Multifamily Property with Guest
For Sale
$724,000
Pending
3595 MILITARY RD, Newport, NY 13416
Chalet, cabin, barn, waterfront access, and independent energy infrastructure create a flexible multi-unit residential compound.
Property Size3,854 SF
Days on Market313
Property Features for 3595 MILITARY RD
General Information
Standard status
Pending
Size
3,854 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$9,525
Amenities
Window Air Conditioning, Electric, Heat Pump, Wall Air Conditioning, Ceiling Fan(s)
Full
3
Hardwood, Tile, Ceramic Tile, Vinyl, Laminate, Carpet
Stove
Radon Mitigation, Natural Woodwork, Internet Connection, Cable Available, Window Treatment, Window Drapes-curtains, Skylight, Cathedral/vaulted Ceiling
Metal, Asphalt, Shingle, Pitched
Balcony, Deck
Deck. Lot with Trees. Water Access. Waterfront.
2 Garage Spaces. Paved Driveway, Shared Driveway, Gravel.
Wood, Log
Irregular
661X0
River Access, Stream, Exterior Lighting. Secluded, Irregular, Wooded.
Building Details
Year Built
1991
Listing Agency:
(315) 735-2222
Listed By:
Coldwell Banker Faith Properties
(315) 558-8962
Source:
Xome
Added: Oct 23, 2025
Changed: Aug 29
Last Checked: Aug 30 at 1:33PM
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 Coldwell Banker Faith Properties
Investment Insights
Based on property information with market context.
This multifamily property combines a primary chalet, a separate guest cabin, and a two-level barn on 18+ acres. The main residence includes 3 bedrooms, 2 full bathrooms, a full basement, a chef’s kitchen, and a main-level wet room shower. The cabin adds two living suites: one with 2 bedrooms, 1 full bathroom, and a full kitchen, and another with 3-4 bedrooms, 2 full bathrooms, and hookups for an additional kitchen. A half bath in the barn, heated 2-car garage, decks, balcony, paved and gravel drive areas, and extensive storage support the overall configuration.
Energy infrastructure includes net metering, public utility access, on-site hydroelectric power, battery storage, and a diesel generator. The property also features a new water boiler, wooded grounds, river and stream access, and public roads maintained by the town. Built in 1991, it is located at 3595 Military Rd in Newport, New York, near snowmobile trails.
Energy infrastructure includes net metering, public utility access, on-site hydroelectric power, battery storage, and a diesel generator. The property also features a new water boiler, wooded grounds, river and stream access, and public roads maintained by the town. Built in 1991, it is located at 3595 Military Rd in Newport, New York, near snowmobile trails.
Key Highlights
- 18+ ACRES with wooded grounds and river and stream access
- Main chalet offers 3 bedrooms, 2 full bathrooms, and a full basement
- Guest cabin contains two living suites with 2 bedrooms and 3‑4 bedrooms
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
$28,051
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
3.87%
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%
$561,020
$561.0K
Cap Rate 7%
$400,729
$400.7K
Cap Rate 9%
$311,678
$311.7K
Market Conditions
NOI Build-Up for 3,854 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
$55.5K $14.40/SF
− Vacancy
−$4.5K −$1.17/SF
EGI
$51.0K $13.23/SF
− OpEx
−$23.0K −$5.96/SF
NOI
$28.1K $7.28/SF
Area
Herkimer County, NY
Vacancy
8.10%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
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%
$561,020
Cap Rate 7%
$400,729
Cap Rate 9%
$311,678
Alternative Uses
Best Use
Apartment 5plus
$400.7K
$350.6K – $467.5K
NOI $28,051 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,299 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 13416, NY
2,099
Population
973
Households
2.2
Avg Household Size
44
Median Age
18%
College-Educated
92%
High-School Grad
50.3 sq mi
ZIP Area
42
Density / Sq Mi
$83,125
Median Household Income
$46,607
Median Earnings
$738
Median Rent
$160,000
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?
Multifamily property - Chalet, cabin, barn, waterfront access, and independent energy infrastructure create a flexible multi-unit residential compound.
Where is this multifamily property located?
The property is located at 3595 MILITARY RD Newport, NY.
What is the asking price?
The asking price for this property is $724,000.
What are key features of this property?
This property features: 18+ ACRES with wooded grounds and river and stream access; Main chalet offers 3 bedrooms, 2 full bathrooms, and a full basement; Guest cabin contains two living suites with 2 bedrooms and 3‑4 bedrooms
