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    172 Main Street Cold Spring, NY 10516

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    For Sale
    $799,000

    MULTI_FAMILY - Cold Spring, NY

    Lot size:
    0.11 Acres
    Added:
    Apr 14, 2026
    Days on Market:
    24
    Last Refresh:
    May 7 at 2:06 am

    Property Features for 172 Main Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 2, Basement
    Parking features
    Driveway
    Interior features
    First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen, Entrance Foyer
    Basement
    Finished
    Standard status
    Active
    APN
    372601-048-008-0005-031-000-0000
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    17441

    Utilities

    Utilities
    Electricity Available
    Sewer type
    Public Sewer
    Heating system
    Oil, Hot Water(Heating)
    Cooling system
    Wall/Window Unit(s), Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1860
    Number of units
    2
    Building materials
    Wood Siding

    We can help!

    Listing Contact
    Jennifer M. Baukol

    Listing agent Jennifer M. Baukol

    Listing office Coldwell Banker Realty 278 Mamaroneck Ave, White Plains, NY

    Listing date Apr 14, 2026

    MLS# 961041 Listing URL

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime walk‑to‑town location near Metro‑North, shops, dining, and the Hudson River.
    • Two‑family property offering immediate income with one unit already rented.
    • Opportunity to optimize rents in the vacant unit to market rates.
    • Stable cash flow and upside potential in a high‑demand Hudson Valley area.
    • Each unit features 2 bedrooms and 1 bathroom.
    • Ideal for investors or owner‑occupants seeking to offset expenses.

    Overview

    Cold Spring Two-Family Property

    This two-family property presents an investment opportunity in Cold Spring Village. The property is well-positioned and offers immediate income, with one unit currently occupied by a long-term tenant. The second unit is available for occupancy or leasing, allowing for optimization of rents to market rates. Each unit features 2 bedrooms and 1 bathroom. The main floor unit includes a laundry room and basement access. Situated on a corner lot, the property benefits from a walk-to-town location and proximity to Metro-North, shops, dining, and the Hudson River. The location supports rental demand and low vacancy risk. The property is located in Putnam County, NY, and has a lot size of 0.1059 acres. This property is suitable for investors seeking a value-add opportunity, owner-occupants looking to offset expenses, or portfolio expansion in a high-demand Hudson Valley area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Skin Care Clinic Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cold Spring
    County
    Putnam
    State
    New York
    Longitude
    -73.955654
    Latitude
    41.419825

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    FAQs

    What type of property is this?
    Duplex - Two-family property in Cold Spring, NY with income potential.
    Where is this duplex located?
    The property is located at 172 Main Street Cold Spring, NY.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: Prime walk‑to‑town location near Metro‑North, shops, dining, and the Hudson River.; Two‑family property offering immediate income with one unit already rented.; Opportunity to optimize rents in the vacant unit to market rates.
    (914) 584-2211
    We can help!
    Listing Contact
    Jennifer M. Baukol
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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