Furnished Lakeside Short-Term
For Sale
$69,900
11609 State Rte 3 Unit 25, Henderson, NY 13605
Furnished seasonal retreat with lake access, outdoor living areas, and participation in an available rental pool program.
Property Size400 SF
Price / SF$174.75
Days on Market556
Property Features for 11609 State Rte 3 Unit 25
General Information
Standard status
Active
Size
400 SF
Property subtype
Land / Cabin
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Furnished
Yes
Utilities to Site
Yes
Amenities
central air conditioning
electric fireplace
central vacuum
washer/dryer hookups
propane range
paved patio
side deck with awning
storage shed
dock access
clubhouse
on-site laundry
One
Ductless, Electric
Ductless, Central Air
Electric Water Heater, Free Standing Range, Microwave, Oven, Refrigerator, Wine Cooler
Yes
No
400.0
4
Laminate, Varies
Living Dining Room, Loft
1
Cabin
Lake Ontario
Sheds
205
Aluminum Siding, Other
Block
Building Details
Year Built
2019
Buildings
1
Stories
1
Construction
mobile home
Listing Agency:
Lake Ontario Realty, LLC
(315) 649-3434
Listed By:
Kiah Sugrue · License #10401293311
(315) 649-3434
Source:
Compass
Added: Feb 21, 2025
Changed: Aug 30
Last Checked: Aug 30 at 8:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lake Ontario Realty, LLC
Investment Insights
Based on property information with market context.
This furnished 2019 mobile home provides 400 square feet with one bedroom, one bathroom, and an open living and kitchen arrangement. The interior includes cabinetry, modern countertops, stainless steel appliances, a propane range, wine cooler, pull-out couch, washer/dryer hookups, central vacuum, two central air units, and an electric fireplace. A loft adds to the functional layout.
Outdoor features include a paved patio, side deck with awning, and storage shed. The property is situated on Henderson Bay at Lake Ontario within an RV resort community, with access to docks, a clubhouse, and on-site laundry facilities. Public water, septic, and trash service are included through the park’s annual lease agreement. A rental pool program is also available for periods when the property is not in personal use.
Outdoor features include a paved patio, side deck with awning, and storage shed. The property is situated on Henderson Bay at Lake Ontario within an RV resort community, with access to docks, a clubhouse, and on-site laundry facilities. Public water, septic, and trash service are included through the park’s annual lease agreement. A rental pool program is also available for periods when the property is not in personal use.
Key Highlights
- 400 square feet with 1 bedroom and 1 bathroom
- Built in 2019 and offered furnished
- Open living and kitchen layout with stainless steel appliances
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
$2,946
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
4.21%
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%
$58,920
$58.9K
Cap Rate 7%
$42,086
$42.1K
Cap Rate 9%
$32,733
$32.7K
Market Conditions
NOI Build-Up for 400 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
$5.8K $14.40/SF
− Vacancy
−$403 −$1.01/SF
EGI
$5.4K $13.39/SF
− OpEx
−$2.4K −$6.03/SF
NOI
$2.9K $7.37/SF
Area
Jefferson County, NY
Vacancy
7.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
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%
$58,920
Cap Rate 7%
$42,086
Cap Rate 9%
$32,733
Alternative Uses
Best Use
Apartment 5plus
$42.1K
$36.8K – $49.1K
NOI $2,946 @ 7.0% cap · market cap 4.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$110.3K
$96.5K – $128.6K
NOI $7,718 @ 7.0% cap · market cap 11.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Explore this area
Business Placement
Demographics for 13605, NY
4,517
Population
2,497
Households
1.8
Avg Household Size
41
Median Age
22%
College-Educated
91%
High-School Grad
78.0 sq mi
ZIP Area
58
Density / Sq Mi
$70,947
Median Household Income
$40,592
Median Earnings
$744
Median Rent
$188,200
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?
Short term rental property - Furnished seasonal retreat with lake access, outdoor living areas, and participation in an available rental pool program.
Where is this short term rental property located?
The property is located at 11609 State Rte 3 Unit 25 Henderson, NY.
What is the asking price?
The asking price for this property is $69,900.
What are key features of this property?
This property features: 400 square feet with 1 bedroom and 1 bathroom; Built in 2019 and offered furnished; Open living and kitchen layout with stainless steel appliances
