Residential Income Property with Heated
2439 County Route 5 New Lebanon, NY 12125
For Sale
Contact for pricing
A cape with a heated 28-by-36 garage/workshop plus a separate apartment above, backing Hand Hollow State Forest.
Property Size2,960 SF
Lot Size22.20 Acres
Price / SF$234.46
Days on Market25
Property Features for 2439 County Route 5
General Information
- Standard status
- Active
- Size
- 2,960 SF
- Lot size
- 22.20 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1961
Listing Agency:
Howard Hanna Capital, Inc.
Listed By:
Sandy Speranza · License #40SP1007987
Source:
Crexi
Added: Jun 29
Changed: Jul 23
Last Checked: Jul 23 at 8:07AM
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.
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 For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.0k | $16.20 |
| − Vacancy | −$2.6k | −$0.89 |
| EGI | $45.3k | $15.31 |
| − OpEx | −$13.6k | −$4.59 |
| NOI | $31.7k | $10.72 |
2,960 SF · lease $16.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$453.1K
$396.5K – $528.7K
NOI $31,720 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$397.7K
$348.0K – $464.0K
NOI $27,839 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$732.3K
$640.8K – $854.4K
NOI $51,262 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Phenomenal finish
General Contractor
FAQs
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 $694,000.
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
