Updated Duplex with Detached
New
For Sale
$194,500
213-215 Voorhees St, Fulton, NY 13069
Two residential units offer separate living areas, enclosed porches, basement storage, and flexible occupancy options.
Property Size1,992 SF
Days on Market3
Property Features for 213-215 Voorhees St
General Information
Standard status
Active
Size
1,992 SF
Property subtype
Multi Family
Occupancy
100%
Units
Unit Mix
1 x 2BR/1BA, 1 x 2BR/1.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,894
Amenities
laundry hookups
enclosed porch
detached garage
Building Details
Building Size
1,992 SF
Year Built
1895
Buildings
1
Stories
2
Units
2
Listing Agency:
Derek Greene
Listed By:
Derek Greene · License #0225265075
(888) 278-5840
Source:
Elliman
Added: Sep 4
Last Checked: Sep 6 at 1:01PM
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 Derek Greene
Investment Insights
Based on property information with market context.
This Fulton duplex, built in 1895, contains two residential units: one with 2 bedrooms and 1 bath, and another with 2 bedrooms and 1.5 baths. The larger unit has recently received new flooring and fresh paint. Both apartments include living, dining, and kitchen areas along with enclosed front porches. Concrete basements provide laundry hookups and storage, while a new roof and new hot water tanks are among the completed improvements.
The property also includes a 24' x 28' detached garage and a 6-car concrete driveway, providing substantial off-street parking and additional storage. Both units are occupied by long-term tenants under month-to-month leases, allowing the next owner to maintain the current arrangement or use the property for owner occupancy with a separate rented unit.
The property also includes a 24' x 28' detached garage and a 6-car concrete driveway, providing substantial off-street parking and additional storage. Both units are occupied by long-term tenants under month-to-month leases, allowing the next owner to maintain the current arrangement or use the property for owner occupancy with a separate rented unit.
Key Highlights
- Two‑unit duplex at 213‑215 Voorhees St, Fulton, NY 13069
- Unit mix includes a 2‑bedroom, 1‑bath apartment and a 2‑bedroom, 1.5‑bath apartment
- 24' x 28' detached garage and 6‑car concrete driveway
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
$16,427
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
8.45%
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%
$328,540
$328.5K
Cap Rate 7%
$234,671
$234.7K
Cap Rate 9%
$182,522
$182.5K
Market Conditions
NOI Build-Up for 1,992 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
$25.1K $12.60/SF
− Vacancy
−$1.6K −$0.82/SF
EGI
$23.5K $11.78/SF
− OpEx
−$7.0K −$3.53/SF
NOI
$16.4K $8.25/SF
Area
Oswego County, NY
Vacancy
6.50%
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%
$328,540
Cap Rate 7%
$234,671
Cap Rate 9%
$182,522
Alternative Uses
Best Use
Multifamily LT 5
$234.7K
$205.3K – $273.8K
NOI $16,427 @ 7.0% cap · market cap 8.45%
Second Best
Apartment 5plus
$218.3K
$191.0K – $254.7K
NOI $15,282 @ 7.0% cap · market cap 7.86%
Theoretical Best
Office A
$397.3K
$347.7K – $463.6K
NOI $27,813 @ 7.0% cap · market cap 14.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
588
Businesses Nearby
Explore this area
Business Placement
Demographics for 13069, NY
24,071
Population
10,593
Households
2.3
Avg Household Size
40
Median Age
19%
College-Educated
89%
High-School Grad
109.9 sq mi
ZIP Area
219
Density / Sq Mi
$63,156
Median Household Income
$44,073
Median Earnings
$878
Median Rent
$112,600
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 residential units offer separate living areas, enclosed porches, basement storage, and flexible occupancy options.
Where is this duplex located?
The property is located at 213-215 Voorhees St Fulton, NY.
What is the asking price?
The asking price for this property is $194,500.
What are key features of this property?
This property features: Two‑unit duplex at 213‑215 Voorhees St, Fulton, NY 13069; Unit mix includes a 2‑bedroom, 1‑bath apartment and a 2‑bedroom, 1.5‑bath apartment; 24' x 28' detached garage and 6‑car concrete driveway
