Duplex with Shared
New
For Sale
$199,900
24 Delaware Street, Rouses Point, NY 12979
Residential Income, Rouses Point, NY
Property Size2,063 SF
Price / SF$96.90
Days on Market4
Property Features for 24 Delaware Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Patio and Porch features
Porch
Fireplace
1
Basement
Crawl Space
Elementary school district
Northeastern Clinton
Middle school district
Northeastern Clinton
High school district
Northeastern Clinton
Directions
head north on route 9,.take a right onto route 9b. entering rouses point, continue on to lake st. take a left on to chapman st, and then a left on Delaware. see sign
Subdivision
Champlain, Rouses Point, Mooers
Standard status
Active
APN
20.10-7-9
Size
2,063 SF
Taxes and HOA fees
Tax Annual Amount
3620
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Amenities
hardwood floors
open-concept layout
fireplace
off-street parking
shared backyard
Building Details
Year built
1900
Flooring type
Hardwood, Tile
Roof type
Shingle
Architectural style
Other
Listing Agency:
Kavanaugh Realty-Plattsburgh
(518) 562-4679
Listed By:
Michael Rowe · License #10401310470
(518) 593-9450
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 23 at 3:06AM
MLS# 208200
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 2,063-square-foot duplex, built in 1900, contains two 2-bedroom, 1-bath apartments. The lower residence includes hardwood floors, an open-concept arrangement, and a fireplace, while the property also offers tile flooring, baseboard and electric heating, a porch, off-street parking, and a shared backyard. Public sewer service and a shingle roof support the existing residential configuration.
The property is located at 24 Delaware Street in Rouses Point, within reach of Lake Champlain, the Canadian border, local shops, restaurants, and marinas. Its two-apartment layout provides an established residential income format with potential for an owner-occupied arrangement, as supported by the existing configuration.
The property is located at 24 Delaware Street in Rouses Point, within reach of Lake Champlain, the Canadian border, local shops, restaurants, and marinas. Its two-apartment layout provides an established residential income format with potential for an owner-occupied arrangement, as supported by the existing configuration.
Key Highlights
- 2,063‑square‑foot duplex with two 2‑bedroom, 1‑bath apartments
- Lower apartment includes hardwood floors, an open‑concept layout, and a fireplace
- Off‑street parking and shared backyard
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
$17,613
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
8.81%
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%
$352,260
$352.3K
Cap Rate 7%
$251,614
$251.6K
Cap Rate 9%
$195,700
$195.7K
Market Conditions
NOI Build-Up for 2,063 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
$27.2K $13.20/SF
− Vacancy
−$2.1K −$1.00/SF
EGI
$25.2K $12.20/SF
− OpEx
−$7.5K −$3.66/SF
NOI
$17.6K $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%
$352,260
Cap Rate 7%
$251,614
Cap Rate 9%
$195,700
Alternative Uses
Best Use
Multifamily LT 5
$251.6K
$220.2K – $293.6K
NOI $17,613 @ 7.0% cap · market cap 8.81%
Second Best
Apartment 5plus
$223.7K
$195.7K – $261.0K
NOI $15,658 @ 7.0% cap · market cap 7.83%
Theoretical Best
Office A
$568.7K
$497.6K – $663.5K
NOI $39,808 @ 7.0% cap · market cap 19.91%
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
162
Businesses Nearby
Explore this area
Business Placement
Demographics for 12979, NY
2,321
Population
1,344
Households
1.7
Avg Household Size
48
Median Age
20%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
553
Density / Sq Mi
$47,135
Median Household Income
$40,824
Median Earnings
$731
Median Rent
$180,500
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 well-maintained apartments include hardwood flooring, a fireplace, and off-street parking in a lakeside community.
Where is this duplex located?
The property is located at 24 Delaware Street Rouses Point, NY.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 2,063‑square‑foot duplex with two 2‑bedroom, 1‑bath apartments; Lower apartment includes hardwood floors, an open‑concept layout, and a fireplace; Off‑street parking and shared backyard
