Building Details

Year built 1915

Floors in Building 2

Flooring type Hardwood

Roof type Asphalt

Additional Structures Outbuilding

Buildings 1

Listing Agency: THE TRUSS GROUP LLC Show Phone

Listed By: Justice Suafoa

Added: Oct 29 Last Checked: Oct 31 at 12:06PM

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MLS# 12045942

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Investment Insights

Based on property information with market context.

Built in 1915, this side-by-side duplex contains 2,516 square feet on a 0.48-acre parcel. Interior features include hardwood floors, high ceilings, original staircases, doors and trim, along with a windowed attic reached by a walk-up. The roof was redone in 2011. One side requires a new furnace and hot water heater.

An in-ground pool with a liner and a safety cover installed in 2023 are located on the property. A paved parking area is set behind the building. The property is within walking distance of Chatham restaurants, cafes, shops and schools.

Key Highlights

• Side‑by‑side, two‑family property built in 1915
• 2,516 square feet of interior space
• 0.48‑acre lot with an in‑ground pool

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,962

Cap Rate

6.83%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$539,240 $539.2K

Cap Rate 7%

$385,171 $385.2K

Cap Rate 9%

$299,578 $299.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,516 SF

Gross rent

$40.8K $16.20/SF

− Vacancy

−$2.2K −$0.89/SF

EGI

$38.5K $15.31/SF

− OpEx

−$11.6K −$4.59/SF

NOI

$27.0K $10.72/SF

Area

Columbia County, NY

Vacancy

5.50%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$539,240

Cap Rate 7%

$385,171

Cap Rate 9%

$299,578

Alternative Uses

Best Use

Multifamily LT 5

$385.2K

$337.0K – $449.4K (±1% cap)

NOI $26,962 @ 7.0% cap · market cap 6.83%

Second Best

Apartment 5plus

$338.0K

$295.8K – $394.4K (±1% cap)

NOI $23,663 @ 7.0% cap · market cap 5.99%

Theoretical Best

Office A

$622.5K

$544.7K – $726.2K (±1% cap)

NOI $43,573 @ 7.0% cap · market cap 11.03%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

409

Businesses Nearby

Explore this area Business Placement

Demographics for 12037, NY

3,895

Population

2,035

Households

1.9

Avg Household Size

51

Median Age

47%

College-Educated

95%

High-School Grad

36.2 sq mi

ZIP Area

108

Density / Sq Mi

$93,990

Median Household Income

$50,471

Median Earnings

$1,006

Median Rent

$345,400

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 - Hardwood flooring, original woodwork and a walk-up attic add character to the two-unit property.

Where is this duplex located?

The property is located at 35 Hoffman St Chatham, NY.

What is the asking price?

The asking price for this property is $395,000.

What are key features of this property?

This property features: Side‑by‑side, two‑family property built in 1915; 2,516 square feet of interior space; 0.48‑acre lot with an in‑ground pool