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    Renovated Four-Unit Residential Property Title is generated by Realmo AI

    16 Main Street, Bloomingdale, NY 12913

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    For Sale
    $409,000

    MULTI_FAMILY - Other - Bloomingdale, NY

    Property size:
    3,802 SF
    Lot size:
    0.23 Acres
    Price / SF:
    $107/SF
    Added:
    Jun 24, 2025
    Days on Market:
    331
    Last Refresh:
    May 20 at 2:06 am

    Property Features for 16 Main Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Mixed
    Parking
    6
    Parking features
    Off Street
    Window features
    Double Pane Windows
    Interior features
    Ceiling Fan(s)
    Exterior features
    Lighting
    Basement
    Exterior Entry, Dirt Floor, Full
    Appliances
    Dishwasher, Electric Oven, Electric Range, Refrigerator
    Standard status
    Active
    APN
    13.56-8-9.110
    Size
    3,802 SF
    Lot size
    0.23 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2531

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Hot Water(Heating), Oil
    Water source
    Public

    Building Details

    Year built
    1935
    Floors in Building
    3
    Number of units
    4
    Flooring type
    Hardwood, Carpet, Linoleum
    Building materials
    Asphalt, Wood Siding
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Jodi Gunther

    Listing agent Jodi Gunther

    Listing office Adirondack Premier Properties Berkshire Hathaway HomeService 2429 Main Street, Lake Placid, NY

    Listing date Jun 24, 2025

    MLS# 204978 Listing URL

    Copyright © 2026 Adirondack Champlain Valley MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Mortgage can be covered by rental income from the other three units while living in one unit.
    • Recently renovated and restored, ensuring worry‑free ownership for years to come.
    • Consistent rental income due to historically low vacancy rates and long‑term tenants.
    • All units equipped with dishwashers, washer/dryer hookups, and individual outdoor deck spaces.
    • Ample off‑street parking available for tenants.
    • New siding, soffits, entry doors, and boiler.

    Overview

    This is a four-unit residential property that has been renovated and restored. Two of the units are one-bedroom apartments with an additional bonus space, and the other two units are two-bedroom apartments. All units are equipped with dishwashers and washer/dryer hookups, and each has individual outside deck spaces. The property includes parking spaces for tenants. Recent updates include new siding, soffits, entry doors, and a boiler. The property has a history of low vacancy rates, with many tenants having been residents for several years. The property is located in Bloomingdale, NY. It offers an opportunity to live in one unit while the other three units contribute to mortgage payments. The property size is 3802 square feet and the lot size is 0.23 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Building Supply Gym & Fitness Center Auto Repair Shop Big Box & Wholesale Store Daycare Center HVAC Service Electronics & Wireless Store Storage Facility Computer & Electronic Repair

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bloomingdale
    County
    Essex
    State
    New York
    Longitude
    -74.088764
    Latitude
    44.407852

    Nearby Similar for Sale

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    • $149,000

      Historic Church in Bloomingdale

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    FAQs

    What type of property is this?
    Quadplex - Renovated four-unit residential property with steady rental history.
    Where is this quadplex located?
    The property is located at 16 Main Street Bloomingdale, NY.
    What is the asking price?
    The asking price for this property is $409,000.
    What are key features of this property?
    This property features: Mortgage can be covered by rental income from the other three units while living in one unit.; Recently renovated and restored, ensuring worry‑free ownership for years to come.; Consistent rental income due to historically low vacancy rates and long‑term tenants.
    (518) 524-6175
    We can help!
    Listing Contact
    Jodi Gunther
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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