Tenant-Occupied
New
For Sale
$255,000
7 N Jefferson Street, Carthage, NY 13619
Residential, Carthage, NY
Property Size2,569 SF
Lot Size0.18 Acres
Price / SF$99.26
Days on Market5
Property Features for 7 N Jefferson Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
3
Half bathrooms
2
Rooms
Bathroom 5, Bathroom 2, Bedroom 6, Bathroom 4, Bedroom 2, Basement, Bedroom 3, Bedroom 5, Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 1
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
Natural Gas, Baseboard
Water source
Public
Amenities
laundry area
off-street parking
Building Details
Year built
1880
Floors in Building
2
Number of units
2
Flooring type
Varies, Hardwood, Carpet, Vinyl
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: Aug 19
Last Checked: Aug 20 at 4:06AM
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 2,569-square-foot duplex contains two tenant-occupied residences within a wood-sided building constructed in 1880. The larger unit includes a kitchen, dining room, living room, half bath, laundry area, full bath, and three bedrooms. The second residence provides a living room, eat-in kitchen, full bath, three bedrooms, and basement laundry space. Hardwood, carpet, and vinyl flooring are present throughout the property.
Located at 7 N Jefferson Street in West Carthage, the property occupies a 0.1815-acre corner lot with off-street parking. Natural gas baseboard heat serves the building, while separate electric, gas, and water meters support individual utility management. Public water is available, and a gas water heater is included.
Located at 7 N Jefferson Street in West Carthage, the property occupies a 0.1815-acre corner lot with off-street parking. Natural gas baseboard heat serves the building, while separate electric, gas, and water meters support individual utility management. Public water is available, and a gas water heater is included.
Key Highlights
- Two tenant‑occupied residential units
- 2,569 square feet on a 0.1815‑acre corner lot
- Six total bedrooms across the two units
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
8.29%
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 8.29%
Second Best
Apartment 5plus
$270.3K
$236.5K – $315.4K
NOI $18,922 @ 7.0% cap · market cap 7.42%
Theoretical Best
Office A
$708.2K
$619.6K – $826.2K
NOI $49,571 @ 7.0% cap · market cap 19.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer separate utilities, off-street parking, and distinct layouts across multiple levels.
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 $255,000.
What are key features of this property?
This property features: Two tenant‑occupied residential units; 2,569 square feet on a 0.1815‑acre corner lot; Six total bedrooms across the two units
