Two-Unit Duplex with Off-Street
New
For Sale
$255,000
142 N Mechanic St, Carthage, NY 13619
Two separate living units feature distinct kitchens, natural gas heat, and separate gas and electric meters.
Property Size2,972 SF
Days on Market3
Property Features for 142 N Mechanic St
General Information
Standard status
Active
Size
2,972 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 4-5BR, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$3,630
Amenities
formal dining room
open staircase
eat-in kitchen
back deck
large yard
natural gas heat
separate gas & electric meters
Building Details
Building Size
2,972 SF
Year Built
1889
Buildings
1
Stories
2
Units
1
Listing Agency:
TLC Real Estate LLC
(315) 783-6455
Listed By:
LuAnn Twombly · License #109908782
Source:
Elliman
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 19 at 9:43AM
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 TLC Real Estate LLC
Investment Insights
Based on property information with market context.
Built in 1889, this two-unit duplex includes a larger residence with 4–5 bedrooms, a formal dining room, generous living space, built-in closet storage, and an open staircase. That unit also includes natural gas heat and access to a rear deck. The second residence has been renovated and contains 1 bedroom, 1 full bath, an eat-in kitchen, and natural gas heat.
The property is located at 142 N Mechanic St in the Village of Carthage, NY. A sizable yard and off-street parking serve both units, while separate gas and electric meters provide distinct utility service. The address has a walk score of 63 and a bike score of 60.
The property is located at 142 N Mechanic St in the Village of Carthage, NY. A sizable yard and off-street parking serve both units, while separate gas and electric meters provide distinct utility service. The address has a walk score of 63 and a bike score of 60.
Key Highlights
- Two‑unit duplex with separate living spaces
- Larger unit offers 4–5 bedrooms, formal dining room, living room, and built‑in storage
- Renovated second unit includes 1 bedroom, 1 full bath, and an eat‑in kitchen
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
$21,891
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
8.58%
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%
$437,820
$437.8K
Cap Rate 7%
$312,729
$312.7K
Cap Rate 9%
$243,233
$243.2K
Market Conditions
NOI Build-Up for 2,972 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
$42.8K $14.40/SF
− Vacancy
−$3.0K −$1.01/SF
EGI
$39.8K $13.39/SF
− OpEx
−$17.9K −$6.03/SF
NOI
$21.9K $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%
$437,820
Cap Rate 7%
$312,729
Cap Rate 9%
$243,233
Alternative Uses
Best Use
Multifamily LT 5
$349.6K
$305.9K – $407.8K
NOI $24,470 @ 7.0% cap · market cap 9.60%
Second Best
Apartment 5plus
$312.7K
$273.6K – $364.9K
NOI $21,891 @ 7.0% cap · market cap 8.58%
Theoretical Best
Office A
$819.3K
$716.9K – $955.8K
NOI $57,348 @ 7.0% cap · market cap 22.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
334
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?
Duplex - Two separate living units feature distinct kitchens, natural gas heat, and separate gas and electric meters.
Where is this duplex located?
The property is located at 142 N Mechanic St Carthage, NY.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Two‑unit duplex with separate living spaces; Larger unit offers 4–5 bedrooms, formal dining room, living room, and built‑in storage; Renovated second unit includes 1 bedroom, 1 full bath, and an eat‑in kitchen
