Two-Unit Duplex with
For Sale
$230,000
Pending
1108 Washington St, Watertown, NY 13601
Separate laundry areas, a covered porch, and a detached garage support practical two-unit living.
Property Size1,733 SF
Days on Market53
Property Features for 1108 Washington St
General Information
Standard status
Pending
Size
1,733 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,177
Building Details
Building Size
1,733 SF
Year Built
1895
Stories
2
Units
2
Listing Agency:
Bridgeview Real Estate Services
Listed By:
Jessica Olney · License #10401375778
(315) 782-9292
Source:
Elliman
Added: Sep 14
Changed: Nov 3
Last Checked: Nov 4 at 12:09PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bridgeview Real Estate Services
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Investment Insights
Based on property information with market context.
Built in 1895, this duplex at 1108 Washington Street contains two distinct residential units. The first-floor residence includes two bedrooms, one full bathroom, a kitchen, dining room, and living room. The upper unit provides one bedroom, one bathroom, and an open-concept arrangement. Both units have dedicated laundry areas.
Exterior features include a blacktop driveway, detached garage, and covered porch. A newer furnace and newer water heater add to the property’s existing improvements. The home is in Watertown, near shopping, dining, and other city amenities, with a Walk Score of 21 and Bike Score of 27. Continued multifamily use or conversion to a single-family residence may be considered, subject to applicable approvals.
Exterior features include a blacktop driveway, detached garage, and covered porch. A newer furnace and newer water heater add to the property’s existing improvements. The home is in Watertown, near shopping, dining, and other city amenities, with a Walk Score of 21 and Bike Score of 27. Continued multifamily use or conversion to a single-family residence may be considered, subject to applicable approvals.
Key Highlights
- Two‑unit duplex with a 2‑bedroom lower residence and 1‑bedroom upper unit
- Each unit includes a dedicated laundry area
- Detached garage, blacktop driveway, and covered porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,269
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$285,380
$285.4K
Cap Rate 7%
$203,843
$203.8K
Cap Rate 9%
$158,544
$158.5K
Market Conditions
NOI Build-Up for 1,733 SF
Gross rent
$21.8K $12.60/SF
− Vacancy
−$1.5K −$0.84/SF
EGI
$20.4K $11.76/SF
− OpEx
−$6.1K −$3.53/SF
NOI
$14.3K $8.23/SF
Area
Jefferson County, NY
Vacancy
6.65%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$285,380
Cap Rate 7%
$203,843
Cap Rate 9%
$158,544
Alternative Uses
Best Use
Multifamily LT 5
$203.8K
$178.4K – $237.8K
NOI $14,269 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$182.4K
$159.6K – $212.8K
NOI $12,765 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$477.7K
$418.0K – $557.3K
NOI $33,440 @ 7.0% cap · market cap 14.54%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate laundry areas, a covered porch, and a detached garage support practical two-unit living.
Where is this duplex located?
The property is located at 1108 Washington St 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: Two‑unit duplex with a 2‑bedroom lower residence and 1‑bedroom upper unit; Each unit includes a dedicated laundry area; Detached garage, blacktop driveway, and covered porch
