Triplex with Private
For Sale
$209,000
415 N Clinton Street, Carthage, NY 13619
Three residential units include separate utilities, storage, laundry access, and a fenced outdoor area near Fort Drum.
Property Size2,132 SF
Days on Market143
Property Features for 415 N Clinton Street
General Information
Standard status
Active
Size
2,132 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,959
Amenities
screened-in porch
balcony
common area screen porch
fenced-in yard
coin-operated laundry
storage room
Building Details
Building Size
2,132 SF
Year Built
1920
Stories
3
Units
3
Listing Agency:
Bridgeview Real Estate
(315) 782-9292
Listed By:
Kathy L Woolf · License #10301224575
(315) 783-2484
Source:
Homeprocny
Added: Apr 30
Changed: Sep 18
Last Checked: Sep 18 at 3:17PM
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
Investment Insights
Based on property information with market context.
Built in 1920, this three-unit residential property at 415 N Clinton Street includes two 2-bedroom, 1-bath apartments and one 1-bedroom, 1-bath apartment arranged across three floors. Each residence has private outdoor space in the form of a screened porch or balcony, and a shared screened porch adds another common amenity. Every unit also includes dedicated storage space.
The property includes a fully fenced yard and a two-car garage that is rented separately to tenants. Basement laundry provides coin-operated machines for residents, while the second-floor apartment has private laundry hookups. Separate utilities serve the units, with an arrangement for electric and heat associated with common areas. The property is in Carthage, near Fort Drum, hospitals, schools, and shopping.
The property includes a fully fenced yard and a two-car garage that is rented separately to tenants. Basement laundry provides coin-operated machines for residents, while the second-floor apartment has private laundry hookups. Separate utilities serve the units, with an arrangement for electric and heat associated with common areas. The property is in Carthage, near Fort Drum, hospitals, schools, and shopping.
Key Highlights
- Three‑unit layout with two 2‑bedroom, 1‑bath apartments and one 1‑bedroom, 1‑bath apartment
- Built in 1920 at 415 N Clinton Street, Carthage, NY 13619
- Private screened porch or balcony for every unit, plus a shared screened porch
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
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Current Use
Lease Details
3
Residential units
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
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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?
Triplex - Three residential units include separate utilities, storage, laundry access, and a fenced outdoor area near Fort Drum.
Where is this triplex located?
The property is located at 415 N Clinton Street 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: Three‑unit layout with two 2‑bedroom, 1‑bath apartments and one 1‑bedroom, 1‑bath apartment; Built in 1920 at 415 N Clinton Street, Carthage, NY 13619; Private screened porch or balcony for every unit, plus a shared screened porch
