Six-Bedroom
New
For Sale
$250,000
3004 Watson Boulevard, Endicott, NY 13760
MultiFamily, Duplex, ENDICOTT, NY
Property Size2,470 SF
Lot Size0.16 Acres
Price / SF$101.21
Days on Market2
Property Features for 3004 Watson Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
res 2
Bedrooms
6
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 6, Bedroom 2, Bathroom 1, Bedroom 3, Basement, Bathroom 3, Bedroom 4, Bathroom 2, Bathroom 4, Bedroom 5, Bedroom 1
Parking features
Garage
Patio and Porch features
Porch
Exterior features
ENCLOSED PORCH
Appliances
RANGE/STOVE, REFRIGERATOR
Subdivision
Nathan L Messenger Pt I
Lot features
G E N E R A L L Y L E V E L
Elementary school
Homer Brink
Elementary school district
Maine Endwell
Middle school district
Maine Endwell
High school district
Maine Endwell
Directions
Endwell Watson Blvd to 3004 Watson
Standard status
Active
APN
034689-141-020-0004-012-000-0000
Size
2,470 SF
Lot size
0.16 Acres
Utilities
Heating system
Forced Air
Cooling system
Ceiling Fan(s)
Water source
Public
Amenities
walk-up attic
Building Details
Year built
1940
Number of units
2
Flooring type
Hardwood, Laminate, Tile
Building materials
Vinyl
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY GREATER BINGHAMTON
(607) 722-0722
Listed By:
Yelena Reporyeva
(917) 538-4695
Added: Sep 17
Last Checked: Sep 18 at 5:06PM
MLS# 338013
Copyright © 2026 Greater Binghamton Association of Realtor. 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 2,470-square-foot duplex, built in 1940, contains two residential units with three bedrooms and 1.5 baths in each. Hardwood, tile, and laminate flooring are installed throughout the property, while both units have new furnaces and new water heaters. The building also includes a walk-up attic, enclosed porch, basement, range/stove, refrigerators, and ceiling fans. Vinyl siding and forced-air heating are among the existing features.
Set on a 0.155-acre lot, the property includes a two-car garage and backyard. The second unit is tenant occupied, providing an existing occupancy arrangement for an owner-occupant or investor. Public water serves the property, and zoning is listed as res 2.
Set on a 0.155-acre lot, the property includes a two-car garage and backyard. The second unit is tenant occupied, providing an existing occupancy arrangement for an owner-occupant or investor. Public water serves the property, and zoning is listed as res 2.
Key Highlights
- Two‑unit duplex with 2,470 square feet
- Each unit offers 3 bedrooms and 1.5 baths
- Both units have new furnaces and new water heaters
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
$22,071
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
8.83%
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%
$441,420
$441.4K
Cap Rate 7%
$315,300
$315.3K
Cap Rate 9%
$245,233
$245.2K
Market Conditions
NOI Build-Up for 2,470 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
$34.1K $13.80/SF
− Vacancy
−$2.6K −$1.04/SF
EGI
$31.5K $12.77/SF
− OpEx
−$9.5K −$3.83/SF
NOI
$22.1K $8.94/SF
Area
Broome County, NY
Vacancy
7.50%
Lease Rate
$13.80 /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%
$441,420
Cap Rate 7%
$315,300
Cap Rate 9%
$245,233
Alternative Uses
Best Use
Multifamily LT 5
$315.3K
$275.9K – $367.9K
NOI $22,071 @ 7.0% cap · market cap 8.83%
Second Best
Apartment 5plus
$294.0K
$257.2K – $343.0K
NOI $20,577 @ 7.0% cap · market cap 8.23%
Theoretical Best
Office A
$612.8K
$536.2K – $714.9K
NOI $42,895 @ 7.0% cap · market cap 17.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
723
Businesses Nearby
Explore this area
Business Placement
Demographics for 13760, NY
44,153
Population
20,988
Households
2.1
Avg Household Size
44
Median Age
34%
College-Educated
93%
High-School Grad
49.3 sq mi
ZIP Area
896
Density / Sq Mi
$63,242
Median Household Income
$41,939
Median Earnings
$883
Median Rent
$150,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with updated mechanical systems, a two-car garage, and a tenant-occupied unit.
Where is this duplex located?
The property is located at 3004 Watson Boulevard Endicott, NY.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,470 square feet; Each unit offers 3 bedrooms and 1.5 baths; Both units have new furnaces and new water heaters
