Ranch Duplex with Private
New
For Sale
$165,000
85 Main Mill Street, Plattsburgh, NY 12901
Residential Income, Plattsburgh, NY
Property Size1,440 SF
Lot Size0.09 Acres
Price / SF$114.58
Days on Market1
Property Features for 85 Main Mill Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Laundry Room
Parking features
Driveway
Patio and Porch features
Deck
Interior features
Cathedral Ceiling(s), Ceiling Fan(s), Natural Woodwork
Exterior features
Private Yard, Storage
Fencing
Privacy
Basement
Finished
Appliances
Cooktop, Dryer, Electric Range, Refrigerator, Washer
View
City
Elementary school district
Plattsburgh
Middle school district
Plattsburgh
High school district
Plattsburgh
Directions
Take I-87 North to exit 36. Head north on NY-22/U.S. 9 N right off the exit ramp. Continue straight to follow NY-22 N as it heads toward the downtown area. Turn right onto South Catherine Street. Turn left onto Main Mill. The house will be on your left. It is behind 83 Main Mill.
Subdivision
City of Plattsburgh
Standard status
Active
APN
221.18-1-8
Size
1,440 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
3064
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Ceiling Fan(s)
Water source
Public
Building Details
Year built
2005
Floors in Building
1
Number of units
2
Flooring type
Tile, Laminate
Building materials
Wood Siding
Roof type
Metal
Architectural style
Ranch
Additional Structures
Storage
Listing Agency:
REMAX North Country
(518) 563-1200
Listed By:
Kira Witherwax · License #10301214853
(518) 570-7574
Added: Sep 2
Last Checked: Sep 2 at 3:06PM
MLS# 208312
Copyright © 2026 Adirondack Champlain Valley MLS. 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 2005 ranch-style duplex in Plattsburgh, NY, provides 1440 square feet across two residential units. The property includes natural woodwork, cathedral ceilings, ceiling fans, tile and laminate flooring, and a dedicated laundry room. A kitchen appliance package includes a cooktop, electric range, refrigerator, washer, and dryer. Electric heating serves the building, while wood siding and a metal roof complete the exterior.
Set on 0.09 acres at 85 Main Mill Street, the property sits on a dead-end street in the City of Plattsburgh. Exterior features include a private yard, storage, privacy fencing, and a deck. Public water and public sewer are in place, with driveway parking available on site.
Set on 0.09 acres at 85 Main Mill Street, the property sits on a dead-end street in the City of Plattsburgh. Exterior features include a private yard, storage, privacy fencing, and a deck. Public water and public sewer are in place, with driveway parking available on site.
Key Highlights
- Duplex with 1440 square feet of property size
- Built in 2005 with ranch architectural style
- Located on 0.09 acres at 85 Main Mill Street, Plattsburgh, NY 12901
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
$12,294
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
7.45%
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%
$245,880
$245.9K
Cap Rate 7%
$175,629
$175.6K
Cap Rate 9%
$136,600
$136.6K
Market Conditions
NOI Build-Up for 1,440 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
$19.0K $13.20/SF
− Vacancy
−$1.4K −$1.00/SF
EGI
$17.6K $12.20/SF
− OpEx
−$5.3K −$3.66/SF
NOI
$12.3K $8.54/SF
Area
Clinton County, NY
Vacancy
7.60%
Lease Rate
$13.20 /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%
$245,880
Cap Rate 7%
$175,629
Cap Rate 9%
$136,600
Alternative Uses
Best Use
Multifamily LT 5
$175.6K
$153.7K – $204.9K
NOI $12,294 @ 7.0% cap · market cap 7.45%
Second Best
Apartment 5plus
$156.1K
$136.6K – $182.2K
NOI $10,930 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$396.9K
$347.3K – $463.1K
NOI $27,786 @ 7.0% cap · market cap 16.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
126
Businesses Nearby
Explore this area
Business Placement
Demographics for 12901, NY
32,147
Population
15,426
Households
2.1
Avg Household Size
38
Median Age
33%
College-Educated
89%
High-School Grad
70.6 sq mi
ZIP Area
455
Density / Sq Mi
$59,413
Median Household Income
$35,385
Median Earnings
$957
Median Rent
$182,100
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-unit property with public water, public sewer, driveway parking, and a deck.
Where is this duplex located?
The property is located at 85 Main Mill Street Plattsburgh, NY.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Duplex with 1440 square feet of property size; Built in 2005 with ranch architectural style; Located on 0.09 acres at 85 Main Mill Street, Plattsburgh, NY 12901
