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    Two-Unit Home in Beekmantown Title is generated by Realmo AI

    182 Spellman Road, Plattsburgh, NY 12901

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    Pending
    $256,900

    MULTI_FAMILY - Ranch - Plattsburgh, NY

    Type:Single Family Residence
    Property size:
    1,887 SF
    Lot size:
    0.87 Acres
    Added:
    Mar 18, 2026
    Days on Market:
    67
    Last Refresh:
    May 23 at 12:06 am

    Property Features for 182 Spellman Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Zoning
    Residential
    Rooms
    Laundry Room
    Parking
    4
    Parking features
    Off Street, Driveway
    Spa
    1
    Window features
    Screens, Double Pane Windows, Drapes
    Patio and Porch features
    Deck
    Interior features
    Breakfast Bar, Eat-in Kitchen, High Speed Internet, Kitchen Island
    Exterior features
    Lighting, Private Yard, Rain Gutters
    Appliances
    Dishwasher, Dryer, Electric Oven, Electric Water Heater, Free-Standing Electric Range, Free-Standing Refrigerator, Microwave, Oil Water Heater, Refrigerator, Washer, Washer/Dryer, Water Heater, Water Softener, Water Softener Owned
    Standard status
    Pending
    APN
    152.-2-22
    Size
    1,887 SF
    Lot size
    0.87 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3742

    Utilities

    Utilities
    Cable Available
    Sewer type
    Septic Tank
    Heating system
    Kerosene
    Water source
    Well

    Building Details

    Year built
    1950
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Carpet, Tile, Wood, Tile - Ceramic
    Building materials
    Vinyl Siding
    Roof type
    Asphalt
    Architectural style
    Ranch
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Theresa R Hayden

    Listing agent Theresa R Hayden

    Listing office R New York NY

    Listing date Mar 18, 2026

    MLS# 206742 Listing URL

    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.

    HighLights

    • Two‑unit home ideal for owner‑occupants or investors, offering income potential.
    • Located in the highly regarded Beekmantown School District.
    • First unit: 2 bedrooms (convertible to 3), 1 bathroom, washer/dryer included.
    • Second unit: 1 bedroom, 1 bathroom, separate entrance for privacy.
    • Well‑maintained property in excellent condition.
    • Includes desirable features such as a deck, private yard, and modern appliances (dishwasher, microwave, etc.).

    Overview

    This freshly painted two-unit home is located in the Beekmantown School District. The first unit features 2 bedrooms, with the flexibility to create a 3rd, and 1 bathroom, and includes a washer and dryer. The second unit offers 1 bedroom and 1 bathroom, providing a private living space. Both units have separate entrances. The property is suitable for either an owner-occupant or an investor. The lot size is 0.87 acres, and the property size is 1887 square feet. The zoning is residential. The property is located in Plattsburgh, NY.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $179.0K
    NOI $16,111 @ 9.00% cap · cautious / downside scenario
    Moderate
    $230.2K
    NOI $16,111 @ 7.00% cap · market / base-case scenario
    Aggressive
    $322.2K
    NOI $16,111 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $24.9k $13.20
    − Vacancy −$1.9k −$1.00
    EGI $23.0k $12.20
    − OpEx −$6.9k −$3.66
    NOI $16.1k $8.54
    1,887 SF · lease $13.20/SF/yr · vacancy 7.60% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $230.2K
    $201.4K – $268.5K (±1% cap)
    NOI $16,111 @ 7.0% cap · market cap 6.27%
    Second Best
    Apartment 5plus
    $204.6K
    $179.0K – $238.7K (±1% cap)
    NOI $14,322 @ 7.0% cap · market cap 5.57%
    Theoretical Best
    Office A
    $520.2K
    $455.2K – $606.9K (±1% cap)
    NOI $36,412 @ 7.0% cap · market cap 14.17%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Building Supply Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Storage Facility Bar & Pub Electrical Service Wine and Liquor Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Plattsburgh
    County
    Clinton
    State
    New York
    Longitude
    -73.443641
    Latitude
    44.780323

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    FAQs

    What type of property is this?
    Duplex - Two-unit home in excellent condition with income potential.
    Where is this duplex located?
    The property is located at 182 Spellman Road Plattsburgh, NY.
    What is the asking price?
    The asking price for this property is $256,900.
    What are key features of this property?
    This property features: Two‑unit home ideal for owner‑occupants or investors, offering income potential.; Located in the highly regarded Beekmantown School District.; First unit: **2 bedrooms (convertible to 3), 1 bathroom, washer/dryer included.**
    (518) 258-0600
    We can help!
    Listing Contact
    Theresa R Hayden
    Request Owner's contact information
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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.

    More about this property
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