Two-Unit Duplex with Detached
For Sale
$180,000
Pending
551 Coffeen St, Watertown, NY 13601
Duplex offers two 2-bedroom, 1-bath units and a 25' x 50' detached garage with off-street parking.
Property Size1,820 SF
Days on Market108
Property Features for 551 Coffeen St
General Information
Standard status
Pending
Size
1,820 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,880
Building Details
Building Size
1,820 SF
Year Built
1880
Stories
2
Units
2
Listing Agency:
Lake Ontario Realty, LLC
Listed By:
Shanae Wiseman · License #10301223974
(315) 778-1209
Source:
Elliman
Added: Jul 21
Changed: Oct 25
Last Checked: Nov 4 at 1:03PM
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 Lake Ontario Realty, LLC
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Investment Insights
Based on property information with market context.
This duplex features two separate apartments, each with 2 bedrooms and 1 full bathroom. The first-floor unit has been renovated, providing updated living space for the next owner or tenant.
The property is located on Coffeen Street in Watertown with convenient access to shopping, dining, parks, schools, and Fort Drum, along with everyday amenities.
A detached garage measuring 25' x 50' provides substantial space for vehicles, storage, hobbies, or a workshop. The property also includes ample off-street parking and a backyard.
The property is located on Coffeen Street in Watertown with convenient access to shopping, dining, parks, schools, and Fort Drum, along with everyday amenities.
A detached garage measuring 25' x 50' provides substantial space for vehicles, storage, hobbies, or a workshop. The property also includes ample off-street parking and a backyard.
Key Highlights
- Watertown duplex built in 1880 offering two separate apartments
- Each unit features 2 bedrooms and 1 full bathroom
- First‑floor unit has been tastefully renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,985
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$299,700
$299.7K
Cap Rate 7%
$214,071
$214.1K
Cap Rate 9%
$166,500
$166.5K
Market Conditions
NOI Build-Up for 1,820 SF
Gross rent
$22.9K $12.60/SF
− Vacancy
−$1.5K −$0.84/SF
EGI
$21.4K $11.76/SF
− OpEx
−$6.4K −$3.53/SF
NOI
$15.0K $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%
$299,700
Cap Rate 7%
$214,071
Cap Rate 9%
$166,500
Alternative Uses
Best Use
Multifamily LT 5
$214.1K
$187.3K – $249.8K
NOI $14,985 @ 7.0% cap · market cap 8.33%
Second Best
Apartment 5plus
$191.5K
$167.6K – $223.4K
NOI $13,405 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$501.7K
$439.0K – $585.3K
NOI $35,119 @ 7.0% cap · market cap 19.51%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,181
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Duplex offers two 2-bedroom, 1-bath units and a 25' x 50' detached garage with off-street parking.
Where is this duplex located?
The property is located at 551 Coffeen St 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: Watertown duplex built in 1880 offering two separate apartments; Each unit features 2 bedrooms and 1 full bathroom; First‑floor unit has been tastefully renovated
