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    Victorian Farmhouse with Income Potential Title is generated by Realmo AI

    213 Main St, Richfield Springs, NY 13439

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    For Sale
    $379,000

    Multi-Unit (2-4), Bungalow - Richfield Springs, NY

    Property size:
    3,026 SF
    Lot size:
    0.10 Acres
    Price / SF:
    $125/SF
    Added:
    Jan 15, 2026
    Days on Market:
    122
    Last Refresh:
    May 17 at 3:06 am

    Property Features for 213 Main St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    4
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Kitchen
    Parking features
    Garage
    Basement Y/N
    1
    Standard status
    Active
    APN
    365001-115.018-0001-001.000
    Size
    3,026 SF
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1918
    Year renovated
    1918
    Architectural style
    Bungalow

    We can help!

    Listing Contact
    Linda Flynn

    Listing agent Linda Flynn

    Listing office Keller Williams Upstate NY Properties 218 MAIN ST, COOPERSTOWN, NY

    Listing date Jan 15, 2026

    MLS# 11608931 Listing URL

    Copyright © 2026 My State 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

    • Separate one‑bedroom apartment provides flexibility for guests, family, or rental income.
    • Convenient village location near shops, dining, and Cooperstown.
    • Historic Victorian farmhouse with modern updates, including energy‑efficient heating and multi‑zone central air conditioning.
    • Generous gathering spaces and formal dining room.
    • Large lot (over half an acre) within the village.
    • Historically favored by Glimmerglass Opera visitors.

    Overview

    Located on Main Street in Richfield Springs, New York, a short drive from Cooperstown, this property at 213 Main Street offers a retreat. The home, built in 1861, has had only four owners. The property combines the character of a Victorian farmhouse with the convenience of village living. The main residence functions as a single-family home, featuring gathering spaces, a formal dining room, and living areas. A separate one-bedroom apartment provides flexibility for hosting guests, accommodating family, or generating rental income. Modern updates include energy-efficient heating and multi-zone central air conditioning. The property has a history of hosting Glimmerglass Opera visitors. Situated on over a half-acre within the village, the property is close to shops, dining, and conveniences. The property is suitable for quiet weekends, summer evenings after Opera performances, or as a flexible living space.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $293.6K
    NOI $26,422 @ 9.00% cap · cautious / downside scenario
    Moderate
    $377.5K
    NOI $26,422 @ 7.00% cap · market / base-case scenario
    Aggressive
    $528.4K
    NOI $26,422 @ 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 $39.9k $13.20
    − Vacancy −$2.2k −$0.73
    EGI $37.7k $12.47
    − OpEx −$11.3k −$3.74
    NOI $26.4k $8.73
    3,026 SF · lease $13.20/SF/yr · vacancy 5.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $377.5K
    $330.3K – $440.4K (±1% cap)
    NOI $26,422 @ 7.0% cap · market cap 6.97%
    Second Best
    Apartment 5plus
    $352.4K
    $308.3K – $411.1K (±1% cap)
    NOI $24,665 @ 7.0% cap · market cap 6.51%
    Theoretical Best
    Office A
    $834.1K
    $729.9K – $973.2K (±1% cap)
    NOI $58,390 @ 7.0% cap · market cap 15.41%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Pharmacy Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Richfield Springs
    County
    Otsego
    State
    New York
    Longitude
    -74.978661
    Latitude
    42.852926

    Nearby Similar for Sale

    • $259,900
      3,151 SF

      Historic Multifamily Home with Income

      Spacious 6-bedroom home near Canadarago Lake and Cooperstown.
      40 Church Street, Richfield Springs, NY 13439
      View Details
    • $425,000

      Richfield Springs MHP Portfolio

      Portfolio with mobile homes, lots, and stick-built home.
      41 Center St, Richfield Springs, NY
      View Details
    • $127,500
      2,474 SF

      Richfield Springs Multifamily Property

      Multifamily property in Richfield Springs with two units.
      17 W James Street, Richfield Springs, NY 13439
      View Details

    FAQs

    What type of property is this?
    Duplex - Charming Victorian farmhouse in Richfield Springs with rental income potential.
    Where is this duplex located?
    The property is located at 213 Main St Richfield Springs, NY.
    What is the asking price?
    The asking price for this property is $379,000.
    What are key features of this property?
    This property features: Separate one‑bedroom apartment provides flexibility for guests, family, or rental income.; Convenient village location near shops, dining, and Cooperstown.; **Historic Victorian farmhouse with modern updates, including energy‑efficient heating and multi‑zone central air conditioning.**
    (607) 435-0014
    We can help!
    Listing Contact
    Linda Flynn
    Real Estate License ID: 10401360399
    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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