Duplex with Stream
For Sale
$395,000
193 Main Street, Andes, NY 13731
MULTI_FAMILY - Other - Andes, NY
Property Size2,184 SF
Lot Size0.30 Acres
Price / SF$180.86
Days on Market47
Property Features for 193 Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 2, Bedroom 6, Basement, Bedroom 4, Bedroom 1, Bathroom 3, Bathroom 1, Bedroom 5, Bedroom 2
Patio and Porch features
Deck, Porch
Interior features
CeilingFans, NaturalWoodwork
Exterior features
Balcony, Deck
Appliances
ElectricWaterHeater
Lot features
Flood Zone, Irregular Lot, Near Public Transit
Elementary school district
Andes
Middle school district
Andes
High school district
Andes
Directions
From Margaretville take Route 28 to Andes and continue to property on right had side of street.
Subdivision
Andes-122000
Standard status
Active
APN
122000-259-006-0005-005-000
Size
2,184 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Annual Amount
3627
Utilities
Heating system
Oil, Forced Air
Water source
Public
Water front features
River Access, Stream
Water front
1
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Varies, Tile
Building materials
Frame, VinylSiding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Coldwell Banker Timberland Properties · Coldwell Banker Real Estate
(845) 586-3321
Listed By:
Jeffrey Ashton · License #40AS1141313
(973) 650-0035
Added: Jul 6
Changed: Aug 4
Last Checked: Aug 21 at 5:06PM
MLS# R1694426
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.
Located in the heart of the Catskill village of Andes, this two-family duplex at 193 Main Street offers a flexible live-and-rent layout. The home features 2 apartments with separate electric, laundry, and heating zones, supporting a variety of occupancy and rental approaches. With 2,184 square feet of living space, the floor plan allows one unit to be used as a residence while the other generates income.
Exterior amenities include a balcony, deck, and porch, with river access along a stream setting described as being on the Tremper Kill. The home is served by public water and has an asphalt roof. Interior features include natural woodwork and ceiling fans.
Built in 1900, the property includes forced air oil heat and an electric water heater. Additional construction details include frame construction and vinyl siding.
Exterior amenities include a balcony, deck, and porch, with river access along a stream setting described as being on the Tremper Kill. The home is served by public water and has an asphalt roof. Interior features include natural woodwork and ceiling fans.
Built in 1900, the property includes forced air oil heat and an electric water heater. Additional construction details include frame construction and vinyl siding.
Key Highlights
- 2 apartments with separate electric, laundry, and heating zones
- Stream and river access along Tremper Kill
- Balcony, deck, and porch for outdoor living
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
$25,332
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
6.41%
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%
$506,640
$506.6K
Cap Rate 7%
$361,886
$361.9K
Cap Rate 9%
$281,467
$281.5K
Market Conditions
NOI Build-Up for 2,184 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
$41.9K $19.20/SF
− Vacancy
−$5.7K −$2.63/SF
EGI
$36.2K $16.57/SF
− OpEx
−$10.9K −$4.97/SF
NOI
$25.3K $11.60/SF
Area
Delaware County, NY
Vacancy
13.70%
Lease Rate
$19.20 /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%
$506,640
Cap Rate 7%
$361,886
Cap Rate 9%
$281,467
Alternative Uses
Best Use
Multifamily LT 5
$361.9K
$316.7K – $422.2K
NOI $25,332 @ 7.0% cap · market cap 6.41%
Second Best
Apartment 5plus
$331.2K
$289.8K – $386.4K
NOI $23,181 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$1.07M
$937.6K – $1.25M
NOI $75,007 @ 7.0% cap · market cap 18.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
106
Businesses Nearby
Explore this area
Business Placement
Demographics for 13731, NY
949
Population
1,165
Households
0.8
Avg Household Size
60
Median Age
32%
College-Educated
96%
High-School Grad
89.8 sq mi
ZIP Area
11
Density / Sq Mi
$76,429
Median Household Income
$52,622
Median Earnings
$1,000
Median Rent
$270,000
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?
Duplex - Two apartments share the same address, with separate electric, laundry, and heating zones, plus public water and streamside setting.
Where is this duplex located?
The property is located at 193 Main Street Andes, NY.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 2 apartments with separate electric, laundry, and heating zones; Stream and river access along Tremper Kill; Balcony, deck, and porch for outdoor living
