Renovated Triplex with Rental
247 River Street Warrensburg, NY 12885
247 River Street, Warrensburg, NY, 12885
$925,000
For Sale
$925,000
Modernized triplex with short-term rental potential, $101k+ gross revenue.
Property Size3,220 SF
Price / SF$287.27
Days on Market206
Property Features for 247 River Street
General Information
- Standard status
- Active
- Size
- 3,220 SF
- Property subtype
- Multi Family / Triplex
Building Details
- Year Built
- 1890
Listing Agency
Find Advisors
(518) 866-8698
Listed by
Jamie Sittner · License #10301223502
(518) 866-8698
Source
Compass
Added: Dec 27, 2025 Updated: Jul 10 at 12:15 pm Checked: Jul 20 at 5:33 am
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 Find Advisors
Investment Insights
Based on property information with market context.
This renovated and modernized triplex features two 1-bedroom units and one 4-bedroom unit. The property offers potential for both long-term and short-term rentals. Currently utilized as a short-term rental, it generated a gross revenue of over $101,000 in 2024. The property, with a size of 3220 square feet, can be conveyed fully furnished for an adjusted price. The property is part of a larger portfolio of homes spanning from Lake Placid to the Catskills.
Key Highlights
- Gross short‑term rental revenue of $101k+ in 2024.
- Fully renovated and modernized 3‑unit home (two 1‑bedroom units and one 4‑bedroom unit).
- Potential for continued management post‑sale (for a fee).
Local 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 | $45.2k | $14.04 |
| − Vacancy | −$3.2k | −$0.98 |
| EGI | $42.0k | $13.06 |
| − OpEx | −$12.6k | −$3.92 |
| NOI | $29.4k | $9.14 |
3,220 SF · lease $14.04/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$420.4K
$367.9K – $490.5K
NOI $29,431 @ 7.0% cap · market cap 3.18%
Second Best
Apartment 5plus
$383.6K
$335.7K – $447.5K
NOI $26,852 @ 7.0% cap · market cap 2.90%
Theoretical Best
Office A
$963.8K
$843.3K – $1.12M
NOI $67,465 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
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FAQs
What type of property is this?
Triplex - Modernized triplex with short-term rental potential, $101k+ gross revenue.
Where is this triplex located?
The property is located at 247 River Street Warrensburg, NY.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Gross short‑term rental revenue of $101k+ in 2024.; Fully renovated and modernized 3‑unit home (two 1‑bedroom units and one 4‑bedroom unit).; Potential for continued management post‑sale (for a fee).
