Duplex with New Metal
For Sale
Under Contract
$169,900
214/218 Charles Street, Watertown, NY 13601
Residential, Watertown, NY
Property Size1,694 SF
Lot Size0.18 Acres
Price / SF$100.30
Days on Market182
Property Features for 214/218 Charles Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 2, Basement, Bathroom 1, Bedroom 1
Parking features
Garage
Window features
Wood Frames
Patio and Porch features
Porch
Exterior features
PrivateYard
Appliances
GasWaterHeater
Subdivision
United States Department/
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Watertown
Middle school district
Watertown
High school district
Watertown
Directions
From Public Square drive North on Mill St. Turn right onto Charles St. House will be a couple blocks up on Right hand side.
Standard status
Active Under Contract
APN
221800-003-000-0006-313-000-0000
Size
1,694 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
2766
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1919
Floors in Building
1
Number of units
2
Flooring type
Carpet, Vinyl, Varies, Hardwood
Building materials
VinylSiding
Roof type
Metal
Architectural style
Other
Listing Agency:
Bridgeview Real Estate
Listed By:
Chenoa Reynolds · License #10401341542
(315) 782-9292
Added: Mar 10
Changed: Sep 7
Last Checked: Sep 7 at 5:06PM
MLS# S1665306
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 1,694-square-foot duplex contains two mirror-image side-by-side residences, each arranged with living, dining, and kitchen areas on the first floor and two bedrooms plus one bathroom upstairs. Both units include front and rear entrances, a front porch, dedicated yard space, a private dry basement with washer and dryer hookups, attic crawl-space access, and separate utilities with 150-amp service. Hardwood, carpet, and vinyl flooring are found throughout the property, which has vinyl siding, natural-gas forced-air heat, public water, and updated electrical, plumbing, and windows in portions of the home.
The property occupies 0.1837 acres at 214/218 Charles Street in Watertown, NY. A double-wide shared driveway provides access, with additional dedicated off-street parking at the side and rear. The site also includes a two-car garage. One residence is refreshed and nearing occupancy, while work has begun in the other, including new sheetrock and a tub surround. A new metal roof has been installed on the home, and the garage also has a new roof.
The property occupies 0.1837 acres at 214/218 Charles Street in Watertown, NY. A double-wide shared driveway provides access, with additional dedicated off-street parking at the side and rear. The site also includes a two-car garage. One residence is refreshed and nearing occupancy, while work has begun in the other, including new sheetrock and a tub surround. A new metal roof has been installed on the home, and the garage also has a new roof.
Key Highlights
- Two‑unit duplex with 1,694 square feet on 0.1837 acres
- Each unit offers 2 bedrooms, 1 bathroom, separate utilities, and 150‑amp service
- New metal roof on the home; garage also has a new roof
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
$13,947
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
8.21%
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%
$278,940
$278.9K
Cap Rate 7%
$199,243
$199.2K
Cap Rate 9%
$154,967
$155.0K
Market Conditions
NOI Build-Up for 1,694 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
$21.3K $12.60/SF
− Vacancy
−$1.4K −$0.84/SF
EGI
$19.9K $11.76/SF
− OpEx
−$6.0K −$3.53/SF
NOI
$13.9K $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%
$278,940
Cap Rate 7%
$199,243
Cap Rate 9%
$154,967
Alternative Uses
Best Use
Multifamily LT 5
$199.2K
$174.3K – $232.5K
NOI $13,947 @ 7.0% cap · market cap 8.21%
Second Best
Apartment 5plus
$178.2K
$156.0K – $208.0K
NOI $12,477 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$467.0K
$408.6K – $544.8K
NOI $32,687 @ 7.0% cap · market cap 19.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
696
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
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 - Side-by-side units offer separate utilities, private basements, individual entrances, porch areas, and dedicated outdoor space.
Where is this duplex located?
The property is located at 214/218 Charles Street Watertown, NY.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,694 square feet on 0.1837 acres; Each unit offers 2 bedrooms, 1 bathroom, separate utilities, and 150‑amp service; New metal roof on the home; garage also has a new roof
