Lakefront Four-Unit
New
For Sale
$1,700,000
127 Highland Lake Rd, Highland Lake, NY 12743
Private dock, heated pool, and lake views support waterfront living with established rental occupancy.
Property Size10,708 SF
Days on Market2
Property Features for 127 Highland Lake Rd
General Information
Standard status
Active
Size
10,708 SF
Property subtype
Investment
Occupancy
75%
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,430
Amenities
heated pool
private dock
bar and patio
storage shed
private decks
Building Details
Building Size
10,708 SF
Year Built
1920
Units
4
Tenancy
Multi
Listing Agency:
PAYNE TEAM LLC
Listed By:
Dawn M. Payne · License #10491209069
(845) 649-1720
Source:
Elliman
Added: Sep 6
Last Checked: Sep 6 at 2:54PM
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 PAYNE TEAM LLC
Investment Insights
Based on property information with market context.
Built in 1920, this four-unit lakefront property on Highland Lake combines residential income with direct waterfront amenities. Each unit includes a private deck overlooking the lake, while the property also features a private dock, a heated 16' x 32' inground pool, and a lower-level bar and patio area. A circular driveway provides on-site parking, and a storage shed adds practical utility. Three units are occupied by long-term tenants, and the current owners have maintained the property for more than 25 years.
Located at 127 Highland Lake Rd in Highland Lake, New York, the property is within the Sullivan Catskills and near Bethel Woods, Resorts World Catskills, The Kartrite Resort & Indoor Waterpark, restaurants, and recreational destinations. Highland Lake is described as motorboat-friendly, and New York City is under two hours away. BikeScore is 26 and Walk Score is 6, reflecting a primarily car-dependent setting.
Located at 127 Highland Lake Rd in Highland Lake, New York, the property is within the Sullivan Catskills and near Bethel Woods, Resorts World Catskills, The Kartrite Resort & Indoor Waterpark, restaurants, and recreational destinations. Highland Lake is described as motorboat-friendly, and New York City is under two hours away. BikeScore is 26 and Walk Score is 6, reflecting a primarily car-dependent setting.
Key Highlights
- Four‑unit lakefront property with three units occupied by long‑term tenants
- Private dock on Highland Lake, described as motorboat‑friendly
- Heated 16' x 32' inground pool
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
$85,368
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
5.02%
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%
$1,707,360
$1.7M
Cap Rate 7%
$1,219,543
$1.2M
Cap Rate 9%
$948,533
$948.5K
Market Conditions
NOI Build-Up for 10,708 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
$137.5K $12.84/SF
− Vacancy
−$15.5K −$1.45/SF
EGI
$122.0K $11.39/SF
− OpEx
−$36.6K −$3.42/SF
NOI
$85.4K $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%
$1,707,360
Cap Rate 7%
$1,219,543
Cap Rate 9%
$948,533
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.07M – $1.42M
NOI $85,368 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$1.17M
$1.02M – $1.36M
NOI $81,746 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$2.94M
$2.57M – $3.43M
NOI $205,594 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
Explore this area
Business Placement
Demographics for 12743, NY
347
Population
285
Households
1.2
Avg Household Size
47
Median Age
20%
College-Educated
99%
High-School Grad
7.5 sq mi
ZIP Area
46
Density / Sq Mi
$75,848
Median Earnings
$341,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Private dock, heated pool, and lake views support waterfront living with established rental occupancy.
Where is this quadplex located?
The property is located at 127 Highland Lake Rd Highland Lake, NY.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Four‑unit lakefront property with three units occupied by long‑term tenants; Private dock on Highland Lake, described as motorboat‑friendly; Heated 16' x 32' inground pool
