Watertown Duplex with Garage
537 Cross Street Watertown, NY 13601
For Sale
Under Contract
$180,000
MULTI_FAMILY - Watertown, NY
Property Size1,382 SF
Lot Size0.20 Acres
Price / SF$130.25
Days on Market93
Property Features for 537 Cross Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 1, Basement
Appliances
ElectricWaterHeater, GasWaterHeater
Standard status
Active Under Contract
APN
221800-009-000-0002-124-000-0000
Size
1,382 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
2385
Utilities
Heating system
Forced Air, Electric (Heating), Baseboard, Natural Gas
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Varies, Carpet
Building materials
VinylSiding
Listing Agency:
Keller Williams Northern New York
(315) 459-6619
Listed By:
Noah Taylor · License #10401359495
(315) 778-6473
Added: Apr 29
Changed: Jul 12
Last Checked: Jul 30 at 6:06AM
MLS# S1677199
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.
Located in the City of Watertown, this well-maintained duplex at 537 Cross St offers strong rental income. The property features a 1-bedroom apartment rented for $775 per month and a 2-bedroom unit generating $1,000 per month. The larger unit has a two-story layout, providing ample living space. Tenants are long term and maintain the property well. A standout feature is the exceptional garage space available for tenant use. The backyard is unusually large for a city lot, offering plenty of usable outdoor space. The property size is 1382 square feet, situated on a lot of 0.2028 acres. This duplex presents an excellent opportunity for investors looking to expand their portfolio with a quality asset. The seller also has a triplex across the street at 522 Cross that is also for sale, the 2 properties could be sold as a package together!
Key Highlights
- Duplex at 537 Cross St in Watertown with two units: 1‑bedroom renting for $775/month and 2‑bedroom renting for $1,000/month.
- Long‑term tenants in both units, with the property described as well‑maintained and consistently cared for.
- 2‑bedroom unit features a two‑story layout for separation and additional living space.
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 | $17.4k | $12.60 |
| − Vacancy | −$1.2k | −$0.84 |
| EGI | $16.3k | $11.76 |
| − OpEx | −$4.9k | −$3.53 |
| NOI | $11.4k | $8.23 |
1,382 SF · lease $12.60/SF/yr · vacancy 6.65% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$162.6K
$142.2K – $189.7K
NOI $11,379 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$145.4K
$127.2K – $169.7K
NOI $10,179 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$381.0K
$333.3K – $444.5K
NOI $26,667 @ 7.0% cap · market cap 14.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with strong rental income and desirable features.
Where is this duplex located?
The property is located at 537 Cross Street Watertown, NY.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: Duplex at 537 Cross St in Watertown with two units: 1‑bedroom renting for $775/month and 2‑bedroom renting for $1,000/month.; Long‑term tenants in both units, with the property described as well‑maintained and consistently cared for.; 2‑bedroom unit features a two‑story layout for separation and additional living space.
