floors in Building
2
Number of units
4
Flooring type
Laminate, Vinyl, Carpet, Tile - Ceramic
Building materials
Brick accent, Vinyl siding
Roof type
Metal
Architectural style
Other
Listing Agency:
River Run Realty, LLC
(315) 323-2241
Listed By:
Deborah Polniak · License #40PO1137191
(315) 276-9144
Added: May 20
Changed: Aug 3
Last Checked: Aug 7 at 8:06AM
MLS# 52766
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 quadplex features four remodeled apartment units. Each unit is described as spacious and includes washer, dryer, and appliances. Updates include updated windows and an exterior with vinyl siding and brick accent details. Flooring across the units includes laminate, vinyl, carpet, and ceramic tile. The building has a full, dry basement with ample storage areas for each apartment and an exterior entrance.
The property was built in 1874 and has a metal roof that is only three years old. The water heater and boiler were new in February of 2015. Tenants pay their own electric, and there is a fifth meter for hallway and exterior lights that the landlord manages on a timer. Tenants have been in place between 4 and 8 years and are on a month-to-month basis. Off-street parking is available, and the exterior includes outdoor lights. Public water is provided, and cable is available.
The property was built in 1874 and has a metal roof that is only three years old. The water heater and boiler were new in February of 2015. Tenants pay their own electric, and there is a fifth meter for hallway and exterior lights that the landlord manages on a timer. Tenants have been in place between 4 and 8 years and are on a month-to-month basis. Off-street parking is available, and the exterior includes outdoor lights. Public water is provided, and cable is available.
Key Highlights
- Four remodeled units with washer, dryer, and appliances included
- Metal roof only three years old
- Water heater and boiler replaced in February 2015
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
$13,081
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
6.71%
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%
$261,620
$261.6K
Cap Rate 7%
$186,871
$186.9K
Cap Rate 9%
$145,344
$145.3K
Market Conditions
NOI Build-Up for 2,560 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
$23.7K $9.24/SF
− Vacancy
−$5.0K −$1.94/SF
EGI
$18.7K $7.30/SF
− OpEx
−$5.6K −$2.19/SF
NOI
$13.1K $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%
$261,620
Cap Rate 7%
$186,871
Cap Rate 9%
$145,344
Alternative Uses
Best Use
Multifamily LT 5
$186.9K
$163.5K – $218.0K
NOI $13,081 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$171.1K
$149.7K – $199.6K
NOI $11,977 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$635.1K
$555.7K – $741.0K
NOI $44,458 @ 7.0% cap · market cap 22.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
467
Businesses Nearby
Explore this area
Business Placement
Demographics for 13669, NY
14,990
Population
7,419
Households
2
Avg Household Size
43
Median Age
21%
College-Educated
85%
High-School Grad
101.5 sq mi
ZIP Area
148
Density / Sq Mi
$66,488
Median Household Income
$36,546
Median Earnings
$769
Median Rent
$101,800
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?
Quadplex - Four remodeled apartment units with in-unit washer/dryer, updated windows, and a metal roof about three years old.
Where is this quadplex located?
The property is located at 700 State Street Ogdensburg, NY.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Four remodeled units with washer, dryer, and appliances included; Metal roof only three years old; Water heater and boiler replaced in February 2015
