Two-Story Duplex with
For Sale
$214,900
416 S James St, Carthage, NY 13619
Two three-bedroom apartments offer separate utilities, porches, shared laundry, storage, and a spacious yard.
Property Size2,402 SF
Price / SF$89.47
Days on Market35
Property Features for 416 S James St
General Information
Standard status
Active
Size
2,402 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,200
Amenities
front porch
back porch
shared laundry area
carriage house-style garage
spacious yard
separate storage areas
Building Details
Year Built
1880
Buildings
1
Tenancy
Single
Listing Agency:
TLC Real Estate LLC - Carthage
(315) 783-6455
Listed By:
Marsha Gibbons · License #109908782
Source:
Skinnercnyrealty
Added: Jul 27
Changed: Aug 29
Last Checked: Aug 29 at 11:54AM
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 TLC Real Estate LLC - Carthage
Investment Insights
Based on property information with market context.
This 2,402-square-foot duplex, built in 1880, contains two apartments with matching two-story layouts. Each unit includes three bedrooms, 1.5 bathrooms, a kitchen, formal dining room, living room, entry closet, and front and rear porches. Original hardwood flooring and woodwork add character throughout. One full bathroom was renovated approximately two years ago, while the other apartment has fresh paint and a new bathroom vanity.
The property includes a carriage house-style garage, blacktop driveway, and spacious yard. A shared basement provides laundry facilities and separate storage areas for each apartment, along with hot water boiler furnaces and separate electric hot water tanks. Each unit has its own natural gas and electric utilities, with water managed by the owner. One apartment is occupied and the other is vacant. The property is located at 416 S James St in Carthage, less than 20 minutes from the Fort Drum Route 26 Gate.
The property includes a carriage house-style garage, blacktop driveway, and spacious yard. A shared basement provides laundry facilities and separate storage areas for each apartment, along with hot water boiler furnaces and separate electric hot water tanks. Each unit has its own natural gas and electric utilities, with water managed by the owner. One apartment is occupied and the other is vacant. The property is located at 416 S James St in Carthage, less than 20 minutes from the Fort Drum Route 26 Gate.
Key Highlights
- 2,402‑square‑foot duplex built in 1880
- Two apartments, each with 3 bedrooms and 1.5 bathrooms
- Two‑story layouts with front and rear porches
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
$19,777
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
9.20%
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%
$395,540
$395.5K
Cap Rate 7%
$282,529
$282.5K
Cap Rate 9%
$219,744
$219.7K
Market Conditions
NOI Build-Up for 2,402 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
$30.3K $12.60/SF
− Vacancy
−$2.0K −$0.84/SF
EGI
$28.3K $11.76/SF
− OpEx
−$8.5K −$3.53/SF
NOI
$19.8K $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%
$395,540
Cap Rate 7%
$282,529
Cap Rate 9%
$219,744
Alternative Uses
Best Use
Multifamily LT 5
$282.5K
$247.2K – $329.6K
NOI $19,777 @ 7.0% cap · market cap 9.20%
Second Best
Apartment 5plus
$252.7K
$221.2K – $294.9K
NOI $17,692 @ 7.0% cap · market cap 8.23%
Theoretical Best
Office A
$662.1K
$579.4K – $772.5K
NOI $46,349 @ 7.0% cap · market cap 21.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
234
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?
Duplex - Two three-bedroom apartments offer separate utilities, porches, shared laundry, storage, and a spacious yard.
Where is this duplex located?
The property is located at 416 S James St Carthage, NY.
What is the asking price?
The asking price for this property is $214,900.
What are key features of this property?
This property features: 2,402‑square‑foot duplex built in 1880; Two apartments, each with 3 bedrooms and 1.5 bathrooms; Two‑story layouts with front and rear porches
