Furnished Short-Term Rental
New
For Sale
$799,000
121 Lincoln Avenue, Saratoga Springs, NY 12866
Furnished rental asset with recent mechanical, plumbing, appliance, landscaping, and interior updates.
Property Size2,255 SF
Price / SF$354.32
Days on Market7
Property Features for 121 Lincoln Avenue
General Information
Standard status
Active
Size
2,255 SF
Property subtype
Multi-family
Additional Details
Furnished
Yes
Building Details
Year Built
1920
Listing Agency:
KW Platform
Listed By:
Mary Cummings
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Aug 13
Changed: Aug 18
Last Checked: Aug 18 at 4:57AM
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 KW Platform
Investment Insights
Based on property information with market context.
This 2,255-square-foot short-term rental property dates to 1920 and is offered with furnishings in place. Recent work includes a new HVAC system serving Unit 2, updated PEX plumbing, refreshed landscaping, a replacement washing machine, and renewed furniture and interior design elements.
The property is located at 121 Lincoln Avenue in Saratoga Springs, within walking distance of downtown and the Saratoga Race Course. Downtown dining, shopping, entertainment, and year-round attractions are described as minutes away. Established short-term rental income and furnished delivery provide an operating asset with improvements already completed.
The property is located at 121 Lincoln Avenue in Saratoga Springs, within walking distance of downtown and the Saratoga Race Course. Downtown dining, shopping, entertainment, and year-round attractions are described as minutes away. Established short-term rental income and furnished delivery provide an operating asset with improvements already completed.
Key Highlights
- 2,255‑square‑foot short‑term rental property built in 1920
- Furnished sale offering with established short‑term rental income
- Within walking distance of downtown Saratoga Springs and the Saratoga Race Course
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
$29,942
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
3.75%
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%
$598,840
$598.8K
Cap Rate 7%
$427,743
$427.7K
Cap Rate 9%
$332,689
$332.7K
Market Conditions
NOI Build-Up for 2,255 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
$56.8K $25.20/SF
− Vacancy
−$2.4K −$1.06/SF
EGI
$54.4K $24.14/SF
− OpEx
−$24.5K −$10.86/SF
NOI
$29.9K $13.28/SF
Area
Saratoga County, NY
Vacancy
4.20%
Lease Rate
$25.20 /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%
$598,840
Cap Rate 7%
$427,743
Cap Rate 9%
$332,689
Alternative Uses
Best Use
Apartment 5plus
$427.7K
$374.3K – $499.0K
NOI $29,942 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$675.0K
$590.6K – $787.5K
NOI $47,247 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,533
Businesses Nearby
Explore this area
Business Placement
Demographics for 12866, NY
40,355
Population
20,462
Households
2
Avg Household Size
44
Median Age
55%
College-Educated
95%
High-School Grad
64.3 sq mi
ZIP Area
628
Density / Sq Mi
$98,374
Median Household Income
$53,265
Median Earnings
$1,460
Median Rent
$419,200
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 rental asset with recent mechanical, plumbing, appliance, landscaping, and interior updates.
Where is this short term rental property located?
The property is located at 121 Lincoln Avenue Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 2,255‑square‑foot short‑term rental property built in 1920; Furnished sale offering with established short‑term rental income; Within walking distance of downtown Saratoga Springs and the Saratoga Race Course
