Spacious Residential Property, Carthage,
For Sale
$230,000
474 S James St, Carthage, NY 13619
8-bedroom property with rental income potential in Carthage, NY.
Property Size2,375 SF
Days on Market159
Property Features for 474 S James St
General Information
Standard status
Active
Size
2,375 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$2,961
Building Details
Building Size
2,375 SF
Year Built
1850
Units
8
Listing Agency:
Bridgeview Real Estate
Listed By:
Kirk Gilchrist · License #10401317321
(315) 782-9292
Source:
Elliman
Added: Apr 1
Changed: Sep 2
Last Checked: Sep 5 at 12:04PM
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
Investment Insights
Based on property information with market context.
This property features 8 bedrooms and 3 bathrooms, along with a common kitchen and several common areas. It is currently utilized as a rental property, with some rooms being offered as short-term rentals. The property provides ample parking. The current rental income is $5325 per month. The property is located in Carthage, NY. The bike score is 40, indicating it is somewhat bikeable, and the walk score is 14, indicating car dependence.
Key Highlights
- High rental income: $5325 per month
- 8 bedrooms and 3 bathrooms offer ample space
- Proven rental history with near 100% occupancy
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
$17,493
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
7.61%
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%
$349,860
$349.9K
Cap Rate 7%
$249,900
$249.9K
Cap Rate 9%
$194,367
$194.4K
Market Conditions
NOI Build-Up for 2,375 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
$34.2K $14.40/SF
− Vacancy
−$2.4K −$1.01/SF
EGI
$31.8K $13.39/SF
− OpEx
−$14.3K −$6.03/SF
NOI
$17.5K $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%
$349,860
Cap Rate 7%
$249,900
Cap Rate 9%
$194,367
Alternative Uses
Best Use
Apartment 5plus
$249.9K
$218.7K – $291.6K
NOI $17,493 @ 7.0% cap · market cap 7.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$654.7K
$572.9K – $763.8K
NOI $45,828 @ 7.0% cap · market cap 19.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
128
Businesses Nearby
Explore this area
Business Placement
Demographics for 13619, NY
10,600
Population
4,649
Households
2.3
Avg Household Size
38
Median Age
19%
College-Educated
87%
High-School Grad
112.7 sq mi
ZIP Area
94
Density / Sq Mi
$63,549
Median Household Income
$44,792
Median Earnings
$984
Median Rent
$171,700
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?
Residential income property - 8-bedroom property with rental income potential in Carthage, NY.
Where is this residential income property located?
The property is located at 474 S James St Carthage, 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: High rental income: $5325 per month; 8 bedrooms and 3 bathrooms offer ample space; Proven rental history with near 100% occupancy
