Eight-Bedroom Apartment
For Sale
$230,000
474 S James Street, Carthage, NY 13619
MultiFamily, Carthage, NY
Property Size2,375 SF
Lot Size0.32 Acres
Price / SF$96.84
Days on Market185
Property Features for 474 S James Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
Garage
Exterior features
BlacktopDriveway
Appliances
ElectricCooktop, ElectricWaterHeater, Refrigerator
Subdivision
Village/Carthage
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Carthage
Middle school district
Carthage
High school district
Carthage
Standard status
Active
APN
226001-086-041-0003-030-000
Size
2,375 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Annual Amount
2961
Utilities
Heating system
Natural Gas, Baseboard, Forced Air, Electric (Heating)
Water source
Public
Building Details
Year built
1850
Floors in Building
2
Number of units
8
Flooring type
Varies, Laminate, Carpet
Building materials
VinylSiding
Roof type
Metal
Listing Agency:
Bridgeview Real Estate
Listed By:
Kirk Gilchrist · License #10401317321
(315) 782-9292
Added: Mar 31
Changed: Sep 16
Last Checked: Oct 1 at 5:06PM
MLS# S1669931
Copyright © 2026 New York State Alliance of MLSs, LLC. 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.
This apartment building at 474 S James Street in Carthage, NY, provides 2,375 square feet with eight bedrooms, three bathrooms, a shared kitchen, and several common areas. A basement adds additional interior space, while laminate and carpet flooring are used throughout the property. Exterior features include vinyl siding, a metal roof, and a blacktop driveway leading to garage parking.
The property occupies 0.3227 acres and was built in 1850. Public water serves the building, and listed equipment includes an electric cooktop, electric water heater, and refrigerator. The established residential configuration combines private sleeping areas with shared facilities within a single apartment property.
The property occupies 0.3227 acres and was built in 1850. Public water serves the building, and listed equipment includes an electric cooktop, electric water heater, and refrigerator. The established residential configuration combines private sleeping areas with shared facilities within a single apartment property.
Key Highlights
- Eight bedrooms and three bathrooms
- 2,375 square feet on 0.3227 acres
- Shared kitchen and multiple common areas
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
$17,493
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
7.61%
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%
$349,860
$349.9K
Cap Rate 7%
$249,900
$249.9K
Cap Rate 9%
$194,367
$194.4K
Market Conditions
NOI Build-Up for 2,375 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
$34.2K $14.40/SF
− Vacancy
−$2.4K −$1.01/SF
EGI
$31.8K $13.39/SF
− OpEx
−$14.3K −$6.03/SF
NOI
$17.5K $7.37/SF
Area
Jefferson County, NY
Vacancy
7.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
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%
$349,860
Cap Rate 7%
$249,900
Cap Rate 9%
$194,367
Alternative Uses
Best Use
Apartment 5plus
$249.9K
$218.7K – $291.6K
NOI $17,493 @ 7.0% cap · market cap 7.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$654.7K
$572.9K – $763.8K
NOI $45,828 @ 7.0% cap · market cap 19.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
128
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?
Apartment building - Shared kitchen, common areas, and garage parking serve the residential layout.
Where is this apartment building located?
The property is located at 474 S James Street Carthage, NY.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Eight bedrooms and three bathrooms; 2,375 square feet on 0.3227 acres; Shared kitchen and multiple common areas
