Mixed-Use Property with Apartment and
For Sale
Under Contract
$399,000
1950-1958 Ulster Avenue, Lake Katrine, NY 12449
MULTI_FAMILY - Lake Katrine, NY
Property Size1,874 SF
Lot Size0.95 Acres
Price / SF$212.91
Days on Market110
Property Features for 1950-1958 Ulster Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
35
Bedrooms
4
Rooms
Bedroom 1, Bedroom 3, Bedroom 2, Bedroom 4
Parking features
Off Street, On Street
Patio and Porch features
Porch
Lot features
Back Yard, Front Yard
Elementary school district
Kingston Consolidated
Middle school district
Kingston Consolidated
High school district
Kingston Consolidated
Directions
9w North towards Saugerties, across from Angelas pizza
Subdivision
Ulster-Town Of
Standard status
Active Under Contract
APN
39.16-1-25
Size
1,874 SF
Lot size
0.95 Acres
Taxes and HOA fees
Tax Annual Amount
11818
Utilities
Sewer type
Public Sewer
Heating system
Oil
Water source
Public
Building Details
Year built
1934
Floors in Building
2
Number of units
3
Flooring type
Linoleum, Carpet, Hardwood, Combination
Roof type
Asbestos Shingle
Listing Agency:
Coldwell Banker Village Green · Coldwell Banker Real Estate
(845) 679-2255
Listed By:
Nicole Polito
(845) 430-2045
Added: Apr 22
Changed: Aug 2
Last Checked: Aug 9 at 2:06AM
MLS# 20261785
Copyright © 2026 Hudson Valley Catskill Region 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.
1950-1958 Ulster Avenue, Lake Katrine, NY presents a mixed-use setup with a ground-floor commercial unit and residential space above, plus a separate two-bedroom, one-bath cottage on an adjoining parcel. The main building includes a bright, light-filled ground-floor commercial space, and a two-bedroom apartment with a generous living room and dining room, along with additional third-floor space suited for a home office, studio, or extra storage.
The cottage features an enclosed front sunporch, a covered rear deck, and an updated interior with a spacious kitchen and dining area. Parking is available both on street and off street, with additional parking noted for the cottage.
Set on 0.95 acres, the property totals 1,874 square feet and was built in 1934. Public water and public sewer service support the site, and heating is provided by oil. The roof is listed as asbestos shingle, and flooring includes carpet, linoleum, combination materials, and hardwood. Zoning is indicated as 35.
The cottage features an enclosed front sunporch, a covered rear deck, and an updated interior with a spacious kitchen and dining area. Parking is available both on street and off street, with additional parking noted for the cottage.
Set on 0.95 acres, the property totals 1,874 square feet and was built in 1934. Public water and public sewer service support the site, and heating is provided by oil. The roof is listed as asbestos shingle, and flooring includes carpet, linoleum, combination materials, and hardwood. Zoning is indicated as 35.
Key Highlights
- 0.95‑acre mixed‑use property with 1,874 SF total area
- Ground‑floor commercial space with two‑bedroom apartment above
- Additional two‑bedroom, one‑bath cottage on an adjoining parcel
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
$22,314
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
5.59%
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%
$446,280
$446.3K
Cap Rate 7%
$318,771
$318.8K
Cap Rate 9%
$247,933
$247.9K
Market Conditions
NOI Build-Up for 1,874 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
$33.7K $18.00/SF
− Vacancy
−$1.9K −$0.99/SF
EGI
$31.9K $17.01/SF
− OpEx
−$9.6K −$5.10/SF
NOI
$22.3K $11.91/SF
Area
Ulster County, NY
Vacancy
5.50%
Lease Rate
$18.00 /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%
$446,280
Cap Rate 7%
$318,771
Cap Rate 9%
$247,933
Alternative Uses
Best Use
Office B
$525.9K
$460.1K – $613.5K
NOI $36,810 @ 7.0% cap · market cap 9.23%
Second Best
Retail
$318.8K
$278.9K – $371.9K
NOI $22,314 @ 7.0% cap · market cap 5.59%
Theoretical Best
Multifamily LT 5
$17.53M
$15.33M – $20.45M
NOI $1,226,764 @ 7.0% cap · market cap 307.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
139
Businesses Nearby
Explore this area
Business Placement
Demographics for 12449, NY
3,386
Population
1,194
Households
2.8
Avg Household Size
49
Median Age
28%
College-Educated
90%
High-School Grad
3.7 sq mi
ZIP Area
915
Density / Sq Mi
$75,268
Median Household Income
$53,472
Median Earnings
$1,571
Median Rent
$226,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial space with an upstairs two-bedroom apartment plus an additional two-bedroom, one-bath cottage on 0.95 acres.
Where is this mixed-use property located?
The property is located at 1950-1958 Ulster Avenue Lake Katrine, NY.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 0.95‑acre mixed‑use property with 1,874 SF total area; Ground‑floor commercial space with two‑bedroom apartment above; Additional two‑bedroom, one‑bath cottage on an adjoining parcel
