Furnished Duplex with
New
For Sale
$269,000
22 Weed Street, Plattsburgh, NY 12901
Residential Income, Plattsburgh, NY
Property Size1,524 SF
Price / SF$176.51
Days on Market2
Property Features for 22 Weed Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway
Window features
Double Pane Windows
Interior features
High Speed Internet
Exterior features
Lighting
Basement
Crawl Space
Appliances
Electric Oven, Refrigerator, Washer/Dryer
Lot features
City Lot
Elementary school district
Plattsburgh
Middle school district
Plattsburgh
High school district
Plattsburgh
Directions
Miller Street to Weed Street, right hand side, see sign
Subdivision
City of Plattsburgh
Standard status
Active
APN
207.11-2-12
Size
1,524 SF
Taxes and HOA fees
Tax Annual Amount
5315
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Water source
Public
Building Details
Year built
1876
Floors in Building
2
Number of units
2
Building materials
Brick, Vinyl Siding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Real Broker NY, LLC
(855) 450-0442
Listed By:
Amanda Lawrence
(518) 420-6235
Added: Sep 14
Last Checked: Sep 15 at 3:06PM
MLS# 208393
Copyright © 2026 Adirondack Champlain Valley MLS. 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 1,524-square-foot duplex, built in 1876, contains two apartments with separate water meters. The lower unit is configured with 3 bedrooms and 1.5 bathrooms, while the upper unit offers 3 bedrooms and 1 bathroom. Both apartments include new appliances, separate washers and dryers, electric baseboard heat, PEX plumbing, and furnishings arranged for two-bedroom occupancy. The property has a crawlspace basement, brick and vinyl siding, an asphalt roof replaced in 2022, public water, and public sewer.
Located in the City of Plattsburgh, the property provides off-street driveway parking for four cars in a double-parked arrangement. The driveway is shared with the neighboring home. Both apartments are leased to traveling professionals through December, and the building is being sold furnished.
Located in the City of Plattsburgh, the property provides off-street driveway parking for four cars in a double-parked arrangement. The driveway is shared with the neighboring home. Both apartments are leased to traveling professionals through December, and the building is being sold furnished.
Key Highlights
- Two‑apartment duplex totaling 1,524 square feet
- Lower unit: 3 bedrooms and 1.5 bathrooms
- Upper unit: 3 bedrooms and 1 bathroom
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
$13,012
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
4.84%
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%
$260,240
$260.2K
Cap Rate 7%
$185,886
$185.9K
Cap Rate 9%
$144,578
$144.6K
Market Conditions
NOI Build-Up for 1,524 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
$20.1K $13.20/SF
− Vacancy
−$1.5K −$1.00/SF
EGI
$18.6K $12.20/SF
− OpEx
−$5.6K −$3.66/SF
NOI
$13.0K $8.54/SF
Area
Clinton County, NY
Vacancy
7.60%
Lease Rate
$13.20 /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%
$260,240
Cap Rate 7%
$185,886
Cap Rate 9%
$144,578
Alternative Uses
Best Use
Multifamily LT 5
$185.9K
$162.7K – $216.9K
NOI $13,012 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$165.2K
$144.6K – $192.8K
NOI $11,567 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$420.1K
$367.6K – $490.1K
NOI $29,407 @ 7.0% cap · market cap 10.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
Explore this area
Business Placement
Demographics for 12901, NY
32,147
Population
15,426
Households
2.1
Avg Household Size
38
Median Age
33%
College-Educated
89%
High-School Grad
70.6 sq mi
ZIP Area
455
Density / Sq Mi
$59,413
Median Household Income
$35,385
Median Earnings
$957
Median Rent
$182,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered apartments include new appliances, separate laundry, and furnished interiors.
Where is this duplex located?
The property is located at 22 Weed Street Plattsburgh, NY.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: Two‑apartment duplex totaling 1,524 square feet; Lower unit: 3 bedrooms and 1.5 bathrooms; Upper unit: 3 bedrooms and 1 bathroom
