Charming Carthage Multi-Unit Investment
For Sale
$209,000
415 N Clinton St, Carthage, NY 13619
Well-maintained 3-unit property in Carthage, near Fort Drum.
Property Size2,132 SF
Days on Market114
Property Features for 415 N Clinton St
General Information
Standard status
Active
Size
2,132 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,959
Building Details
Building Size
2,132 SF
Year Built
1920
Stories
3
Units
3
Listing Agency:
Bridgeview Real Estate Services
(315) 783-2484
Listed By:
Kathy L Woolf · License #10301224575
Source:
Elliman
Added: May 9
Changed: Aug 28
Last Checked: Aug 29 at 12:06PM
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 Bridgeview Real Estate Services
Investment Insights
Based on property information with market context.
Located in the heart of Carthage, this well-maintained 3-unit investment property offers an income opportunity. The multi-family home is situated minutes from Fort Drum, hospitals, schools and shopping. The property features two 2-bedroom, 1-bath units on the first and second floors, and one 1-bedroom, 1-bath unit on the third floor. Each unit includes a private screened-in porch or balcony, along with a common area screened porch. Additional features include a two-car garage rented to tenants on a first come first serve basis, and a fully fenced-in yard. The bike score is 59, indicating it is bikeable, and the walk score is 55, indicating it is somewhat walkable.
Key Highlights
- Turnkey 3‑unit investment property in the heart of Carthage.
- Excellent income opportunity near Fort Drum, hospitals, schools, and shopping.
- Unique layout: Two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit.
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
$17,554
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
8.40%
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%
$351,080
$351.1K
Cap Rate 7%
$250,771
$250.8K
Cap Rate 9%
$195,044
$195.0K
Market Conditions
NOI Build-Up for 2,132 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
$26.9K $12.60/SF
− Vacancy
−$1.8K −$0.84/SF
EGI
$25.1K $11.76/SF
− OpEx
−$7.5K −$3.53/SF
NOI
$17.6K $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 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%
$351,080
Cap Rate 7%
$250,771
Cap Rate 9%
$195,044
Alternative Uses
Best Use
Multifamily LT 5
$250.8K
$219.4K – $292.6K
NOI $17,554 @ 7.0% cap · market cap 8.40%
Second Best
Apartment 5plus
$224.3K
$196.3K – $261.7K
NOI $15,703 @ 7.0% cap · market cap 7.51%
Theoretical Best
Office A
$587.7K
$514.2K – $685.7K
NOI $41,139 @ 7.0% cap · market cap 19.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
313
Businesses Nearby
Explore this area
Business Placement
Demographics for 13619, NY
10,600
Population
4,649
Households
2.3
Avg Household Size
38
Median Age
19%
College-Educated
87%
High-School Grad
112.7 sq mi
ZIP Area
94
Density / Sq Mi
$63,549
Median Household Income
$44,792
Median Earnings
$984
Median Rent
$171,700
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?
Triplex - Well-maintained 3-unit property in Carthage, near Fort Drum.
Where is this triplex located?
The property is located at 415 N Clinton St Carthage, NY.
What is the asking price?
The asking price for this property is $209,000.
What are key features of this property?
This property features: Turnkey 3‑unit investment property in the heart of Carthage.; Excellent income opportunity near Fort Drum, hospitals, schools, and shopping.; Unique layout: Two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit.
