Duplex with 3-Stall
For Sale
$239,900
352 S Rutland St, Watertown, NY 13601
Updated two-unit property with substantial garage capacity and off-street parking.
Property Size2,605 SF
Days on Market51
Property Features for 352 S Rutland St
General Information
Standard status
Active
Size
2,605 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,321
Building Details
Building Size
2,605 SF
Year Built
1880
Units
2
Listing Agency:
Marble Key Realty LLC
Listed By:
Julie Ablan-Woodrow
(315) 783-0191
Source:
Elliman
Added: Sep 12
Changed: Oct 31
Last Checked: Nov 1 at 7:18AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marble Key Realty LLC
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Investment Insights
Based on property information with market context.
This duplex contains two large rental units and has undergone extensive updates within the last 3 years. Improvements include a new roof, siding, trim, windows, doors, electrical system, plumbing, walls, and ceilings. A 3-stall garage and additional off-street parking support the property’s practical residential-income configuration.
Built in 1880, the property is located at 352 S Rutland St in Watertown, NY. Walk Score is 53 and Bike Score is 45, reflecting somewhat walkable and somewhat bikeable conditions.
Built in 1880, the property is located at 352 S Rutland St in Watertown, NY. Walk Score is 53 and Bike Score is 45, reflecting somewhat walkable and somewhat bikeable conditions.
Key Highlights
- Two large rental units in a duplex configuration
- 3‑stall garage with additional off‑street parking
- Renovations completed within the last 3 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,448
Cap Rate
8.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$428,960
$429.0K
Cap Rate 7%
$306,400
$306.4K
Cap Rate 9%
$238,311
$238.3K
Market Conditions
NOI Build-Up for 2,605 SF
Gross rent
$32.8K $12.60/SF
− Vacancy
−$2.2K −$0.84/SF
EGI
$30.6K $11.76/SF
− OpEx
−$9.2K −$3.53/SF
NOI
$21.4K $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%
$428,960
Cap Rate 7%
$306,400
Cap Rate 9%
$238,311
Alternative Uses
Best Use
Multifamily LT 5
$306.4K
$268.1K – $357.5K
NOI $21,448 @ 7.0% cap · market cap 8.94%
Second Best
Apartment 5plus
$274.1K
$239.8K – $319.8K
NOI $19,187 @ 7.0% cap · market cap 8.00%
Theoretical Best
Office A
$718.1K
$628.3K – $837.8K
NOI $50,266 @ 7.0% cap · market cap 20.95%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
974
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Updated two-unit property with substantial garage capacity and off-street parking.
Where is this duplex located?
The property is located at 352 S Rutland St Watertown, NY.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Two large rental units in a duplex configuration; 3‑stall garage with additional off‑street parking; Renovations completed within the last 3 years
