New
For Sale
$499,000
42204 State Hwy 28, Margaretville, NY 12455
Residential, Margaretville, NY
Property Size1,664 SF
Lot Size1.02 Acres
Price / SF$299.88
Days on Market4
Property Features for 42204 State Hwy 28
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Basement, Bedroom 7, Bedroom 1, Bathroom 2, Bathroom 1, Bathroom 3, Bedroom 3, Bathroom 4, Bedroom 6, Bedroom 4, Bedroom 8, Bedroom 2, Bedroom 5
Security features
Security
Patio and Porch features
Patio
Interior features
CeilingFans, CathedralCeilings, SlidingGlassDoors, NaturalWoodwork
Exterior features
Patio, PrivateYard
Fireplace
1
Appliances
ElectricWaterHeater, OilWaterHeater
Lot features
Irregular Lot, Near Public Transit, Residential Lot
High school
Margaretville Central
Elementary school district
Margaretville
Middle school district
Margaretville
High school district
Margaretville
Directions
From Bridge St, Margaretville, take a left on State Hwy 28 to 42204 (Property is on your right)
Subdivision
Margaretville-Village-124603
Standard status
Active
APN
306.7-8-10
Size
1,664 SF
Lot size
1.02 Acres
Taxes and HOA fees
Tax Annual Amount
5327
Utilities
Heating system
Baseboard, Wood, Hot Water(Heating), Zoned, Oil
Cooling system
Zoned, Window Unit(s), Attic Fan
Water source
Well, Public
Building Details
Year built
1889
Floors in Building
2
Number of units
3
Flooring type
Tile, Varies, Hardwood, Vinyl
Building materials
Frame, VinylSiding, CopperPlumbing, PexPlumbing
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Keller Williams Upstate NY Properties · Keller Williams Realty
(845) 586-6220
Listed By:
Pamela Jean Orr · License #30OR0766776
(845) 853-3255
Added: Aug 21
Changed: Aug 23
Last Checked: Aug 24 at 5:06AM
MLS# R1700551
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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
$19,300
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
3.87%
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%
$386,000
$386.0K
Cap Rate 7%
$275,714
$275.7K
Cap Rate 9%
$214,444
$214.4K
Market Conditions
NOI Build-Up for 1,664 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
$31.9K $19.20/SF
− Vacancy
−$4.4K −$2.63/SF
EGI
$27.6K $16.57/SF
− OpEx
−$8.3K −$4.97/SF
NOI
$19.3K $11.60/SF
Area
Delaware County, NY
Vacancy
13.70%
Lease Rate
$19.20 /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%
$386,000
Cap Rate 7%
$275,714
Cap Rate 9%
$214,444
Alternative Uses
Best Use
Multifamily LT 5
$275.7K
$241.3K – $321.7K
NOI $19,300 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$252.3K
$220.8K – $294.4K
NOI $17,662 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$816.4K
$714.4K – $952.5K
NOI $57,148 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
Explore this area
Business Placement
Demographics for 12455, NY
1,820
Population
1,697
Households
1.1
Avg Household Size
56
Median Age
27%
College-Educated
91%
High-School Grad
71.3 sq mi
ZIP Area
26
Density / Sq Mi
$74,271
Median Household Income
$34,531
Median Earnings
$1,297
Median Rent
$219,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
Where is this multifamily property located?
The property is located at 42204 State Hwy 28 Margaretville, NY.
What is the asking price?
The asking price for this property is $499,000.
