Building Details

Year Built 1976

Year Renovated 2017

Buildings 1

Tenancy Multi

Listing Agency: Motivated Realty m***@gmail.com

Listed By: Jeremy Briggs · License #10371201707 Show Phone

Source: Prestigefamilyrealty

Added: Sep 17 Changed: Nov 1 Last Checked: Nov 1 at 2:58PM

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Investment Insights

Based on property information with market context.

This duplex in Rutland contains two residences: one with three bedrooms and the other with two. The 2,033-square-foot property was built in 1976 and received a comprehensive renovation in 2017. Improvements included the roof, separate furnaces, plumbing, electrical systems, select windows, flooring, and carpeting. Both units are occupied, with leases ending in November.

The property occupies a 1.33-acre lot at 24307 Boot Jack Hill Road in the Town of Rutland. It is within the Carthage Central School District, minutes from Fort Drum, and close to the Black River Trail.

Key Highlights

• Two‑unit duplex with three‑bedroom and two‑bedroom residences
• 2,033 square feet on a 1.33‑acre lot
• Renovated in 2017, including roof, plumbing, electrical, and flooring updates

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,739

Cap Rate

8.86%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$334,780 $334.8K

Cap Rate 7%

$239,129 $239.1K

Cap Rate 9%

$185,989 $186.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,033 SF

Gross rent

$25.6K $12.60/SF

− Vacancy

−$1.7K −$0.84/SF

EGI

$23.9K $11.76/SF

− OpEx

−$7.2K −$3.53/SF

NOI

$16.7K $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 Rate 5%

$334,780

Cap Rate 7%

$239,129

Cap Rate 9%

$185,989

Alternative Uses

Best Use

Multifamily LT 5

$239.1K

$209.2K – $279.0K (±1% cap)

NOI $16,739 @ 7.0% cap · market cap 8.86%

Second Best

Apartment 5plus

$213.9K

$187.2K – $249.6K (±1% cap)

NOI $14,974 @ 7.0% cap · market cap 7.92%

Theoretical Best

Office A

$560.4K

$490.4K – $653.8K (±1% cap)

NOI $39,229 @ 7.0% cap · market cap 20.76%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

2

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

43

Businesses Nearby

Explore this area Business Placement

Demographics for 13638, NY

398

Population

106

Households

3.8

Avg Household Size

35

Median Age

95%

High-School Grad

0.8 sq mi

ZIP Area

498

Density / Sq Mi

$79,750

Median Household Income

$78,625

Median Earnings

$165,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Separate three- and two-bedroom residences are both occupied under leases that expire in November.

Where is this duplex located?

The property is located at 24307 Boot Jack Hill Road #309 Rutland, NY.

What is the asking price?

The asking price for this property is $189,000.

What are key features of this property?

This property features: Two‑unit duplex with three‑bedroom and two‑bedroom residences; 2,033 square feet on a 1.33‑acre lot; Renovated in 2017, including roof, plumbing, electrical, and flooring updates