Two-Unit Duplex with Separate
For Sale
$209,900
502 Academy Street, Watertown, NY 13601
Independent electric meters and basement access support the building’s two-unit configuration.
Property Size2,112 SF
Price / SF$99.38
Days on Market34
Property Features for 502 Academy Street
General Information
Standard status
Active
Size
2,112 SF
Property subtype
MultiFamily
Additional Details
Multifamily Units
2
Building Details
Year Built
1885
Buildings
1
Listing Agency:
eXp Realty
(888) 276-0630
Listed By:
Mikel Miller · License #10401388284
(309) 428-0702
Source:
Prestigefamilyrealty
Added: Oct 2
Changed: Nov 4
Last Checked: Nov 3 at 8:50PM
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 eXp Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1885, this Watertown duplex has one residence on each of two floors. Each unit has its own street-facing entrance and electric meter. The upper residence is tenant occupied; the first-floor residence is owner occupied and includes a recently updated bedroom with recessed lighting. Basement access is available with the first-floor unit for storage and utility use.
The property is at 502 Academy St in Watertown, near local shopping, dining, schools, and other area amenities. Its Walk Score is 53 and its Bike Score is 45.
The property is at 502 Academy St in Watertown, near local shopping, dining, schools, and other area amenities. Its Walk Score is 53 and its Bike Score is 45.
Key Highlights
- Two residential units arranged on separate floors
- Separate entrance and electric meter for each unit
- Upper‑floor residence is tenant occupied; first‑floor unit is owner occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,389
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$347,780
$347.8K
Cap Rate 7%
$248,414
$248.4K
Cap Rate 9%
$193,211
$193.2K
Market Conditions
NOI Build-Up for 2,112 SF
Gross rent
$26.6K $12.60/SF
− Vacancy
−$1.8K −$0.84/SF
EGI
$24.8K $11.76/SF
− OpEx
−$7.5K −$3.53/SF
NOI
$17.4K $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 Rate 5%
$347,780
Cap Rate 7%
$248,414
Cap Rate 9%
$193,211
Alternative Uses
Best Use
Multifamily LT 5
$248.4K
$217.4K – $289.8K
NOI $17,389 @ 7.0% cap · market cap 8.28%
Second Best
Apartment 5plus
$222.2K
$194.5K – $259.3K
NOI $15,556 @ 7.0% cap · market cap 7.41%
Theoretical Best
Office A
$582.2K
$509.4K – $679.2K
NOI $40,753 @ 7.0% cap · market cap 19.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,536
Businesses Nearby
Explore this area
Business Placement
Demographics for 13601, NY
37,287
Population
18,653
Households
2
Avg Household Size
37
Median Age
25%
College-Educated
90%
High-School Grad
140.8 sq mi
ZIP Area
265
Density / Sq Mi
$57,503
Median Household Income
$37,061
Median Earnings
$974
Median Rent
$170,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Independent electric meters and basement access support the building’s two-unit configuration.
Where is this duplex located?
The property is located at 502 Academy Street Watertown, NY.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: Two residential units arranged on separate floors; Separate entrance and electric meter for each unit; Upper‑floor residence is tenant occupied; first‑floor unit is owner occupied
