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    18 N Main St Newport, NY 13406

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    For Sale
    $229,000

    MULTI_FAMILY - Newport, NY

    Property size:
    3,717 SF
    Price / SF:
    $61/SF
    Added:
    May 5, 2026
    Days on Market:
    4
    Last Refresh:
    May 8 at 4:06 am

    Property Features for 18 N Main St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Rooms
    Bedroom 1, Bedroom 3, Basement, Bedroom 5, Bedroom 4, Bedroom 6, Bedroom 2
    Parking features
    Garage
    Exterior features
    BlacktopDriveway
    Appliances
    ElectricOven, ElectricRange, ElectricWaterHeater, Refrigerator
    Standard status
    Active
    APN
    100.51-1-41
    Size
    3,717 SF

    Taxes and HOA fees

    Tax Annual Amount
    3799

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Hot Water(Heating), Propane (Heating)
    Water source
    Public

    Building Details

    Year built
    1880
    Floors in Building
    2
    Number of units
    6
    Flooring type
    Vinyl, Varies, Carpet
    Building materials
    VinylSiding
    Roof type
    Rolled Hot Mop, Metal

    We can help!

    Listing Contact
    Delbert Ball
    Delbert Ball

    Listing agent Delbert Ball License #10401246417

    Listing office Keller-Williams Mohawk Valley 5701 Enterprise Pkwy, East Syracuse, NY

    Listing date May 5, 2026

    MLS# S1679367 Listing URL

    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.

    HighLights

    • Fully occupied 6‑unit apartment building providing immediate rental income.
    • Recent updates include a new propane boiler (2025), six electric meters, six hot water heaters, and vinyl replacement windows and doors.
    • Large yard and green space with off‑street parking, a rare find for multi‑family properties.
    • Mix of two‑bedroom and one‑bedroom units.
    • Durable steel and asphalt roof.
    • Convenient location close to a playground, park, Herkimer, and Utica.

    Overview

    Fully Occupied 6-Unit Building

    This fully occupied 6-unit apartment building features 3,717 square feet with a mix of two two-bedroom units and four one-bedroom units. The building has been updated over time, including a new propane boiler in 2025, six separate electric meters, six hot water heaters, and vinyl replacement windows and doors throughout. The roof is a mix of steel and asphalt. The property includes a large yard and green space, along with off-street parking. It is located close to a playground and park, minutes from Herkimer, and about 25 minutes from Utica. The property has commercial zoning and features village water and a septic tank. The property is intended for investment and offers a strong opportunity for investors looking to expand their portfolio with a property that already has momentum.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Grocery & Convenience Store Bar & Pub Grocery & Convenience Store Nursing Home

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    Herkimer
    State
    New York
    Longitude
    -74.969483
    Latitude
    43.139959

    FAQs

    What type of property is this?
    Apartment building - Well-maintained 6-unit apartment building with steady rental income.
    Where is this apartment building located?
    The property is located at 18 N Main St Newport, NY.
    What is the asking price?
    The asking price for this property is $229,000.
    What are key features of this property?
    This property features: Fully occupied 6‑unit apartment building providing immediate rental income.; Recent updates include a new propane boiler (2025), six electric meters, six hot water heaters, and vinyl replacement windows and doors.; Large yard and green space with off‑street parking, a rare find for multi‑family properties.
    (315) 868-3933
    We can help!
    Listing Contact
    Delbert Ball
    Delbert Ball
    Real Estate License ID: 10401246417
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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