Two-Unit Duplex with Detached
New
For Sale
$230,000
1108 Washington Street, Watertown, NY 13601
Residential, Watertown, NY
Property Size1,733 SF
Lot Size0.32 Acres
Price / SF$132.72
Days on Market3
Property Features for 1108 Washington Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential Multi Use
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 3, Bathroom 2, Basement
Patio and Porch features
Porch
Appliances
ElectricWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Watertown
Middle school district
Watertown
High school district
Watertown
Subdivision
Watertown-City-221800
Standard status
Active
APN
221800-014-000-0012-108-000-0000
Size
1,733 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Annual Amount
3177
Utilities
Heating system
Natural Gas, Forced Air, Baseboard
Water source
Public
Amenities
dedicated laundry
covered porch
detached garage
Building Details
Year built
1895
Floors in Building
2
Number of units
2
Flooring type
Laminate, Tile, Carpet, Varies
Building materials
VinylSiding
Architectural style
Other
Listing Agency:
Bridgeview Real Estate
Listed By:
Jessica Olney · License #10401375778
(315) 782-9292
Added: Sep 12
Last Checked: Sep 14 at 1:06PM
MLS# S1714254
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 1,733-square-foot duplex includes two distinct residential units. The lower apartment has two bedrooms, a full bathroom, kitchen, formal dining room, and living room. The upper apartment provides one bedroom, one bathroom, and an open-concept interior. Separate laundry areas serve each unit.
The property sits on 0.3239 acres and includes a blacktop driveway, detached garage, covered porch, vinyl siding, and public water service. Heating features include natural gas, forced air, and baseboard systems. A newer furnace and newer water heater add to the existing improvements. The property may continue as a two-unit residence or be considered for conversion to a single-family home, subject to applicable approvals. Shopping, dining, and other city amenities are located nearby.
The property sits on 0.3239 acres and includes a blacktop driveway, detached garage, covered porch, vinyl siding, and public water service. Heating features include natural gas, forced air, and baseboard systems. A newer furnace and newer water heater add to the existing improvements. The property may continue as a two-unit residence or be considered for conversion to a single-family home, subject to applicable approvals. Shopping, dining, and other city amenities are located nearby.
Key Highlights
- Two‑unit duplex with 1,733 square feet of property space
- Lower unit includes 2 bedrooms, 1 full bathroom, kitchen, dining room, and living room
- Upper unit offers 1 bedroom, 1 bathroom, and an open‑concept layout
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
$14,269
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
6.20%
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%
$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
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
$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 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%
$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.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
490
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Flexible duplex layout with separate laundry areas, a covered porch, and convenient access to shopping, dining, and city amenities.
Where is this duplex located?
The property is located at 1108 Washington Street 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 1,733 square feet of property space; Lower unit includes 2 bedrooms, 1 full bathroom, kitchen, dining room, and living room; Upper unit offers 1 bedroom, 1 bathroom, and an open‑concept layout
