Two-Unit Duplex with Separate
For Sale
$155,000
1021 Boyd Street, Watertown, NY 13601
MULTI_FAMILY - Other - Watertown, NY
Property Size1,882 SF
Lot Size0.11 Acres
Price / SF$82.36
Days on Market307
Property Features for 1021 Boyd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 1, Bedroom 4, Basement
Exterior features
Fence
Fencing
Fenced
Appliances
GasWaterHeater
Subdivision
Binghams Lands
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Watertown
Middle school district
Watertown
High school district
Watertown
Standard status
Active
APN
221800-012-000-0010-108-000-0000
Size
1,882 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
2363
Utilities
Heating system
Forced Air, Electric (Heating), Natural Gas
Water source
Public
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Varies, Vinyl
Building materials
AluminumSiding, CopperPlumbing, PexPlumbing
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
Bridgeview Real Estate
(315) 782-9292
Listed By:
Jessica Olney · License #10401375778
(315) 782-9292
Added: Oct 14, 2025
Changed: Aug 4
Last Checked: Aug 16 at 2:06PM
MLS# S1644801
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.
Investment Insights
Based on property information with market context.
Well-maintained upper/lower two-unit duplex with two bedrooms and one full bath in each unit. Each unit features spacious living areas and separate utilities, supporting straightforward, independent operations. The home has a fenced exterior area and uses public water.
Recent improvements include new hot water heaters installed in 2020, energy-efficient furnaces that are approximately 9 years old, an approximately 9-year-old roof, and composite porches and steps. Updates also include an updated electrical panel and a sealed driveway.
Built in 1910, the duplex is offered as a 1,882 SF property on a 0.1056-acre lot. Heating is provided via forced air with natural gas and electric heating components, and the exterior construction includes aluminum siding with copper and PEX plumbing. Flooring includes vinyl, hardwood, and other varying surfaces.
Recent improvements include new hot water heaters installed in 2020, energy-efficient furnaces that are approximately 9 years old, an approximately 9-year-old roof, and composite porches and steps. Updates also include an updated electrical panel and a sealed driveway.
Built in 1910, the duplex is offered as a 1,882 SF property on a 0.1056-acre lot. Heating is provided via forced air with natural gas and electric heating components, and the exterior construction includes aluminum siding with copper and PEX plumbing. Flooring includes vinyl, hardwood, and other varying surfaces.
Key Highlights
- Two‑bedroom, one‑bath upper/lower duplex with separate utilities
- New hot water heaters installed in 2020
- Energy‑efficient furnaces approximately 9 years old
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
$13,862
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
8.94%
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%
$277,240
$277.2K
Cap Rate 7%
$198,029
$198.0K
Cap Rate 9%
$154,022
$154.0K
Market Conditions
NOI Build-Up for 1,882 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
$27.1K $14.40/SF
− Vacancy
−$1.9K −$1.01/SF
EGI
$25.2K $13.39/SF
− OpEx
−$11.3K −$6.03/SF
NOI
$13.9K $7.37/SF
Area
Jefferson County, NY
Vacancy
7.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
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%
$277,240
Cap Rate 7%
$198,029
Cap Rate 9%
$154,022
Alternative Uses
Best Use
Multifamily LT 5
$221.4K
$193.7K – $258.3K
NOI $15,495 @ 7.0% cap · market cap 10.00%
Second Best
Apartment 5plus
$198.0K
$173.3K – $231.0K
NOI $13,862 @ 7.0% cap · market cap 8.94%
Theoretical Best
Office A
$518.8K
$453.9K – $605.3K
NOI $36,315 @ 7.0% cap · market cap 23.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
325
Businesses Nearby
Explore this area
Business Placement
Demographics for 13601, NY
37,287
Population
18,653
Households
2
Avg Household Size
37
Median Age
25%
College-Educated
90%
High-School Grad
140.8 sq mi
ZIP Area
265
Density / Sq Mi
$57,503
Median Household Income
$37,061
Median Earnings
$974
Median Rent
$170,100
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?
Duplex - Well-maintained two-unit duplex with two bedrooms per unit, separate utilities, and recent mechanical and exterior improvements.
Where is this duplex located?
The property is located at 1021 Boyd Street Watertown, NY.
What is the asking price?
The asking price for this property is $155,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bath upper/lower duplex with separate utilities; New hot water heaters installed in 2020; Energy‑efficient furnaces approximately 9 years old
