Tenant-Occupied
For Sale
$239,000
7 N Jefferson Street, Carthage, NY 13619
Residential, Carthage, NY
Property Size2,569 SF
Lot Size0.18 Acres
Price / SF$93.03
Days on Market35
Property Features for 7 N Jefferson Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bathroom 3, Basement, Bedroom 2, Bathroom 1, Bathroom 4, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 6, Bedroom 5, Bedroom 4
Appliances
GasWaterHeater
Subdivision
West Carthage
Lot features
Corner Lot, Rectangular, Rectangular Lot
Elementary school district
Carthage
Middle school district
Carthage
High school district
Carthage
Standard status
Active
APN
223001-086-048-0001-058-000
Size
2,569 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
4008
Utilities
Heating system
Baseboard, Natural Gas
Water source
Public
Amenities
off-street parking
laundry area
Building Details
Year built
1880
Floors in Building
2
Number of units
2
Flooring type
Varies, Carpet, Vinyl, Hardwood
Building materials
WoodSiding
Listing Agency:
TLC Real Estate LLC - Carthage
(315) 493-1111
Listed By:
LuAnn Twombly · License #10401286142
(315) 783-6455
Added: Aug 16
Changed: Sep 16
Last Checked: Sep 19 at 8:06PM
MLS# S1707383
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.
This two-unit residential property contains 2,569 square feet on a 0.1815-acre corner lot and was built in 1880. Both units are tenant occupied. The larger residence includes a kitchen, formal dining room, half bath, living room, three bedrooms, an additional full bath, and laundry space. The second unit provides a living room, eat-in kitchen, full bath, three bedrooms, and basement laundry access.
Natural gas baseboard heating serves the property, while each unit has separate electric, gas, and water meters. The building has wood siding, public water service, and a mix of hardwood, carpet, and vinyl flooring. Off-street parking is located on the corner parcel at 7 N Jefferson Street in West Carthage, New York.
Natural gas baseboard heating serves the property, while each unit has separate electric, gas, and water meters. The building has wood siding, public water service, and a mix of hardwood, carpet, and vinyl flooring. Off-street parking is located on the corner parcel at 7 N Jefferson Street in West Carthage, New York.
Key Highlights
- Both units are tenant occupied
- 2,569 square feet on a 0.1815‑acre corner lot
- Separate electric, gas, and water meters for each unit
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
$21,152
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
8.85%
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%
$423,040
$423.0K
Cap Rate 7%
$302,171
$302.2K
Cap Rate 9%
$235,022
$235.0K
Market Conditions
NOI Build-Up for 2,569 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
$32.4K $12.60/SF
− Vacancy
−$2.2K −$0.84/SF
EGI
$30.2K $11.76/SF
− OpEx
−$9.1K −$3.53/SF
NOI
$21.2K $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%
$423,040
Cap Rate 7%
$302,171
Cap Rate 9%
$235,022
Alternative Uses
Best Use
Multifamily LT 5
$302.2K
$264.4K – $352.5K
NOI $21,152 @ 7.0% cap · market cap 8.85%
Second Best
Apartment 5plus
$270.3K
$236.5K – $315.4K
NOI $18,922 @ 7.0% cap · market cap 7.92%
Theoretical Best
Office A
$708.2K
$619.6K – $826.2K
NOI $49,571 @ 7.0% cap · market cap 20.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
350
Businesses Nearby
Explore this area
Business Placement
Demographics for 13619, NY
10,600
Population
4,649
Households
2.3
Avg Household Size
38
Median Age
19%
College-Educated
87%
High-School Grad
112.7 sq mi
ZIP Area
94
Density / Sq Mi
$63,549
Median Household Income
$44,792
Median Earnings
$984
Median Rent
$171,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two occupied residential units offer separate utility metering, natural gas heat, and off-street parking on a corner lot.
Where is this duplex located?
The property is located at 7 N Jefferson Street Carthage, NY.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Both units are tenant occupied; 2,569 square feet on a 0.1815‑acre corner lot; Separate electric, gas, and water meters for each unit
