Duplex with Detached
For Sale
$180,000
551 Coffeen Street, Watertown, NY 13601
Two apartments provide matching two-bedroom layouts, with a refreshed first-floor unit and off-street parking.
Property Size1,820 SF
Price / SF$98.90
Days on Market100
Property Features for 551 Coffeen Street
General Information
Standard status
Active
Size
1,820 SF
Property subtype
Multi Family Home
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$2,880
Amenities
Enclosed Porch
Porch
Building Details
Building Size
1,820 SF
Year Built
1880
Stories
2
Units
2
Listing Agency:
Lake Ontario Realty, LLC
(315) 649-3434
Listed By:
Shanae Wiseman · License #10301223974
(315) 778-1209
Source:
Garlockrealty
Added: Jul 16
Changed: Oct 23
Last Checked: Oct 23 at 2:01PM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This duplex contains two apartments, each arranged with two bedrooms and one full bathroom. The first-floor residence has been renovated. A detached garage measuring 25' x 50' adds substantial space for vehicles, storage, hobbies, or workshop use, and the property also includes off-street parking and a backyard.
Located at 551 Coffeen Street in Watertown, the property is near shopping, dining, parks, schools, and Fort Drum. The building dates to 1880 and contains 1,820 square feet.
Located at 551 Coffeen Street in Watertown, the property is near shopping, dining, parks, schools, and Fort Drum. The building dates to 1880 and contains 1,820 square feet.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 full bathroom
- Renovated first‑floor apartment
- Detached garage measuring 25' x 50'
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.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
933
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
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two apartments provide matching two-bedroom layouts, with a refreshed first-floor unit and off-street parking.
Where is this duplex located?
The property is located at 551 Coffeen 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: Two apartments, each with 2 bedrooms and 1 full bathroom; Renovated first‑floor apartment; Detached garage measuring 25' x 50'
