4-Unit Quadplex Apartment
For Sale
$268,000
38 E Main Street, Canton, NY 13617
MULTI_FAMILY - Canton, NY
Property Size3,032 SF
Price / SF$88.39
Days on Market47
Property Features for 38 E Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 4, Bathroom 3, Bedroom 1, Bathroom 4, Bedroom 2, Bedroom 6, Bathroom 2, Bathroom 1, Bedroom 5
Parking
4
Patio and Porch features
Porch
Exterior features
Covered porch, Outdoor lights, Storage/out-building(s)
Directions
From center of village East Main St. toward Potsdam - house on right - look for sign.
Subdivision
ST LAWRENCE
Standard status
Active
APN
88.043-5-3
Size
3,032 SF
Taxes and HOA fees
Tax Annual Amount
7490
Utilities
Utilities
Cable Available
Water source
Public
Building Details
Year built
1960
Floors in Building
2
Number of units
4
Flooring type
Vinyl, Carpet, Hardwood
Building materials
Wood siding
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Grasse River Real Estate, LLC
(315) 386-4521
Listed By:
Gail C Abplanalp · License #30AB0995647
(315) 854-4293
Added: Jul 4
Changed: Aug 3
Last Checked: Aug 19 at 11:06PM
MLS# 53031
Copyright © 2026 St. Lawrence Board of Realtors. 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.
Located at 38 E Main Street in Canton, this quadplex apartment building contains four units in total: two efficiency apartments and two two-bedroom apartments, offering a mix of rental layouts. The property includes off-street parking and exterior amenities such as a covered porch, outdoor lights, and a storage/out-building.
The building was constructed in 1960 and features wood siding. Interior finishes include vinyl, carpet, and hardwood flooring. Utilities include cable availability, and the property is served by public water.
With two distinct unit types—efficiency and two-bedroom—the property provides tenant option variety while remaining focused on the core needs of an income-producing multi-family asset.
The building was constructed in 1960 and features wood siding. Interior finishes include vinyl, carpet, and hardwood flooring. Utilities include cable availability, and the property is served by public water.
With two distinct unit types—efficiency and two-bedroom—the property provides tenant option variety while remaining focused on the core needs of an income-producing multi-family asset.
Key Highlights
- Four‑unit quadplex with two efficiency apartments and two two‑bedroom apartments
- Plenty of off‑street parking
- 3032 SF apartment building
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
$15,493
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
5.78%
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%
$309,860
$309.9K
Cap Rate 7%
$221,329
$221.3K
Cap Rate 9%
$172,144
$172.1K
Market Conditions
NOI Build-Up for 3,032 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
$28.0K $9.24/SF
− Vacancy
−$5.9K −$1.94/SF
EGI
$22.1K $7.30/SF
− OpEx
−$6.6K −$2.19/SF
NOI
$15.5K $5.11/SF
Area
St. Lawrence County, NY
Vacancy
21.00%
Lease Rate
$9.24 /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%
$309,860
Cap Rate 7%
$221,329
Cap Rate 9%
$172,144
Alternative Uses
Best Use
Multifamily LT 5
$221.3K
$193.7K – $258.2K
NOI $15,493 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$202.7K
$177.3K – $236.4K
NOI $14,186 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$752.2K
$658.2K – $877.6K
NOI $52,655 @ 7.0% cap · market cap 19.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
Explore this area
Business Placement
Demographics for 13617, NY
12,083
Population
4,645
Households
2.6
Avg Household Size
29
Median Age
36%
College-Educated
93%
High-School Grad
132.5 sq mi
ZIP Area
91
Density / Sq Mi
$72,652
Median Household Income
$26,397
Median Earnings
$901
Median Rent
$148,900
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?
Quadplex - Two efficiency units and two two-bedroom units in a quadplex with off-street parking and a covered porch.
Where is this quadplex located?
The property is located at 38 E Main Street Canton, NY.
What is the asking price?
The asking price for this property is $268,000.
What are key features of this property?
This property features: Four‑unit quadplex with two efficiency apartments and two two‑bedroom apartments; Plenty of off‑street parking; 3032 SF apartment building
