Duplex Property with Vacant
New
For Sale
$150,000
517 West Street, Carthage, NY 13619
Residential, Carthage, NY
Property Size1,492 SF
Lot Size0.06 Acres
Price / SF$100.54
Days on Market2
Property Features for 517 West Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 1, Bathroom 3, Bedroom 5, Bedroom 3, Bedroom 2, Basement
Patio and Porch features
Porch, Deck
Interior features
CeilingFans
Exterior features
Deck, EnclosedPorch, Porch, PrivateYard
Appliances
ElectricWaterHeater
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school
Carthage Elementary
Middle school
Carthage Middle
High school
Carthage Senior High
Elementary school district
Carthage
Middle school district
Carthage
High school district
Carthage
Directions
From State St turn onto S. James St and then right onto West St. Properties will be on your right. Look for signs
Subdivision
Carthage-Village-226001
Standard status
Active
APN
226001-086-041-0001-009-100
Size
1,492 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
3153
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Laminate, Tile, Varies
Building materials
Frame, VinylSiding
Roof type
Shingle
Listing Agency:
Bridgeview Real Estate
(315) 782-9292
Listed By:
Erin Gebo · License #10401358541
(315) 782-9292
Added: Aug 20
Last Checked: Aug 21 at 12:06AM
MLS# S1707964
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 duplex property includes two separate frame residences and an additional vacant lot, offered together in as-is condition. The front home contains three bedrooms and one and one-half baths on a 40 x 70 lot, while the rear home provides two bedrooms and one bath on a 40 x 40 lot. Both residences require updating. Interior finishes vary and include tile and laminate flooring, with forced-air natural gas heating and public water service. Exterior features include porches, a deck, enclosed porch space, and private yards.
The vacant parcel measures 54 x 141 and adds land to the combined offering. The property dates to 1920 and includes shingle roofing, vinyl siding, basement space, ceiling fans, and an electric water heater. All three parcels are being conveyed together.
The vacant parcel measures 54 x 141 and adds land to the combined offering. The property dates to 1920 and includes shingle roofing, vinyl siding, basement space, ceiling fans, and an electric water heater. All three parcels are being conveyed together.
Key Highlights
- Two‑house duplex property with an additional vacant lot
- Front residence has 3 bedrooms, 1 1/2 baths, and a 40 x 70 lot
- Rear residence includes 2 bedrooms, 1 bath, and a 40 x 40 lot
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
$12,284
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
8.19%
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%
$245,680
$245.7K
Cap Rate 7%
$175,486
$175.5K
Cap Rate 9%
$136,489
$136.5K
Market Conditions
NOI Build-Up for 1,492 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
$18.8K $12.60/SF
− Vacancy
−$1.3K −$0.84/SF
EGI
$17.5K $11.76/SF
− OpEx
−$5.3K −$3.53/SF
NOI
$12.3K $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%
$245,680
Cap Rate 7%
$175,486
Cap Rate 9%
$136,489
Alternative Uses
Best Use
Multifamily LT 5
$175.5K
$153.6K – $204.7K
NOI $12,284 @ 7.0% cap · market cap 8.19%
Second Best
Apartment 5plus
$157.0K
$137.4K – $183.2K
NOI $10,989 @ 7.0% cap · market cap 7.33%
Theoretical Best
Office A
$411.3K
$359.9K – $479.8K
NOI $28,790 @ 7.0% cap · market cap 19.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
410
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 separate homes and an adjoining vacant parcel are offered together for renovation and future use flexibility.
Where is this duplex located?
The property is located at 517 West Street Carthage, NY.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Two‑house duplex property with an additional vacant lot; Front residence has 3 bedrooms, 1 1/2 baths, and a 40 x 70 lot; Rear residence includes 2 bedrooms, 1 bath, and a 40 x 40 lot
