Quadplex Multifamily with
For Sale
$595,000
9 Mongaup Road, Hurleyville, NY 12747
MULTI_FAMILY - Hurleyville, NY
Property Size4,800 SF
Lot Size0.19 Acres
Price / SF$123.96
Days on Market333
Property Features for 9 Mongaup Road
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bathroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 4, Bedroom 1, Bedroom 3, Bathroom 3
Interior features
Open Kitchen
Middle school
Fallsburg Junior-Senior High School
High school
Fallsburg Junior-Senior High School
Elementary school district
Fallsburg
Middle school district
Fallsburg
High school district
Fallsburg
Standard status
Active
APN
2889-035-0-0004-003-000
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
7600
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1920
Number of units
4
Building materials
Frame
Listing Agency:
Keller Williams Hudson Valley · Keller Williams Realty
(845) 791-8648
Listed By:
Pamela Henning · License #30HE1114381
(845) 866-0837
Added: Sep 11, 2025
Changed: Aug 3
Last Checked: Aug 9 at 11:06PM
MLS# 909420
Copyright © 2026 OneKey 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.
This quadplex-style multifamily building totals 4,800 sq ft and operates with 5 rentals, including 4 apartments and a storefront. The property sits on a manageable 0.19 acre lot with public water and public sewer, and it has electric heating. Interior features include an open kitchen, and the building is of frame construction built in 1920.
The rentals currently include one-bedroom and two-bedroom units. The storefront provides an additional income stream within the same structure.
The sellers would consider selling additional adjacent parcels, including a barn approximately 1,566 sq ft sized 29 x 54, along with other land parcels next to the property owner’s holdings. This may offer an opportunity to expand the footprint while keeping operations connected.
The rentals currently include one-bedroom and two-bedroom units. The storefront provides an additional income stream within the same structure.
The sellers would consider selling additional adjacent parcels, including a barn approximately 1,566 sq ft sized 29 x 54, along with other land parcels next to the property owner’s holdings. This may offer an opportunity to expand the footprint while keeping operations connected.
Key Highlights
- 4,800 sq ft quadplex‑style multifamily with 5 rentals: 4 apartments plus a storefront
- 0.19 acre lot with public water and public sewer
- Electric heating and frame construction
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
$38,267
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
6.43%
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%
$765,340
$765.3K
Cap Rate 7%
$546,671
$546.7K
Cap Rate 9%
$425,189
$425.2K
Market Conditions
NOI Build-Up for 4,800 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
$61.6K $12.84/SF
− Vacancy
−$7.0K −$1.45/SF
EGI
$54.7K $11.39/SF
− OpEx
−$16.4K −$3.42/SF
NOI
$38.3K $7.97/SF
Area
Sullivan County, NY
Vacancy
11.30%
Lease Rate
$12.84 /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%
$765,340
Cap Rate 7%
$546,671
Cap Rate 9%
$425,189
Alternative Uses
Best Use
Multifamily LT 5
$546.7K
$478.3K – $637.8K
NOI $38,267 @ 7.0% cap · market cap 6.43%
Second Best
Apartment 5plus
$523.5K
$458.1K – $610.7K
NOI $36,644 @ 7.0% cap · market cap 6.16%
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,160 @ 7.0% cap · market cap 15.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
88
Businesses Nearby
Explore this area
Business Placement
Demographics for 12747, NY
1,849
Population
1,036
Households
1.8
Avg Household Size
41
Median Age
32%
College-Educated
90%
High-School Grad
17.1 sq mi
ZIP Area
108
Density / Sq Mi
$61,875
Median Household Income
$35,459
Median Earnings
$929
Median Rent
$302,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Frame multifamily on public water and sewer with electric heat and an open kitchen layout plus a storefront rental.
Where is this quadplex located?
The property is located at 9 Mongaup Road Hurleyville, NY.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 4,800 sq ft quadplex‑style multifamily with 5 rentals: 4 apartments plus a storefront; 0.19 acre lot with public water and public sewer; Electric heating and frame construction
