Two-Unit Duplex with
New
For Sale
$235,000
206 N Pleasant Street, Watertown, NY 13601
Residential, Watertown, NY
Property Size2,448 SF
Lot Size0.21 Acres
Price / SF$95
Days on Market2
Property Features for 206 N Pleasant Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bedroom 4, Bedroom 6, Bedroom 3, Bedroom 5, Bathroom 1, Basement, Bathroom 2
Patio and Porch features
Porch
Appliances
ElectricWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Watertown
Middle school district
Watertown
High school district
Watertown
Directions
Take State St. to N. Pleasant St. Take a left. Home will be on the Right side.
Subdivision
Watertown-City-221800
Standard status
Active
APN
221800-006-000-0014-102-000-0000
Size
2,448 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Annual Amount
3615
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Amenities
shared backyard
Building Details
Year built
1890
Floors in Building
2
Number of units
2
Flooring type
Carpet, Vinyl, Varies
Building materials
VinylSiding, PexPlumbing
Roof type
Shingle
Listing Agency:
Bridgeview Real Estate
(315) 782-9292
Listed By:
Jennifer L Flynn · License #10491211015
(315) 286-4465
Added: Sep 23
Last Checked: Sep 24 at 8:06PM
MLS# S1717198
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 duplex contains two matching residences within a 2,448-square-foot property. Each side includes three bedrooms, one full bathroom, a living room, an eat-in kitchen, and a first-floor bonus room. Separate basements and walk-up attic areas provide additional storage, while designated parking serves each unit. One residence has updated carpeting, and the property was renovated down to the studs in 2015.
The 0.2126-acre parcel includes a shared backyard and a porch. Public water serves the property, with natural-gas forced-air heat, vinyl siding, PEX plumbing, and a shingle roof. Located in Watertown, the property is near parks, shopping, dining, and everyday amenities, with Fort Drum a short drive away.
The 0.2126-acre parcel includes a shared backyard and a porch. Public water serves the property, with natural-gas forced-air heat, vinyl siding, PEX plumbing, and a shingle roof. Located in Watertown, the property is near parks, shopping, dining, and everyday amenities, with Fort Drum a short drive away.
Key Highlights
- Two‑unit duplex with identical three‑bedroom, one‑bath layouts
- 2,448‑square‑foot property on a 0.2126‑acre parcel
- Renovated down to the studs 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
Lease Details
2
Residential units
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 - Two matching residences offer private parking, basement storage, and flexible first-floor bonus rooms.
Where is this duplex located?
The property is located at 206 N Pleasant Street 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‑unit duplex with identical three‑bedroom, one‑bath layouts; 2,448‑square‑foot property on a 0.2126‑acre parcel; Renovated down to the studs in 2015
