Duplex with Vacant Lower
For Sale
$195,000
377 W Main St, Watertown, NY 13601
One residence is unoccupied, while the second is tenant-occupied with the resident responsible for electric.
Property Size1,991 SF
Lot Size0.18 Acres
Price / SF$97.94
Days on Market34
Property Features for 377 W Main St
General Information
Standard status
Active
Size
1,991 SF
Lot size
0.18 Acres
Property subtype
Multi-Unit (2-4)
Additional Details
Asking Price
$205,000
Multifamily Units
2
Tenant in Place
Yes
Building Details
Year Built
1860
Listing Agency:
IRE INVESTMENTS
Listed By:
Jonathan Gardner
(518) 379-0652
Source:
Gosenproperties
Added: Sep 29
Changed: Nov 1
Last Checked: Oct 31 at 9:06PM
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 IRE INVESTMENTS
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Investment Insights
Based on property information with market context.
This Watertown duplex contains two units with six bedrooms and two baths across 1,991 square feet. Built in 1860, the property sits on a 0.18-acre lot. The lower residence has three bedrooms and is vacant; the upper residence is occupied by a tenant who pays electric.
The property is near the Black River and close to downtown shopping, dining, and parks.
The property is near the Black River and close to downtown shopping, dining, and parks.
Key Highlights
- Two‑unit duplex with 6 bedrooms and 2 baths across 1,991 sq ft
- 0.18‑acre lot
- Built in 1860
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,393
Cap Rate
8.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$327,860
$327.9K
Cap Rate 7%
$234,186
$234.2K
Cap Rate 9%
$182,144
$182.1K
Market Conditions
NOI Build-Up for 1,991 SF
Gross rent
$25.1K $12.60/SF
− Vacancy
−$1.7K −$0.84/SF
EGI
$23.4K $11.76/SF
− OpEx
−$7.0K −$3.53/SF
NOI
$16.4K $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%
$327,860
Cap Rate 7%
$234,186
Cap Rate 9%
$182,144
Alternative Uses
Best Use
Multifamily LT 5
$234.2K
$204.9K – $273.2K
NOI $16,393 @ 7.0% cap · market cap 8.41%
Second Best
Apartment 5plus
$209.5K
$183.3K – $244.4K
NOI $14,665 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$548.8K
$480.2K – $640.3K
NOI $38,418 @ 7.0% cap · market cap 19.70%
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
1,348
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 - One residence is unoccupied, while the second is tenant-occupied with the resident responsible for electric.
Where is this duplex located?
The property is located at 377 W Main St Watertown, NY.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Two‑unit duplex with 6 bedrooms and 2 baths across 1,991 sq ft; 0.18‑acre lot; Built in 1860
