Duplex With Covered
For Sale
$99,000
137 Lincoln Avenue, Waddington, NY 13694
MULTIFAMILY, Old Style, Waddington, NY
Property Size1,780 SF
Lot Size0.31 Acres
Price / SF$55.62
Days on Market47
Property Features for 137 Lincoln Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
r1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 1
Parking
3
Patio and Porch features
Deck, Porch
Interior features
Ceiling fan(s)
Exterior features
Covered porch, Deck, Underground storage tank
Directions
Heading into Waddington from the 37 towards Massena, go through the flashing light and home will be on the left hand side across from Kunoco/IGA. Look for our sign.
Subdivision
ST LAWRENCE
Standard status
Active
APN
21.032-4-12.1
Size
1,780 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Annual Amount
2704
Utilities
Water source
Public
Amenities
covered porch
deck
yard
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Carpet, Laminate, Vinyl
Building materials
Vinyl siding
Roof type
Metal
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Fiacco Realty, LLC
(315) 854-7529
Listed By:
Jill Michno · License #10401344457
(315) 528-7803
Added: Aug 16
Changed: Sep 23
Last Checked: Oct 1 at 6:06PM
MLS# 53241
Copyright © 2026 St. Lawrence Board of Realtors. 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 1,780-square-foot duplex, built in 1900, contains two apartments with a total of four bedrooms and two full bathrooms. The front unit includes a foyer, living room, eat-in kitchen, first-floor bedroom, and two additional upstairs bedrooms with hallway storage; the upper level requires finishing. The rear apartment includes a combined living, dining, and kitchen area, one bedroom, a full bathroom, and a small deck. The property also features a covered porch, vinyl siding, mixed laminate, vinyl, and carpet flooring, newer windows, and a metal roof approximately 4 years old.
Set on a 100x135-foot lot, the property offers a gravel driveway, additional parking, and a yard. Tenants pay their own electric, gas, trash, and plowing while maintaining the lot. A 2009-2010 rehabilitation added electrical work, porches, and the back wall in apartment 2. The property uses public water and is within the Madrid Waddington School District, with village amenities within walking distance.
Set on a 100x135-foot lot, the property offers a gravel driveway, additional parking, and a yard. Tenants pay their own electric, gas, trash, and plowing while maintaining the lot. A 2009-2010 rehabilitation added electrical work, porches, and the back wall in apartment 2. The property uses public water and is within the Madrid Waddington School District, with village amenities within walking distance.
Key Highlights
- 1,780‑square‑foot duplex with two apartments and four bedrooms
- Front apartment includes three bedrooms; upstairs area needs finishing
- Rear apartment has a separate deck and gas monitor heater
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
$9,095
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
9.19%
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%
$181,900
$181.9K
Cap Rate 7%
$129,929
$129.9K
Cap Rate 9%
$101,056
$101.1K
Market Conditions
NOI Build-Up for 1,780 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
$16.4K $9.24/SF
− Vacancy
−$3.5K −$1.94/SF
EGI
$13.0K $7.30/SF
− OpEx
−$3.9K −$2.19/SF
NOI
$9.1K $5.11/SF
Area
St. Lawrence County, NY
Vacancy
21.00%
Lease Rate
$9.24 /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%
$181,900
Cap Rate 7%
$129,929
Cap Rate 9%
$101,056
Alternative Uses
Best Use
Multifamily LT 5
$129.9K
$113.7K – $151.6K
NOI $9,095 @ 7.0% cap · market cap 9.19%
Second Best
Apartment 5plus
$119.0K
$104.1K – $138.8K
NOI $8,328 @ 7.0% cap · market cap 8.41%
Theoretical Best
Office A
$441.6K
$386.4K – $515.2K
NOI $30,912 @ 7.0% cap · market cap 31.22%
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
102
Businesses Nearby
Explore this area
Business Placement
Demographics for 13694, NY
1,316
Population
607
Households
2.2
Avg Household Size
50
Median Age
29%
College-Educated
90%
High-School Grad
18.1 sq mi
ZIP Area
73
Density / Sq Mi
$77,308
Median Household Income
$49,556
Median Earnings
$718
Median Rent
$207,500
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 - Two-unit residential property with separate living spaces, outdoor areas, public water, and a metal roof.
Where is this duplex located?
The property is located at 137 Lincoln Avenue Waddington, NY.
What is the asking price?
The asking price for this property is $99,000.
What are key features of this property?
This property features: 1,780‑square‑foot duplex with two apartments and four bedrooms; Front apartment includes three bedrooms; upstairs area needs finishing; Rear apartment has a separate deck and gas monitor heater
