4-Unit Apartment
For Sale
$185,000
700 State Street, Ogdensburg, NY 13669
Four residences feature laundry equipment, included appliances, and dedicated storage space in the basement.
Property Size2,560 SF
Price / SF$72.27
Days on Market160
Property Features for 700 State Street
General Information
Standard status
Active
Size
2,560 SF
Property subtype
Multi Family Home
Units
Multifamily Units
4
Individually Metered Utilities
electricity
Additional Details
Tenant in Place
Yes
Building Details
Building Size
2,560 SF
Year Built
1874
Buildings
1
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
River Run Realty, LLC
(315) 323-2241
Listed By:
Deborah Polniak · License #40PO1137191
(315) 276-9144
Source:
Countyseatrealty
Added: May 20
Changed: Oct 23
Last Checked: Oct 23 at 5:21PM
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 River Run Realty, LLC
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Investment Insights
Based on property information with market context.
This 2,560-square-foot apartment property contains four remodeled residences, each with a washer, dryer, and appliances. The full basement provides storage areas for the apartments and has an exterior entrance. Updated windows, vinyl siding, off-street parking, and a metal roof are among the building’s features. Built in 1874, the property also has a water heater and boiler installed in February 2015.
The four tenants have occupied their apartments for 4-8 years and are on month-to-month agreements. Tenants pay their own electric service; a separate meter serves hallway and exterior lighting.
The four tenants have occupied their apartments for 4-8 years and are on month-to-month agreements. Tenants pay their own electric service; a separate meter serves hallway and exterior lighting.
Key Highlights
- Four remodeled apartments in a 2,560‑square‑foot building
- Metal roof is three years old
- Full basement with individual apartment storage areas and an exterior entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,081
Cap Rate
7.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$261,620
$261.6K
Cap Rate 7%
$186,871
$186.9K
Cap Rate 9%
$145,344
$145.3K
Market Conditions
NOI Build-Up for 2,560 SF
Gross rent
$23.7K $9.24/SF
− Vacancy
−$5.0K −$1.94/SF
EGI
$18.7K $7.30/SF
− OpEx
−$5.6K −$2.19/SF
NOI
$13.1K $5.11/SF
Area
St. Lawrence County, NY
Vacancy
21.00%
Lease Rate
$9.24 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$261,620
Cap Rate 7%
$186,871
Cap Rate 9%
$145,344
Alternative Uses
Best Use
Multifamily LT 5
$186.9K
$163.5K – $218.0K
NOI $13,081 @ 7.0% cap · market cap 7.07%
Second Best
Apartment 5plus
$171.1K
$149.7K – $199.6K
NOI $11,977 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$635.1K
$555.7K – $741.0K
NOI $44,458 @ 7.0% cap · market cap 24.03%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
467
Businesses Nearby
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Business Placement
Demographics for 13669, NY
14,990
Population
7,419
Households
2
Avg Household Size
43
Median Age
21%
College-Educated
85%
High-School Grad
101.5 sq mi
ZIP Area
148
Density / Sq Mi
$66,488
Median Household Income
$36,546
Median Earnings
$769
Median Rent
$101,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residences feature laundry equipment, included appliances, and dedicated storage space in the basement.
Where is this quadplex located?
The property is located at 700 State Street Ogdensburg, NY.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Four remodeled apartments in a 2,560‑square‑foot building; Metal roof is three years old; Full basement with individual apartment storage areas and an exterior entrance
