Maintained Duplex with
For Sale
$234,900
632 Hillcrest Ave, Watertown, NY 13601
Owner-occupant duplex with updated interiors, dedicated outdoor areas, ample parking, and a separate garage.
Property Size1,745 SF
Price / SF$134.61
Days on Market19
Property Features for 632 Hillcrest Ave
General Information
Standard status
Active
Size
1,745 SF
Property subtype
Multi-Family
Building Details
Year Built
1986
Listing Agency:
Lake Ontario Realty, LLC
(315) 771-8464
Listed By:
Stephanie Eiss · License #10401395919
Source:
Skinnercnyrealty
Added: Aug 12
Changed: Aug 29
Last Checked: Aug 29 at 5:46PM
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
Investment Insights
Based on property information with market context.
Built in 1986, this duplex provides two distinct living spaces with a practical mix of private and shared improvements. The larger unit contains three bedrooms, one bathroom, a generous living room, eat-in kitchen, stackable laundry, multiple flooring finishes, and a stamped concrete patio. The second unit offers one bedroom, one bathroom, a living area, eat-in kitchen, mixed vinyl plank and laminate flooring, and a private patio accessed through a sliding glass door.
The property includes public water, a large driveway and parking area, a spacious backyard, and a separate garage. The duplex and garage occupy two separate land parcels. Located at 632 Hillcrest Ave in Watertown, the property is near restaurants and shopping while situated on a dead-end street.
The property includes public water, a large driveway and parking area, a spacious backyard, and a separate garage. The duplex and garage occupy two separate land parcels. Located at 632 Hillcrest Ave in Watertown, the property is near restaurants and shopping while situated on a dead-end street.
Key Highlights
- Two‑unit duplex with 3‑bedroom and 1‑bedroom floor plans
- Built in 1986 with upgrades to both units
- Separate garage, large driveway, and parking area
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
$14,367
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
6.12%
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%
$287,340
$287.3K
Cap Rate 7%
$205,243
$205.2K
Cap Rate 9%
$159,633
$159.6K
Market Conditions
NOI Build-Up for 1,745 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
$22.0K $12.60/SF
− Vacancy
−$1.5K −$0.84/SF
EGI
$20.5K $11.76/SF
− OpEx
−$6.2K −$3.53/SF
NOI
$14.4K $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%
$287,340
Cap Rate 7%
$205,243
Cap Rate 9%
$159,633
Alternative Uses
Best Use
Multifamily LT 5
$205.2K
$179.6K – $239.5K
NOI $14,367 @ 7.0% cap · market cap 6.12%
Second Best
Apartment 5plus
$183.6K
$160.7K – $214.2K
NOI $12,853 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$481.0K
$420.9K – $561.2K
NOI $33,672 @ 7.0% cap · market cap 14.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
153
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Owner-occupant duplex with updated interiors, dedicated outdoor areas, ample parking, and a separate garage.
Where is this duplex located?
The property is located at 632 Hillcrest Ave Watertown, NY.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: Two‑unit duplex with 3‑bedroom and 1‑bedroom floor plans; Built in 1986 with upgrades to both units; Separate garage, large driveway, and parking area
