Lakefront Cottage
For Sale
Under Contract
$339,000
164 Lussier lane, Redwood, NY 13679
LAND - Cottage - Redwood, NY
Property Size1,386 SF
Lot Size5.10 Acres
Price / SF$244.59
Days on Market48
Property Features for 164 Lussier lane
General Information
Property type
Land
Property subtype
Other
Parking features
Garage, Driveway
Vegetation
Wooded
Patio and Porch features
Porch, Deck
Interior features
CeilingFans, CathedralCeilings, Furnished, SeparateFormalLivingRoom, CountryKitchen, LivingDiningRoom, SlidingGlassDoors, Storage, Loft
Exterior features
Deck, Dock, GravelDriveway, Porch, PropaneTankLeased
Fireplace
1
Appliances
ElectricWaterHeater, GasOven, GasRange, Refrigerator
Lot features
Irregular Lot, Rural Lot, Secluded, Wooded, Lake Front
View
Water
Elementary school district
Hammond
Middle school district
Hammond
High school district
Hammond
Directions
Cottage Hill Rd turns into Grass Lake Rd take left on Lussier Lane PVT. follow to the end. Follow signs
Subdivision
Rossie-407600
Standard status
Active Under Contract
APN
407600-170-002-0001-002-012-0000
Size
1,386 SF
Lot size
5.10 Acres
Taxes and HOA fees
Tax Annual Amount
4310
Utilities
Sewer type
Septic Tank
Heating system
Wood
Water source
Well
Water front features
Beach Access, Lake Front, Lake
Water front
1
Building Details
Year built
2010
Floors in Building
1
Flooring type
Varies, Tile, Carpet
Building materials
VinylSiding
Roof type
Metal
Architectural style
Cottage
Additional Structures
Storage, Shed(s)
Listing Agency:
Lake Ontario Realty, LLC
(315) 649-3434
Listed By:
Mandy Bray · License #10401315317
(315) 649-3434
Added: Jun 26
Changed: Aug 10
Last Checked: Aug 12 at 7:06PM
MLS# S1693769
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This updated lakefront cottage is set on 5.1 acres with approximately 550 feet of waterfront on Grass Lake. The home features electricity with 200-amp service, a septic system, and a drilled well. The main floor includes two bedrooms, a full bath, a large kitchen with brand new appliances, and an open dining/living area centered on a wood stove. A circular staircase leads to a large loft area, and the property includes a storage/mechanical room.
French doors open to a two-level deck with wrought iron railings, providing space for outdoor dining and shoreline views. Paths from the cabin lead to a newly built stairway to a floating dock and a fishing/swimming platform. The property also has a shed for outdoor storage, a new circular driveway, and a propane back-up generator. The listing indicates the home comes with all furnishings and appliances.
Outdoor living is supported by the deck configurations, shoreline access, and water-oriented platform and dock. Indoors, the layout supports main-floor living with additional flex space in the loft.
French doors open to a two-level deck with wrought iron railings, providing space for outdoor dining and shoreline views. Paths from the cabin lead to a newly built stairway to a floating dock and a fishing/swimming platform. The property also has a shed for outdoor storage, a new circular driveway, and a propane back-up generator. The listing indicates the home comes with all furnishings and appliances.
Outdoor living is supported by the deck configurations, shoreline access, and water-oriented platform and dock. Indoors, the layout supports main-floor living with additional flex space in the loft.
Key Highlights
- Secluded Grass Lake cabin on 5.10 acres with 550 ft of lake frontage and beach access.
- Floating dock and fishing/swimming platform reached via paths from the cabin with newly built stairway.
- 2‑3 bedroom cottage built in 2010 with loft, cathedral ceilings, and an open dining/living 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
$10,209
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
3.01%
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%
$204,180
$204.2K
Cap Rate 7%
$145,843
$145.8K
Cap Rate 9%
$113,433
$113.4K
Market Conditions
NOI Build-Up for 1,386 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
$20.0K $14.40/SF
− Vacancy
−$1.4K −$1.01/SF
EGI
$18.6K $13.39/SF
− OpEx
−$8.4K −$6.03/SF
NOI
$10.2K $7.37/SF
Area
Jefferson County, NY
Vacancy
7.00%
Lease Rate
$14.40 /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%
$204,180
Cap Rate 7%
$145,843
Cap Rate 9%
$113,433
Alternative Uses
Best Use
Apartment 5plus
$145.8K
$127.6K – $170.2K
NOI $10,209 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$382.1K
$334.3K – $445.7K
NOI $26,744 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Explore this area
Business Placement
Demographics for 13679, NY
1,791
Population
1,325
Households
1.4
Avg Household Size
45
Median Age
32%
College-Educated
96%
High-School Grad
61.1 sq mi
ZIP Area
29
Density / Sq Mi
$102,826
Median Household Income
$49,250
Median Earnings
$200,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Updated cottage on 5.1 acres with 550 feet of Grass Lake frontage, decks, loft, and access to a floating dock.
Where is this single family property located?
The property is located at 164 Lussier lane Redwood, NY.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: Secluded Grass Lake cabin on 5.10 acres with 550 ft of lake frontage and beach access.; Floating dock and fishing/swimming platform reached via paths from the cabin with newly built stairway.; 2‑3 bedroom cottage built in 2010 with loft, cathedral ceilings, and an open dining/living layout.
