Two-Unit Duplex with Separate
For Sale
$155,000
1021 Boyd Street, Watertown, NY 13601
Residential, Watertown, NY
Property Size1,882 SF
Lot Size0.11 Acres
Price / SF$82.36
Days on Market353
Property Features for 1021 Boyd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 4
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
Varies, Vinyl, Hardwood
Building materials
AluminumSiding, CopperPlumbing, PexPlumbing
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
Bridgeview Real Estate
Listed By:
Jessica Olney · License #10401375778
(315) 782-9292
Added: Oct 14, 2025
Changed: Sep 16
Last Checked: Oct 1 at 6:06PM
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.
This 1,882-square-foot duplex contains an upper apartment and a lower apartment, with each unit arranged with 2 bedrooms, 1 full bathroom, and spacious living areas. Separate utilities serve the two residences, while hardwood and vinyl flooring are present throughout the property. The home was built in 1910 and sits on a 0.1056-acre lot with a fenced exterior and public water service.
Recent property updates include hot water heaters installed in 2020, composite porches and steps, an updated electrical panel, and a sealed driveway. The energy-efficient furnaces and asphalt shingle roof are each approximately 9 years old. Natural gas forced-air heating, gas water heating, aluminum siding, and a combination of copper and PEX plumbing are also in place.
Located at 1021 Boyd Street in Watertown, NY 13601, the property has an established rental history and has been consistently maintained.
Recent property updates include hot water heaters installed in 2020, composite porches and steps, an updated electrical panel, and a sealed driveway. The energy-efficient furnaces and asphalt shingle roof are each approximately 9 years old. Natural gas forced-air heating, gas water heating, aluminum siding, and a combination of copper and PEX plumbing are also in place.
Located at 1021 Boyd Street in Watertown, NY 13601, the property has an established rental history and has been consistently maintained.
Key Highlights
- 1,882‑square‑foot upper/lower duplex
- Each unit includes 2 bedrooms and 1 full bathroom
- Separate utilities for the two residences
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
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Open Analytics
Current Use
Lease Details
2
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Upper and lower units feature separate utilities and distinct living areas.
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: 1,882‑square‑foot upper/lower duplex; Each unit includes 2 bedrooms and 1 full bathroom; Separate utilities for the two residences
