Side-by-Side Duplex With Large
For Sale
$229,900
8337 S Main Street, Evans Mills, NY 13637
Side-by-side duplex with two separate electric services, a recently updated first-floor bathroom, and a large yard for multi-unit use.
Property Size1,860 SF
Days on Market27
Property Features for 8337 S Main Street
General Information
Standard status
Active
Size
1,860 SF
Property subtype
Multi Family Home
Taxes and HOA fees
Annual Taxes
$2,723
Building Details
Building Size
1,860 SF
Year Built
1830
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Bridgeview Real Estate
(315) 782-9292
Listed By:
Jennifer L Flynn · License #10491211015
Source:
Wcirealty
Added: Jul 28
Changed: Aug 23
Last Checked: Aug 22 at 10:50AM
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 Bridgeview Real Estate
Investment Insights
Based on property information with market context.
This side-by-side duplex provides flexible living and income potential with two separate units under one roof. The first unit features three bedrooms and two full bathrooms, and the second unit offers two bedrooms and one full bathroom. The home also includes a recently updated first-floor bathroom and a two-story layout with separation between the units.
The property is set up for multi-unit convenience with two separate electrical meters and panels. A large yard adds outdoor space, and the home has a strong rental history. BikeScore is 30 (somewhat bikeable) and walkScore is 38 (car-dependent).
Built in 1830, the duplex is currently configured as a duplex and could also be converted into a single-family residence if desired, depending on a buyer’s plans for the property. Convenient to Evans Mills Elementary School and Fort Drum’s Main Gate, as well as the airfield and local shopping and dining, it offers a practical location for owner-occupants and tenants alike.
The property is set up for multi-unit convenience with two separate electrical meters and panels. A large yard adds outdoor space, and the home has a strong rental history. BikeScore is 30 (somewhat bikeable) and walkScore is 38 (car-dependent).
Built in 1830, the duplex is currently configured as a duplex and could also be converted into a single-family residence if desired, depending on a buyer’s plans for the property. Convenient to Evans Mills Elementary School and Fort Drum’s Main Gate, as well as the airfield and local shopping and dining, it offers a practical location for owner-occupants and tenants alike.
Key Highlights
- Side‑by‑side duplex layout with separation between units
- Two separate electrical meters and panels for multi‑unit use
- Recently updated first‑floor bathroom
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
$15,314
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
6.66%
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%
$306,280
$306.3K
Cap Rate 7%
$218,771
$218.8K
Cap Rate 9%
$170,156
$170.2K
Market Conditions
NOI Build-Up for 1,860 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
$23.4K $12.60/SF
− Vacancy
−$1.6K −$0.84/SF
EGI
$21.9K $11.76/SF
− OpEx
−$6.6K −$3.53/SF
NOI
$15.3K $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%
$306,280
Cap Rate 7%
$218,771
Cap Rate 9%
$170,156
Alternative Uses
Best Use
Multifamily LT 5
$218.8K
$191.4K – $255.2K
NOI $15,314 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$195.7K
$171.3K – $228.3K
NOI $13,700 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$512.7K
$448.6K – $598.2K
NOI $35,891 @ 7.0% cap · market cap 15.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
57
Businesses Nearby
Explore this area
Business Placement
Demographics for 13637, NY
4,980
Population
2,491
Households
2
Avg Household Size
27
Median Age
19%
College-Educated
95%
High-School Grad
35.2 sq mi
ZIP Area
141
Density / Sq Mi
$62,786
Median Household Income
$36,867
Median Earnings
$1,318
Median Rent
$189,600
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 - Side-by-side duplex with two separate electric services, a recently updated first-floor bathroom, and a large yard for multi-unit use.
Where is this duplex located?
The property is located at 8337 S Main Street Evans Mills, NY.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Side‑by‑side duplex layout with separation between units; Two separate electrical meters and panels for multi‑unit use; Recently updated first‑floor bathroom
