Furnished Short-Term Rental
For Sale
$799,000
Pending
121 Lincoln Avenue, Saratoga Springs, NY 12866
Fully furnished income property near downtown and the Saratoga Race Course, with documented improvements across the building.
Property Size2,255 SF
Days on Market66
Property Features for 121 Lincoln Avenue
General Information
Standard status
Pending
Size
2,255 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Zoning
Multi Residence
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$6,441
Building Details
Year Built
1920
Listing Agency:
KW Platform
Listed By:
Mary Cummings · License #10401363940
(518) 925-2473
Source:
Capmarkrealty
Added: Aug 15
Changed: Oct 16
Last Checked: Oct 16 at 6:19AM
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
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Investment Insights
Based on property information with market context.
Built in 1920, this 2,255-square-foot short-term rental property is offered fully furnished and includes established STR income. The property has received several updates, including a new HVAC system in Unit 2, PEX plumbing, refreshed landscaping, a replacement washing machine, and updated furniture and interior design elements.
The 121 Lincoln Ave location places the property within walking distance of downtown Saratoga Springs and the Saratoga Race Course. Dining, shopping, entertainment, and year-round attractions are located nearby, supporting the property's appeal for both short- and long-term rental use.
The 121 Lincoln Ave location places the property within walking distance of downtown Saratoga Springs and the Saratoga Race Course. Dining, shopping, entertainment, and year-round attractions are located nearby, supporting the property's appeal for both short- and long-term rental use.
Key Highlights
- 2,255‑square‑foot short‑term rental property built in 1920
- Fully furnished offering with established STR income
- Walking distance to downtown Saratoga Springs and the Saratoga Race Course
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,942
Cap Rate
3.75%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Short term rental property - Fully furnished income property near downtown and the Saratoga Race Course, with documented improvements across the building.
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; Fully furnished offering with established STR income; Walking distance to downtown Saratoga Springs and the Saratoga Race Course
