Recreational Cabin on Bordering State
For Sale
Under Contract
$64,900
12860 Aldrich Settlement Road, Natural Bridge, NY 13665
Land, Natural Bridge, NY
Property Size576 SF
Lot Size1.20 Acres
Price / SF$112.67
Days on Market110
Property Features for 12860 Aldrich Settlement Road
General Information
Property type
Land
Property subtype
Other
Parking features
Garage
Vegetation
Wooded
Patio and Porch features
Porch
Interior features
Furnished
Exterior features
DirtDriveway
Fireplace
1
Appliances
Freezer, GasOven, GasRange, Refrigerator
Subdivision
Town/Diana
Lot features
Adjacent To Public Land, Irregular Lot, Rural Lot, Wooded
Elementary school district
Harrisville
Middle school district
Harrisville
High school district
Harrisville
Directions
Coming from Carthage, take Rte. 3 into Natural Bridge. Turn right onto Depot St. Take another right onto Aldrich Settlement Rd. Veer right when you come to the "V" and the property will be on the left.
Standard status
Active Under Contract
APN
232400-051-000-0001-013-000-0000
Size
576 SF
Lot size
1.20 Acres
Taxes and HOA fees
Tax Annual Amount
427
Building Details
Year built
2001
Floors in Building
1
Building materials
WoodSiding
Roof type
Metal
Architectural style
Cottage
Listing Agency:
TLC Real Estate LLC - Carthage
(315) 493-1111
Listed By:
Megan Cronk · License #10401383184
(315) 783-6455
Added: Jun 5
Changed: Aug 19
Last Checked: Sep 22 at 4:06PM
MLS# S1687283
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 for-sale recreational property includes a cozy 2-bedroom cabin on 1.2 acres, fully furnished and sold AS-IS. Rebuilt in 2004, the cabin has insulation in the floors, walls, and ceilings, and is heated by a wood stove. One bedroom has fresh drywall ready for paint, while the second is prepped for new flooring, giving the interior a flexible finish plan. Additional improvements include a woodshed and an outhouse, and there is no indoor bathroom.
The property borders state land on three sides, creating a private, wooded setting suitable for outdoor use. It is located within the Harrisville School District.
Buyers should note the cabin’s straightforward configuration and the current interior readiness, including the materials identified for finishing in both bedrooms.
The property borders state land on three sides, creating a private, wooded setting suitable for outdoor use. It is located within the Harrisville School District.
Buyers should note the cabin’s straightforward configuration and the current interior readiness, including the materials identified for finishing in both bedrooms.
Key Highlights
- Cozy 2‑bedroom cabin built in 2001 on 1.2 acres, bordering state land on three sides
- Insulation in floors, walls, and ceilings; wood stove for heating
- No indoor bathroom; includes woodshed and outhouse
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
$4,243
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
6.54%
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%
$84,860
$84.9K
Cap Rate 7%
$60,614
$60.6K
Cap Rate 9%
$47,144
$47.1K
Market Conditions
NOI Build-Up for 576 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
$8.3K $14.40/SF
− Vacancy
−$581 −$1.01/SF
EGI
$7.7K $13.39/SF
− OpEx
−$3.5K −$6.03/SF
NOI
$4.2K $7.37/SF
Area
Jefferson County, NY
Vacancy
7.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
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%
$84,860
Cap Rate 7%
$60,614
Cap Rate 9%
$47,144
Alternative Uses
Best Use
Apartment 5plus
$60.6K
$53.0K – $70.7K
NOI $4,243 @ 7.0% cap · market cap 6.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$158.8K
$138.9K – $185.2K
NOI $11,114 @ 7.0% cap · market cap 17.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Demographics for 13665, NY
895
Population
345
Households
2.6
Avg Household Size
41
Median Age
10%
College-Educated
90%
High-School Grad
36.0 sq mi
ZIP Area
25
Density / Sq Mi
$59,625
Median Household Income
$41,417
Median Earnings
$142,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Hunting land - Cozy 2-bedroom cabin on 1.2 acres, bordering state land on three sides and offered fully furnished AS-IS.
Where is this hunting land located?
The property is located at 12860 Aldrich Settlement Road Natural Bridge, NY.
What is the asking price?
The asking price for this property is $64,900.
What are key features of this property?
This property features: Cozy 2‑bedroom cabin built in 2001 on 1.2 acres, bordering state land on three sides; Insulation in floors, walls, and ceilings; wood stove for heating; No indoor bathroom; includes woodshed and outhouse
