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    Turnkey Student Housing Quadplex Title is generated by Realmo AI

    5058 S Catherine Street, Plattsburgh, NY 12901

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    For Sale
    $355,000

    COMMERCIAL - Plattsburgh, NY

    Property size:
    2,856 SF
    Lot size:
    0.17 Acres
    Price / SF:
    $124/SF
    Added:
    Jun 1, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 5 at 1:06 am

    Property Features for 5058 S Catherine Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Parking Lot, Off Street
    Interior features
    Apartment, High Speed Internet
    Basement
    Unfinished, Full
    Appliances
    Electric Range, Electric Water Heater, Refrigerator
    Standard status
    Active
    APN
    221.7-2-22
    Size
    2,856 SF
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Annual Amount
    10394

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Baseboard
    Water source
    Public

    Building Details

    Year built
    1999
    Floors in Building
    2
    Building materials
    Wood Siding
    Roof type
    Membrane, Flat

    We can help!

    Listing Contact
    Patrick Holcombe

    Listing agent Patrick Holcombe

    Listing office Century 21 The One 438 Route 3, Suite 200, NY

    Listing date Jun 1, 2026

    MLS# 207440

    Copyright © 2026 Adirondack Champlain Valley MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 4‑apartment building rented to students with 10 total bedrooms
    • New hot water (HW) tanks in 2024
    • New flat roof installed in 2022
    • All kitchens, bathrooms, plumbing, and electrical remodeled
    • Public water and public sewer
    • Parking lot and off‑street parking

    Overview

    This for-sale student housing quadplex is configured as a four-apartment building totaling 10 bedrooms. The property is described as being in excellent condition and presented as turnkey, with kitchens, bathrooms, plumbing, and electrical all remodeled. Recent capital improvements include new hot water tanks installed in 2024 and a new roof installed in 2022.

    Ownership information and operating details are included in the remarks. The building is currently rented to students, and the seller indicates that some leases are in place for the 2026–2027 period. Owners also take care of lawn and snow services. The listing notes gross income of $25,000–$26,000 and potential gross income of $60,000, with a 48-hour notice required for showings.

    For buyers seeking a residential income property, this asset offers a fully renovated unit mix designed for student occupancy, supported by documented mechanical and building-envelope upgrades. The current in-place student tenancy and stated lease coverage for the coming season may be relevant for an operator planning continuity of occupancy. Showings are scheduled with advance notice, and the property is being marketed as ready for immediate management and leasing.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $37.7k $13.20
    − Vacancy −$2.9k −$1.00
    EGI $34.8k $12.20
    − OpEx −$10.5k −$3.66
    NOI $24.4k $8.54
    2,856 SF · lease $13.20/SF/yr · vacancy 7.60% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $348.3K
    $304.8K – $406.4K (±1% cap)
    NOI $24,384 @ 7.0% cap · market cap 6.87%
    Second Best
    Apartment 5plus
    $309.7K
    $271.0K – $361.3K (±1% cap)
    NOI $21,677 @ 7.0% cap · market cap 6.11%
    Theoretical Best
    Office A
    $787.3K
    $688.9K – $918.5K (±1% cap)
    NOI $55,109 @ 7.0% cap · market cap 15.52%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Plattsburgh
    County
    Clinton
    State
    New York
    Longitude
    -73.456852
    Latitude
    44.692241

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    FAQs

    What type of property is this?
    Quadplex - Well-maintained four-unit student rental building with recent roof and mechanical upgrades.
    Where is this quadplex located?
    The property is located at 5058 S Catherine Street Plattsburgh, NY.
    What is the asking price?
    The asking price for this property is $355,000.
    What are key features of this property?
    This property features: 4‑apartment building rented to students with 10 total bedrooms; New hot water (HW) tanks in 2024; New flat roof installed in 2022
    (518) 593-1111
    We can help!
    Listing Contact
    Patrick Holcombe
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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