Duplex with Separate
New
For Sale
$255,000
142 N Mechanic Street, Carthage, NY 13619
Residential, Carthage, NY
Property Size2,972 SF
Lot Size0.30 Acres
Price / SF$85.80
Days on Market5
Property Features for 142 N Mechanic Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 6, Basement, Bedroom 2, Bedroom 3, Bedroom 5, Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 1
Parking features
Paved or Surfaced
Patio and Porch features
Deck, Porch
Exterior features
Deck
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot
Elementary school district
Carthage
Middle school district
Carthage
High school district
Carthage
Directions
From State St turn onto N Mechanic St. property is located on your right.
Subdivision
Carthage-Village-226001
Standard status
Active
APN
226001-086-041-0001-054-200
Size
2,972 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Annual Amount
3630
Utilities
Heating system
Forced Air, Natural Gas, Baseboard
Water source
Public
Amenities
large yard
off-street parking
Building Details
Year built
1889
Floors in Building
2
Number of units
1
Flooring type
Vinyl, Hardwood, Varies
Building materials
WoodSiding
Listing Agency:
TLC Real Estate LLC - Carthage
(315) 493-1111
Listed By:
LuAnn Twombly · License #10401286142
(315) 783-6455
Added: Aug 16
Changed: Aug 19
Last Checked: Aug 20 at 5:06AM
MLS# S1707382
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 2,972-square-foot duplex in Carthage contains two independent residential units. The larger residence offers 4-5 bedrooms, a formal dining room, a spacious living room, built-in closet storage, and an open staircase. Its outdoor features include a porch and rear deck. The second unit has been renovated and includes one bedroom, one full bathroom, and an eat-in kitchen. Both units have natural gas heat, with separate gas and electric meters supporting distinct utility service.
The property occupies 0.2996 acres at 142 N Mechanic Street in the Village of Carthage. Paved off-street parking serves both residences, while public water is available. Wood siding, hardwood and vinyl flooring, and a 1889 construction date further define the property.
The property occupies 0.2996 acres at 142 N Mechanic Street in the Village of Carthage. Paved off-street parking serves both residences, while public water is available. Wood siding, hardwood and vinyl flooring, and a 1889 construction date further define the property.
Key Highlights
- 2,972‑square‑foot duplex on 0.2996 acres
- Larger unit includes 4‑5 bedrooms, formal dining room, living room, and built‑in storage
- Renovated second unit with 1 bedroom, 1 full bath, and 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-unit residential property with a renovated one-bedroom apartment, separate utilities, outdoor space, and off-street parking.
Where is this duplex located?
The property is located at 142 N Mechanic Street 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: 2,972‑square‑foot duplex on 0.2996 acres; Larger unit includes 4‑5 bedrooms, formal dining room, living room, and built‑in storage; Renovated second unit with 1 bedroom, 1 full bath, and eat‑in kitchen
