Renovated Duplex with Two
For Sale
$214,900
416 S James Street, Carthage, NY 13619
Well-maintained duplex with two 3-bedroom units, separate utilities, and shared laundry in a basement.
Property Size2,402 SF
Days on Market40
Property Features for 416 S James Street
General Information
Standard status
Active
Size
2,402 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,004
Amenities
front porch
private back porch
carriage house-style garage
shared laundry area
separate storage areas
Building Details
Building Size
2,402 SF
Year Built
1880
Stories
2
Units
2
Listing Agency:
TLC Real Estate LLC - Carthage
(315) 493-1111
Listed By:
Marsha Gibbons · License #10491209646
Source:
Homeprocny
Added: Jul 16
Changed: Aug 23
Last Checked: Aug 22 at 9:29AM
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.
Well-maintained duplex featuring two-story, functional layouts in each unit. Both apartments offer 3 bedrooms and 1.5 bathrooms, with a first-floor living room, formal dining room, and large kitchen. Each unit includes half bath on the main level and a full bathroom upstairs, with hardwood floors and woodwork throughout. The occupied unit has a renovated full bathroom completed approximately two years ago, while the vacant unit has been freshly painted with a new bathroom vanity for move-in readiness. Outdoor space includes a front porch and a private back porch for each apartment. Exterior features include a blacktop driveway, carriage house-style garage, and a spacious yard. The basement provides a shared laundry area, separate storage areas for each apartment, hot water boiler furnaces, and separate electric hot water tanks. Each unit has separate natural gas and electric utilities, and the owner is responsible for water.
Both apartments have consistently rented for $1,200 per month, with one unit currently occupied at that rate. Located in the Village of Carthage, the property is less than 20 minutes from the Fort Drum Route 26 Gate.
Both apartments have consistently rented for $1,200 per month, with one unit currently occupied at that rate. Located in the Village of Carthage, the property is less than 20 minutes from the Fort Drum Route 26 Gate.
Key Highlights
- Well‑maintained duplex built in 1880 in the Village of Carthage
- Two 3‑bedroom units, each with 1.5 bathrooms and a functional two‑story layout
- Occupied unit has renovated full bathroom completed about 2 years ago; vacant unit freshly painted with new bathroom vanity
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with two 3-bedroom units, separate utilities, and shared laundry in a basement.
Where is this duplex located?
The property is located at 416 S James Street 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: Well‑maintained duplex built in 1880 in the Village of Carthage; Two 3‑bedroom units, each with 1.5 bathrooms and a functional two‑story layout; Occupied unit has renovated full bathroom completed about 2 years ago; vacant unit freshly painted with new bathroom vanity
