Historic Apartment Building with
For Sale
$370,000
6188 N Main Street, Sandy Creek, NY 13145
MultiFamily, Sandy Creek, NY
Property Size3,272 SF
Lot Size30.81 Acres
Price / SF$113.08
Days on Market124
Property Features for 6188 N Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Rooms
Bedroom 1, Bedroom 3, Basement, Bedroom 2
Parking features
Garage, Driveway
Patio and Porch features
Porch
Interior features
NaturalWoodwork
Exterior features
DirtDriveway, GravelDriveway
Appliances
GasOven, GasRange, GasWaterHeater, Refrigerator
Lot features
Irregular Lot, Wooded
Elementary school
Sandy Creek Elementary
Middle school
Sandy Creek Middle
High school
Sandy Creek High
Elementary school district
Sandy Creek
Middle school district
Sandy Creek
High school district
Sandy Creek
Directions
US RTE 11 Sandy Creek
Subdivision
Sandy Creek-Village-355203
Standard status
Active
APN
355203-019-015-0002-004-000-0000
Size
3,272 SF
Lot size
30.81 Acres
Taxes and HOA fees
Tax Annual Amount
4693
Utilities
Sewer type
Septic Tank
Heating system
Baseboard, Hot Water(Heating), Natural Gas
Water source
Public
Building Details
Year built
1850
Floors in Building
3
Number of units
6
Flooring type
Varies, Carpet, Vinyl
Building materials
VinylSiding, WoodSiding
Roof type
Asphalt, Metal
Listing Agency:
Berkshire Hathaway HomeServices CNY Realty Watn
(315) 232-7355
Listed By:
Karen Peebles · License #10301210000
(315) 778-1290
Added: May 20
Changed: Sep 16
Last Checked: Sep 20 at 1:06PM
MLS# S1683552
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.
Built in 1850, this 3,272-square-foot apartment building occupies 30.81 acres and retains period character, including built-in cabinetry, wood finishes, French-style doors, and natural woodwork. The current layout includes multiple rental units, though the property requires significant updating and restoration. A partially finished attic, basement, porch, and large barn add usable space and flexibility. Interior features include gas cooking appliances, a refrigerator, vinyl and carpet flooring, and natural-gas baseboard and hot-water heating.
The property is served by public water and a septic tank. Exterior improvements include vinyl and wood siding, metal and asphalt roofing, and both dirt and gravel driveway surfaces. The barn provides substantial storage space, while the acreage and existing improvements support continued multifamily use or a restoration-focused redevelopment plan.
The property is served by public water and a septic tank. Exterior improvements include vinyl and wood siding, metal and asphalt roofing, and both dirt and gravel driveway surfaces. The barn provides substantial storage space, while the acreage and existing improvements support continued multifamily use or a restoration-focused redevelopment plan.
Key Highlights
- 30.81‑acre apartment property with a 3,272‑square‑foot building
- Built in 1850 with built‑ins, wood finishes, French‑style doors, and natural woodwork
- Large barn provides additional storage space
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
$25,101
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
6.78%
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%
$502,020
$502.0K
Cap Rate 7%
$358,586
$358.6K
Cap Rate 9%
$278,900
$278.9K
Market Conditions
NOI Build-Up for 3,272 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
$48.3K $14.76/SF
− Vacancy
−$2.7K −$0.81/SF
EGI
$45.6K $13.95/SF
− OpEx
−$20.5K −$6.28/SF
NOI
$25.1K $7.67/SF
Area
Oswego County, NY
Vacancy
5.50%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
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%
$502,020
Cap Rate 7%
$358,586
Cap Rate 9%
$278,900
Alternative Uses
Best Use
Apartment 5plus
$358.6K
$313.8K – $418.4K
NOI $25,101 @ 7.0% cap · market cap 6.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$652.6K
$571.1K – $761.4K
NOI $45,684 @ 7.0% cap · market cap 12.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Explore this area
Business Placement
Demographics for 13145, NY
1,793
Population
1,063
Households
1.7
Avg Household Size
44
Median Age
22%
College-Educated
88%
High-School Grad
15.6 sq mi
ZIP Area
115
Density / Sq Mi
$50,238
Median Household Income
$40,078
Median Earnings
$781
Median Rent
$138,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Historic farmhouse conversion with a barn, porch, and original woodwork across a substantial acreage.
Where is this apartment building located?
The property is located at 6188 N Main Street Sandy Creek, NY.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: 30.81‑acre apartment property with a 3,272‑square‑foot building; Built in 1850 with built‑ins, wood finishes, French‑style doors, and natural woodwork; Large barn provides additional storage space
