Building Details

Building Size 2,400 SF

Year Built 1986

Year Renovated 2019

Tenancy Multi

Listing Agency: Coldwell Banker Commercial Whitbeck

Listed By: Kimberly Llewellyn · License #10301209351 Show Phone

Source: Commercialcafe

Added: May 8 Changed: Oct 26 Last Checked: Oct 28 at 4:43AM

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Investment Insights

Based on property information with market context.

This turnkey duplex offers two separate residential units on a private lot. Each unit features 2 bedrooms and 1.5 baths, along with private covered porches. The property was completely updated in 2019, and the units include in-unit washer and dryer with functional layouts and separate living spaces.

The duplex is located at 2973 State Route 11 in Mooers Forks, NY. Ample parking is available on site.

Designed for both rental generation and owner-occupancy, the property provides a straightforward two-unit configuration with modernized updates and immediate occupancy.

Key Highlights

• Duplex built in 1986 with two 2‑bedroom, 1.5‑bath units on a private lot
• Completely updated in 2019 and ready for immediate occupancy
• Each unit has private covered porches and in‑unit washer and dryer

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,491

Cap Rate

7.88%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$409,820 $409.8K

Cap Rate 7%

$292,729 $292.7K

Cap Rate 9%

$227,678 $227.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,400 SF

Gross rent

$31.7K $13.20/SF

− Vacancy

−$2.4K −$1.00/SF

EGI

$29.3K $12.20/SF

− OpEx

−$8.8K −$3.66/SF

NOI

$20.5K $8.54/SF

Area

Clinton County, NY

Vacancy

7.60%

Lease Rate

$13.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$409,820

Cap Rate 7%

$292,729

Cap Rate 9%

$227,678

Alternative Uses

Best Use

Multifamily LT 5

$292.7K

$256.1K – $341.5K (±1% cap)

NOI $20,491 @ 7.0% cap · market cap 7.88%

Second Best

Apartment 5plus

$260.2K

$227.7K – $303.6K (±1% cap)

NOI $18,216 @ 7.0% cap · market cap 7.01%

Theoretical Best

Office A

$661.6K

$578.9K – $771.8K (±1% cap)

NOI $46,310 @ 7.0% cap · market cap 17.81%

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

Property Analytics

Lease Details

2

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

26

Businesses Nearby

Explore this area Business Placement

Demographics for 12959, NY

1,382

Population

927

Households

1.5

Avg Household Size

45

Median Age

15%

College-Educated

88%

High-School Grad

42.6 sq mi

ZIP Area

32

Density / Sq Mi

$68,813

Median Household Income

$52,344

Median Earnings

$193,800

Median Home Value

Market

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?

Duplex - Well-maintained duplex on a private lot with two 2-bedroom units, each offering covered porches and in-unit washer and dryer.

Where is this duplex located?

The property is located at 2973 State Route 11 Mooers Forks, NY.

What is the asking price?

The asking price for this property is $260,000.

What are key features of this property?

This property features: Duplex built in 1986 with two 2‑bedroom, 1.5‑bath units on a private lot; Completely updated in 2019 and ready for immediate occupancy; Each unit has private covered porches and in‑unit washer and dryer