Legal Two-Family Duplex with
For Sale
$425,000
31 Cottage Street, Monticello, NY 12701
Well-maintained duplex with separate apartments, landscaped grounds, hardwood floors, and a substantial detached garage.
Property Size2,000 SF
Price / SF$212.50
Days on Market18
Property Features for 31 Cottage Street
General Information
Standard status
Active
Size
2,000 SF
Total Parking Spaces
4
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,744
Building Details
Year Built
1930
Buildings
1
Units
2
Construction
Mediterranean-style stucco
Listing Agency:
Resort Realty
(845) 798-4749
Listed By:
Alla Sienitsky · License #37SI0835647
(845) 798-4749
Source:
Cohenandcohenrealty
Added: Aug 5
Changed: Aug 20
Last Checked: Aug 21 at 2:31PM
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 Resort Realty
Investment Insights
Based on property information with market context.
This legal two-family duplex offers nearly 2,000 square feet across two distinct apartments. The first-floor residence includes three bedrooms, one full bathroom, a large living room, an eat-in kitchen, two foyers, and hardwood flooring. The second-floor unit provides one bedroom, a living room, kitchen, and full bathroom. Built in 1930, the property is finished with Mediterranean-style stucco and has been maintained in good condition.
The exterior includes landscaped grounds with flower gardens and a paved driveway. An oversized 400-square-foot solid-block garage provides room for two cars or flexible workshop, storage, hobby, and utility use. The property is located at 31 Cottage Street in the Village of Monticello, with access to shopping, dining, transportation, schools, parks, and local amenities.
The exterior includes landscaped grounds with flower gardens and a paved driveway. An oversized 400-square-foot solid-block garage provides room for two cars or flexible workshop, storage, hobby, and utility use. The property is located at 31 Cottage Street in the Village of Monticello, with access to shopping, dining, transportation, schools, parks, and local amenities.
Key Highlights
- Legal two‑family duplex with nearly 2,000 square feet
- First‑floor apartment includes 3 bedrooms and hardwood floors
- Second‑floor apartment offers 1 bedroom, living room, kitchen, and full bath
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,945
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.75%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$318,900
$318.9K
Cap Rate 7%
$227,786
$227.8K
Cap Rate 9%
$177,167
$177.2K
Market Conditions
NOI Build-Up for 2,000 SF
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.
Gross rent
$25.7K $12.84/SF
− Vacancy
−$2.9K −$1.45/SF
EGI
$22.8K $11.39/SF
− OpEx
−$6.8K −$3.42/SF
NOI
$15.9K $7.97/SF
Area
Sullivan County, NY
Vacancy
11.30%
Lease Rate
$12.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$318,900
Cap Rate 7%
$227,786
Cap Rate 9%
$177,167
Alternative Uses
Best Use
Multifamily LT 5
$227.8K
$199.3K – $265.8K
NOI $15,945 @ 7.0% cap · market cap 3.75%
Second Best
Apartment 5plus
$218.1K
$190.9K – $254.5K
NOI $15,268 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$548.6K
$480.0K – $640.0K
NOI $38,400 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
809
Businesses Nearby
Explore this area
Business Placement
Demographics for 12701, NY
12,360
Population
7,188
Households
1.7
Avg Household Size
38
Median Age
23%
College-Educated
78%
High-School Grad
61.0 sq mi
ZIP Area
203
Density / Sq Mi
$56,601
Median Household Income
$35,918
Median Earnings
$989
Median Rent
$178,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with separate apartments, landscaped grounds, hardwood floors, and a substantial detached garage.
Where is this duplex located?
The property is located at 31 Cottage Street Monticello, NY.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Legal two‑family duplex with nearly 2,000 square feet; First‑floor apartment includes 3 bedrooms and hardwood floors; Second‑floor apartment offers 1 bedroom, living room, kitchen, and full bath
