Two-Unit Duplex with
New
For Sale
$235,000
206 N Pleasant St, Watertown, NY 13601
Both residences include a first-floor bonus room, basement, and walk-up attic for additional flexible space.
Property Size2,448 SF
Price / SF$95
Days on Market2
Property Features for 206 N Pleasant St
General Information
Standard status
Active
Size
2,448 SF
Property subtype
Multi-Family
Building Details
Year Built
1890
Listing Agency:
Bridgeview Real Estate
Listed By:
Jennifer L Flynn · License #10491211015
(315) 782-9292
Source:
Skinnercnyrealty
Added: Sep 26
Last Checked: Sep 26 at 3:01PM
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 two-unit duplex has matching layouts, with three bedrooms, one full bathroom, a living room, and an eat-in kitchen in each residence. Each side also has a first-floor bonus room, its own basement, and walk-up attic space. One unit has new carpeting, and each residence has designated parking. The property was built in 1890 and completely renovated in 2015; the shared yard provides outdoor space for both units.
At 206 N Pleasant St in Watertown, the duplex is near parks, shopping, dining, and everyday amenities. Fort Drum is a short drive away. Water and sewer are included in rent.
At 206 N Pleasant St in Watertown, the duplex is near parks, shopping, dining, and everyday amenities. Fort Drum is a short drive away. Water and sewer are included in rent.
Key Highlights
- Two matching units, each with 3 bedrooms and 1 full bath
- Both sides have a first‑floor bonus room, basement, and walk‑up attic
- Built in 1890; completely renovated in 2015
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
$20,156
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%
$403,120
$403.1K
Cap Rate 7%
$287,943
$287.9K
Cap Rate 9%
$223,956
$224.0K
Market Conditions
NOI Build-Up for 2,448 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
$30.8K $12.60/SF
− Vacancy
−$2.1K −$0.84/SF
EGI
$28.8K $11.76/SF
− OpEx
−$8.6K −$3.53/SF
NOI
$20.2K $8.23/SF
Area
Jefferson County, NY
Vacancy
6.65%
Lease Rate
$12.60 /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%
$403,120
Cap Rate 7%
$287,943
Cap Rate 9%
$223,956
Alternative Uses
Best Use
Multifamily LT 5
$287.9K
$252.0K – $335.9K
NOI $20,156 @ 7.0% cap · market cap 8.58%
Second Best
Apartment 5plus
$257.6K
$225.4K – $300.5K
NOI $18,031 @ 7.0% cap · market cap 7.67%
Theoretical Best
Office A
$674.8K
$590.5K – $787.3K
NOI $47,237 @ 7.0% cap · market cap 20.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
311
Businesses Nearby
Explore this area
Business Placement
Demographics for 13601, NY
37,287
Population
18,653
Households
2
Avg Household Size
37
Median Age
25%
College-Educated
90%
High-School Grad
140.8 sq mi
ZIP Area
265
Density / Sq Mi
$57,503
Median Household Income
$37,061
Median Earnings
$974
Median Rent
$170,100
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 - Both residences include a first-floor bonus room, basement, and walk-up attic for additional flexible space.
Where is this duplex located?
The property is located at 206 N Pleasant St Watertown, NY.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Two matching units, each with 3 bedrooms and 1 full bath; Both sides have a first‑floor bonus room, basement, and walk‑up attic; Built in 1890; completely renovated in 2015
