Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Updated Two-Unit Adirondack Property Title is generated by Realmo AI

    208 Water Street, Elizabethtown, NY 12932

    View on Map
    Claim this Listing
    For Sale
    $275,000

    MULTI_FAMILY - Other - Elizabethtown, NY

    Property size:
    1,167 SF
    Price / SF:
    $235/SF
    Added:
    May 6, 2026
    Days on Market:
    11
    Last Refresh:
    May 16 at 4:06 pm

    Property Features for 208 Water Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    Carport
    Window features
    Double Pane Windows
    Patio and Porch features
    Porch, Deck
    Basement
    Unfinished
    Appliances
    Dryer, Electric Oven, Electric Range, Freezer, Microwave, Refrigerator, Washer
    Standard status
    Active
    APN
    55.84-3-11.000
    Size
    1,167 SF

    Taxes and HOA fees

    Tax Annual Amount
    3064

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Oil
    Water source
    Public
    Water front
    1

    Building Details

    Year built
    1900
    Floors in Building
    2
    Flooring type
    Carpet, Wood
    Building materials
    Wood Siding
    Architectural style
    Other

    We can help!

    Listing Contact
    Blythe Niles-Linster
    Blythe Niles-Linster

    Listing agent Blythe Niles-Linster

    Listing office Engel & Volkers Lake Placid Real Estate 2297 Saranac Avenue, Lake Placid, NY

    Listing date May 6, 2026

    MLS# 207148 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

    • Income‑generating two‑unit property in the heart of the Adirondack village of Elizabethtown.
    • Direct access to 73 feet of Bouquet River frontage.
    • Recent updates including fresh paint, new appliances, and a carport.
    • Conveniently located near downtown Elizabethtown's amenities and Adirondack recreational activities.
    • First‑floor residence features an open living space, full bathroom, well‑appointed kitchen, and hardwood floors.
    • Classic covered front porch and thoughtful landscaping.

    Overview

    Located in the Adirondack village of Elizabethtown, this updated two-unit property offers income potential and lifestyle appeal. The first-floor residence features an open living space, a full bathroom, a well-appointed kitchen, and hardwood floors with natural light. The second floor includes two bedrooms, a full bathroom, and a kitchen. Recent updates include fresh exterior paint, updated interior paint upstairs, new first-floor appliances, basement stairway paneling, landscaping, and a newly added carport. The property includes direct access to the Bouquet River with 73 feet of river frontage. A covered front porch provides a place to relax. Situated near downtown Elizabethtown's shops, dining, and community events, the property is within reach of hiking, fishing, and skiing. The property size is 1167 square feet. Furnishings are negotiable.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Law Firm Hair Salon Big Box & Wholesale Store Dental Office Nail Salon Pharmacy Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Elizabethtown
    County
    Essex
    State
    New York
    Longitude
    -73.592363
    Latitude
    44.216505

    Nearby Similar for Sale

    • $199,000
      12,416 SF

      Versatile Commercial Buildings in Elizabethtown

      Two buildings ideal for manufacturing, storage, retail, or residential conversion.
      105 Hand Avenue, Elizabethtown, NY 12932
      View Details
    • $145,000
      1,272 SF

      Commercial Property on Corner Lot

      Commercial property with high exposure and rental income potential.
      222 Water Street, Elizabethtown, NY 12932
      View Details
    • $145,000
      1,272 SF

      Corner Lot Mixed-Use Property

      Mixed-use property on a busy corner lot with great exposure.
      222 Water St Unit 222, Elizabethtown, NY 12932
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-unit property in Elizabethtown with river frontage.
    Where is this duplex located?
    The property is located at 208 Water Street Elizabethtown, NY.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: Income‑generating two‑unit property in the heart of the Adirondack village of Elizabethtown.; Direct access to 73 feet of Bouquet River frontage.; Recent updates including fresh paint, new appliances, and a carport.
    (914) 588-1316
    We can help!
    Listing Contact
    Blythe Niles-Linster
    Blythe Niles-Linster
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    208 Water Street, Elizabethtown, NY 12932
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!