Duplex with Garage
New
For Sale
$450,000
3648 Horseshoe Dr, Valatie, NY 12184
Two one-bedroom units are paired with substantial garage area and additional land.
Property Size2,340 SF
Price / SF$192.31
Days on Market6
Property Features for 3648 Horseshoe Dr
General Information
Standard status
Active
Size
2,340 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR
Multifamily Units
2
Building Details
Year Built
1970
Construction
pole barn
Listing Agency:
Realty One Group Key
(518) 861-7016
Listed By:
Clancy Real Estate, Inc
(518) 861-7016
Source:
Clancyrealestate
Added: Aug 23
Changed: Aug 28
Last Checked: Aug 28 at 10:13AM
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 Realty One Group Key
Investment Insights
Based on property information with market context.
This 2,340-square-foot duplex contains two one-bedroom units within a distinctive pole-barn-style structure. Built in 1970, the property includes extensive garage area and accompanying land, providing substantial room for vehicles, workshops, storage, or other projects. The roof requires replacement and should be addressed as part of the property’s physical improvements.
Located at 3648 Horseshoe Dr in Valatie, New York, the property combines a two-unit configuration with an uncommon building layout and significant accessory space. Its residential setup and large garage component create a property profile that differs from a conventional duplex.
Located at 3648 Horseshoe Dr in Valatie, New York, the property combines a two-unit configuration with an uncommon building layout and significant accessory space. Its residential setup and large garage component create a property profile that differs from a conventional duplex.
Key Highlights
- Two one‑bedroom units in a duplex configuration
- 2,340‑square‑foot property built in 1970
- Pole‑barn‑style structure with a distinctive layout
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
$25,076
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
5.57%
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%
$501,520
$501.5K
Cap Rate 7%
$358,229
$358.2K
Cap Rate 9%
$278,622
$278.6K
Market Conditions
NOI Build-Up for 2,340 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
$37.9K $16.20/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$35.8K $15.31/SF
− OpEx
−$10.7K −$4.59/SF
NOI
$25.1K $10.72/SF
Area
Columbia County, NY
Vacancy
5.50%
Lease Rate
$16.20 /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%
$501,520
Cap Rate 7%
$358,229
Cap Rate 9%
$278,622
Alternative Uses
Best Use
Multifamily LT 5
$358.2K
$313.5K – $417.9K
NOI $25,076 @ 7.0% cap · market cap 5.57%
Second Best
Apartment 5plus
$314.4K
$275.1K – $366.8K
NOI $22,008 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$578.9K
$506.6K – $675.4K
NOI $40,525 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
Explore this area
Business Placement
Demographics for 12184, NY
7,178
Population
3,415
Households
2.1
Avg Household Size
48
Median Age
38%
College-Educated
94%
High-School Grad
39.4 sq mi
ZIP Area
182
Density / Sq Mi
$91,616
Median Household Income
$52,946
Median Earnings
$1,131
Median Rent
$311,200
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?
Duplex - Two one-bedroom units are paired with substantial garage area and additional land.
Where is this duplex located?
The property is located at 3648 Horseshoe Dr Valatie, NY.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two one‑bedroom units in a duplex configuration; 2,340‑square‑foot property built in 1970; Pole‑barn‑style structure with a distinctive layout
