Residential Income Property with Heated
For Sale
$645,000
2439 County Route 5, New Lebanon, NY 12125
A cape with a heated 28-by-36 garage/workshop plus a separate apartment above, backing Hand Hollow State Forest.
Property Size2,000 SF
Lot Size22.20 Acres
Price / SF$322.50
Days on Market146
Property Features for 2439 County Route 5
General Information
Standard status
Active
Size
2,000 SF
Lot size
22.20 Acres
Property subtype
Multi-family
Amenities
sunroom
home office
heated garage
workshop
apartment
Building Details
Year Built
1961
Construction
Cape
Listing Agency:
Howard Hanna Capital Inc
Listed By:
Sandy A Speranza · License #40SP1007987
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Jun 3
Changed: Oct 25
Last Checked: Oct 24 at 9:47PM
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 Howard Hanna Capital Inc
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This residential income property centers on a 2,000-square-foot Cape with 3 bedrooms, 2 full baths, a dedicated home office, and a sunroom. A standout improvement is a heated 28' x 36' garage and workshop with abundant storage for vehicles, equipment, and recreational items. Above the garage is a separate 960-square-foot apartment with its own septic system and separate electric.
The property backs directly to Hand Hollow State Forest and offers direct access to outdoor activities including hiking and snowmobiling. It is located about 20 minutes from Jiminy Peak, 30 minutes from Albany, 7 minutes from Lebanon Valley Speedway, and under 3 hours from NYC, with additional access to Chatham and the Berkshires.
With 22.2 acres and an attached secondary apartment configuration, the home provides two self-contained living areas within a single property setting.
The property backs directly to Hand Hollow State Forest and offers direct access to outdoor activities including hiking and snowmobiling. It is located about 20 minutes from Jiminy Peak, 30 minutes from Albany, 7 minutes from Lebanon Valley Speedway, and under 3 hours from NYC, with additional access to Chatham and the Berkshires.
With 22.2 acres and an attached secondary apartment configuration, the home provides two self-contained living areas within a single property setting.
Key Highlights
- 22.2‑acre property backing directly to Hand Hollow State Forest
- 2,000‑SF Cape built in 1961 with 3 bedrooms, 2 full baths, home office, and sunroom
- 28' x 36' heated garage/workshop with abundant storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,433
Cap Rate
3.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$428,660
$428.7K
Cap Rate 7%
$306,186
$306.2K
Cap Rate 9%
$238,144
$238.1K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$32.4K $16.20/SF
− Vacancy
−$1.8K −$0.89/SF
EGI
$30.6K $15.31/SF
− OpEx
−$9.2K −$4.59/SF
NOI
$21.4K $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 Rate 5%
$428,660
Cap Rate 7%
$306,186
Cap Rate 9%
$238,144
Alternative Uses
Best Use
Multifamily LT 5
$306.2K
$267.9K – $357.2K
NOI $21,433 @ 7.0% cap · market cap 3.32%
Second Best
Apartment 5plus
$268.7K
$235.1K – $313.5K
NOI $18,810 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$494.8K
$433.0K – $577.3K
NOI $34,637 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Explore this area
Business Placement
Demographics for 12125, NY
1,478
Population
619
Households
2.4
Avg Household Size
39
Median Age
40%
College-Educated
96%
High-School Grad
16.0 sq mi
ZIP Area
92
Density / Sq Mi
$67,596
Median Household Income
$41,489
Median Earnings
$983
Median Rent
$247,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - A cape with a heated 28-by-36 garage/workshop plus a separate apartment above, backing Hand Hollow State Forest.
Where is this duplex located?
The property is located at 2439 County Route 5 New Lebanon, NY.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: 22.2‑acre property backing directly to Hand Hollow State Forest; 2,000‑SF Cape built in 1961 with 3 bedrooms, 2 full baths, home office, and sunroom; 28' x 36' heated garage/workshop with abundant storage
