Three-Unit Multifamily
New
For Sale
$599,888
3568 State Route 55, Bethel, NY 12783
MULTI_FAMILY - Bethel, NY
Property Size2,728 SF
Lot Size1.03 Acres
Price / SF$219.90
Days on Market5
Property Features for 3568 State Route 55
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 4, Bathroom 3, Bathroom 2, Bedroom 3, Bedroom 5, Bathroom 5
View
Water
High school district
SULLIVAN WEST CENTRAL SCHOOL DISTRICT
Standard status
Active
Size
2,728 SF
Lot size
1.03 Acres
Taxes and HOA fees
Tax Annual Amount
1437
Utilities
Heating system
Natural Gas
Water source
Public
Amenities
fireplace
washer/dryer
Building Details
Year built
1950
Flooring type
Hardwood, Tile
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
LOMBARDO HOMES & ESTATES
(516) 200-6448
Listed By:
Joseph Lombardo · License #10311204851
(516) 200-6448
Added: Aug 5
Last Checked: Aug 9 at 6:06AM
MLS# 11919228
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,728-square-foot multifamily property contains three apartments with a combined five bedrooms and four bathrooms. The building offers natural-gas forced-air heat, an unfinished basement, vinyl siding, an asphalt roof, and public water. Interior finishes include hardwood and tile flooring, with a fireplace in one of the one-bedroom apartments. Each unit has its own washer and dryer, and the property includes off-street parking.
The property is located at 3568 State Route 55 in Bethel, New York, with lake views noted from the site. Three separate electric meters and three separate burners support independent apartment utility arrangements, while tenants pay their own utilities. Current unit status includes one vacant one-bedroom apartment, one leased one-bedroom apartment, and one three-bedroom apartment occupied on a month-to-month basis. Built in 1950, the property provides a three-apartment configuration for multifamily ownership.
The property is located at 3568 State Route 55 in Bethel, New York, with lake views noted from the site. Three separate electric meters and three separate burners support independent apartment utility arrangements, while tenants pay their own utilities. Current unit status includes one vacant one-bedroom apartment, one leased one-bedroom apartment, and one three-bedroom apartment occupied on a month-to-month basis. Built in 1950, the property provides a three-apartment configuration for multifamily ownership.
Key Highlights
- Three apartments totaling 2,728 square feet
- Five bedrooms and four bathrooms
- Three separate electric meters and three separate burners
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
$21,749
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
3.63%
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%
$434,980
$435.0K
Cap Rate 7%
$310,700
$310.7K
Cap Rate 9%
$241,656
$241.7K
Market Conditions
NOI Build-Up for 2,728 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
$35.0K $12.84/SF
− Vacancy
−$4.0K −$1.45/SF
EGI
$31.1K $11.39/SF
− OpEx
−$9.3K −$3.42/SF
NOI
$21.7K $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%
$434,980
Cap Rate 7%
$310,700
Cap Rate 9%
$241,656
Alternative Uses
Best Use
Multifamily LT 5
$310.7K
$271.9K – $362.5K
NOI $21,749 @ 7.0% cap · market cap 3.63%
Second Best
Apartment 5plus
$297.5K
$260.3K – $347.1K
NOI $20,826 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$748.3K
$654.7K – $873.0K
NOI $52,378 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 12783, NY
1,388
Population
1,473
Households
0.9
Avg Household Size
50
Median Age
24%
College-Educated
88%
High-School Grad
31.7 sq mi
ZIP Area
44
Density / Sq Mi
$60,781
Median Household Income
$46,989
Median Earnings
$1,354
Median Rent
$209,500
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?
Triplex - Three apartments feature separate electric meters, individual laundry equipment, and tenant-paid utilities.
Where is this triplex located?
The property is located at 3568 State Route 55 Bethel, NY.
What is the asking price?
The asking price for this property is $599,888.
What are key features of this property?
This property features: Three apartments totaling 2,728 square feet; Five bedrooms and four bathrooms; Three separate electric meters and three separate burners
