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    375 Blumel Rd Middletown, NY 10941

    View on Map
    Sponsored
    For Sale
    $1,590,000

    Farm / Farmhouse, Multi-Unit (2-4) - Middletown, NY

    Property size:
    5,600 SF
    Lot size:
    1.66 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 5 at 5:06 am

    Property Features for 375 Blumel Rd

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    New Construction
    Standard status
    Active
    Zoning
    600
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Bedrooms
    4
    Bathrooms
    4
    APN
    3352002411732
    Parking features
    Garage, Garage - Detached
    Appliances
    Dishwasher, Dryer, Microwave, Refrigerator, Washer
    Size
    5,600 SF
    Lot size
    1.66 Acres

    Utilities

    Heating system
    Forced Air

    Building Details

    Floors in Building
    2
    Flooring type
    Hardwood
    Building materials
    Wood Siding
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Keegan Rehill

    ZORA REI (516) 307-1340

    Listing agent Keegan Rehill (516) 307-1340

    Listing date Mar 4, 2026

    MLS# 11666953 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.

    Learn more

    Property Insight Report

    Overview

    Historic Restored Multi-Family Investment Property

    Located at 375 Blumel Road in Scotchtown, this historic multi-family investment property offers a fully restored income-producing asset in Orange County, in New York's Hudson Valley. Originally constructed in 1787 and completely renovated in 2024, the property combines historic architecture with modern upgrades. The building spans approximately 5,600 square feet and features four renovated residential units, each thoughtfully designed with updated kitchens, modern bathrooms, and high-quality finishes while preserving the character of the original structure. Situated on 1.66 acres, the property provides generous parking, open space, and attractive curb appeal while remaining conveniently located near Route 17, Interstate 84, Middletown, and major commuter routes throughout Orange County and the Hudson Valley. In addition to the residential apartments, the property includes five rentable garage units, creating an additional income stream. These conditioned garage spaces can be used for storage, hobby space, workshops, or small business uses, making them attractive to tenants seeking flexible workspace or vehicle storage. Following the extensive 2024 renovation, the property offers a turnkey opportunity for investors seeking a multi-family rental property in Orange County NY, with modernized interiors, improved systems, and strong long-term income potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Accounting Firm Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Middletown
    County
    Orange
    State
    New York
    Longitude
    -74.36022
    Latitude
    41.481183

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    FAQs

    What type of property is this?
    Quadplex - Fully renovated 4-unit property with 5 rentable garages in Scotchtown, NY.
    Where is this quadplex located?
    The property is located at 375 Blumel Rd Middletown, NY.
    What is the asking price?
    The asking price for this property is $1,590,000.
    What are key features of this property?
    This property features: - Fully renovated in 2024, offering a turnkey, income-producing multi-family property.; - Historic property (built in 1787) with modern upgrades and high-quality finishes.; - Four renovated residential units plus five rentable garage units provide multiple income streams.
    (516) 491-9053
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    375 Blumel Rd Middletown, NY 10941
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    Middletown, NY 10941
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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
    375 Blumel Rd Middletown, NY 10941
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    Listing Contact
    Keegan Rehill
    (516) 491-9053 (516) 307-1340
    Learn more
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