2600 & 2602 Kennedy Lane, Sullivan, NY 13032

Building Details

Building Size 2,480 SF More

Year Built 1948 More

Listing Agency: Coldwell Banker Faith Properties

Listed By: Tara VanCauwenberge · License NY #10401355358 Show Phone

Source: Griffith-realty

Added: Nov 10 Changed: Nov 12 Last Checked: Nov 12 at 2:30PM

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Investment Insights

Based on property information with market context.

Two separate homes sit on nearly one acre along Oneida Lake, with 50 feet of shoreline. The lakeside residence has three bedrooms and two bathrooms and has been fully remodeled. A second, chalet-style home includes a first-floor bedroom and a loft with additional sleeping space. Between the homes, a shed provides dedicated office space; a two-stall garage and two double carports add storage and parking. An in-ground pool, raised garden beds, fruit trees, and landscaped grounds complete the outdoor setting.

The property is in Sullivan, with Sylvan Beach a short drive away and Syracuse approximately 30 minutes away. The two residences provide separate living areas on the same lakefront parcel, alongside shared outdoor amenities and vehicle storage.

Key Highlights

• Two separate homes on nearly one acre along Oneida Lake
• 50 feet of shoreline
• Remodeled lakeside home with 3 bedrooms and 2 bathrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,028

Cap Rate

3.48%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$400,560 $400.6K

Cap Rate 7%

$286,114 $286.1K

Cap Rate 9%

$222,533 $222.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,480 SF

Gross rent

$39.6K $15.96/SF

− Vacancy

−$3.2K −$1.28/SF

EGI

$36.4K $14.68/SF

− OpEx

−$16.4K −$6.61/SF

NOI

$20.0K $8.08/SF

Area

Madison County, NY

Vacancy

8.00%

Lease Rate

$15.96 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$400,560

Cap Rate 7%

$286,114

Cap Rate 9%

$222,533

Alternative Uses

Best Use

Apartment 5plus

$286.1K

$250.4K – $333.8K (±1% cap)

NOI $20,028 @ 7.0% cap · market cap 3.48%

Second Best

—

—

no second resolved use

Theoretical Best

Industrial

$832.9K

$728.8K – $971.7K (±1% cap)

NOI $58,303 @ 7.0% cap · market cap 10.14%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

8

Businesses Nearby

Explore this area Business Placement

Demographics for 13032, NY

12,336

Population

6,217

Households

2

Avg Household Size

45

Median Age

20%

College-Educated

93%

High-School Grad

82.5 sq mi

ZIP Area

150

Density / Sq Mi

$74,217

Median Household Income

$39,904

Median Earnings

$920

Median Rent

$148,900

Median Home Value

Market

Average Price Trend$/SF for Multifamily properties in Madison County, NY

$60.16 Jul

$63.42 Aug

$51.16 Sep

$47.4 Oct

Properties on Market for Multifamily properties in Madison County

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Multifamily property - Separate residences combine private living space with a pool, shoreline access, and covered vehicle storage.

Where is this multifamily property located?

The property is located at 2600 & 2602 Kennedy Lane Sullivan, NY.

What is the asking price?

The asking price for this property is $574,900.

What are key features of this property?

This property features: Two separate homes on nearly one acre along Oneida Lake; 50 feet of shoreline; Remodeled lakeside home with 3 bedrooms and 2 bathrooms