Remodeled Quadplex with Basement
For Sale
$185,000
700 State Street, Ogdensburg, NY 13669
MULTIFAMILY, 2 Story, Ogdensburg, NY
Property Size2,560 SF
Price / SF$72.27
Days on Market138
Property Features for 700 State Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 3, Bedroom 2, Bathroom 4, Bathroom 2
Exterior features
Outdoor lights
Lot features
A corner lot
Directions
State Street Ogdensburg
Subdivision
ST LAWRENCE
Standard status
Active
APN
48.079-12-1
Size
2,560 SF
Taxes and HOA fees
Tax Annual Amount
5415
Utilities
Utilities
Cable Available
Water source
Public
Building Details
Year built
1874
Floors in Building
2
Number of units
4
Flooring type
Vinyl, Tile - Ceramic, Carpet, Laminate
Building materials
Brick accent, Vinyl siding
Roof type
Metal
Architectural style
Other
Listing Agency:
River Run Realty, LLC
(315) 323-2241
Listed By:
Deborah Polniak · License #40PO1137191
(315) 276-9144
Added: May 20
Changed: Sep 25
Last Checked: Oct 4 at 6:06PM
MLS# 52766
Copyright © 2026 St. Lawrence Board of Realtors. 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-story quadplex in Ogdensburg contains four remodeled apartments within 2,560 square feet. Each unit includes a washer, dryer, and appliances, while updated windows and vinyl siding complement the brick accents. A full, dry basement provides separate storage areas for the apartments and has an exterior entrance. Off-street parking and outdoor lighting serve the property.
The building sits at 700 State Street in Ogdensburg, NY 13669. It was built in 1874 and has a metal roof that is three years old. The water heater and boiler were replaced in February 2015. Public water serves the property, and cable is available. Tenants occupy the apartments on month-to-month arrangements and pay their own electric; a separate meter supplies hallway and exterior lighting.
The building sits at 700 State Street in Ogdensburg, NY 13669. It was built in 1874 and has a metal roof that is three years old. The water heater and boiler were replaced in February 2015. Public water serves the property, and cable is available. Tenants occupy the apartments on month-to-month arrangements and pay their own electric; a separate meter supplies hallway and exterior lighting.
Key Highlights
- Four remodeled apartment units within 2,560 square feet
- Full, dry basement with storage areas for each apartment and an exterior entrance
- Metal roof is three years old
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
$13,081
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
7.07%
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%
$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
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
$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 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%
$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.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
467
Businesses Nearby
Explore this area
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Four spacious units include appliances, laundry equipment, and access to dedicated basement storage.
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 apartment units within 2,560 square feet; Full, dry basement with storage areas for each apartment and an exterior entrance; Metal roof is three years old
