Triplex Retreat with Main
For Sale
$724,000
Pending
3595 Military Road, Newport, NY 13416
MULTI_FAMILY - Other - Newport, NY
Property Size3,854 SF
Lot Size18.00 Acres
Days on Market216
Property Features for 3595 Military Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential Multi Use
Bedrooms
8
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 7, Bathroom 2, Bathroom 3, Bathroom 5, Bathroom 4, Bedroom 2, Bedroom 1, Bedroom 6, Bedroom 8, Bathroom 1, Bedroom 4, Bedroom 3, Basement, Bedroom 5
Window features
Skylight(s), Drapes
Patio and Porch features
Deck
Interior features
CeilingFans, CathedralCeilings, Skylights, NaturalWoodwork, WindowTreatments, BedroomOnMainLevel
Exterior features
Balcony, Deck, PropaneTankOwned
Fireplace
1
Accessibility
Accessible Approach with Ramp
Appliances
PropaneWaterHeater
Lot features
Irregular Lot, Rural Lot, Secluded, Wooded
Elementary school district
West Canada Valley
Middle school district
West Canada Valley
High school district
West Canada Valley
Subdivision
Norway-214000
Standard status
Pending
APN
214000-089-004-0001-068-900-0000
Size
3,854 SF
Lot size
18.00 Acres
Taxes and HOA fees
Tax Annual Amount
9525
Utilities
Sewer type
Septic Tank
Heating system
Other (Heating), Space Heater, Electric (Heating), Heat Pump (Heating), Propane (Heating), Radiant, Wood
Cooling system
Heat Pump, Window Unit(s), Wall Unit(s)
Water source
Well
Water front features
River Access, Stream
Water front
1
Building Details
Year built
1991
Floors in Building
2
Number of units
3
Flooring type
Varies, Laminate, Tile, Carpet, Hardwood, Vinyl
Building materials
AtticCrawlHatchwaysInsulated, BlownInInsulation, LogSiding, WoodSiding, PexPlumbing
Roof type
Shingle, Asphalt, Metal
Architectural style
Other
Listing Agency:
Coldwell Banker Faith Properties · Coldwell Banker Real Estate
(315) 735-2222
Listed By:
Nicole Seeney · License #10401395709
(315) 558-8962
Added: Jan 5
Changed: Aug 6
Last Checked: Aug 9 at 5:06PM
MLS# S1656245
Copyright © 2026 New York State Alliance of MLSs, LLC. 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.
Set on 18+ acres near the Adirondacks, this multi-unit retreat includes a main chalet plus a guest cabin with two additional living suites. The main chalet offers 3 bedrooms, 2 full bathrooms, and a full basement. Interior highlights include a chef’s kitchen and a doorless wet room shower on the main level.
The guest cabin features two living suites: one suite with 2 bedrooms, 1 full bathroom, and a full kitchen, and a second suite with 3–4 bedrooms, 2 full bathrooms, and hookups for an additional kitchen. A two-level barn with a half bathroom provides added storage and utility space. The property includes a heated 2-car garage and a new water boiler.
Energy and reliability are supported by an advanced net-metering energy system with public utility access, on-site hydroelectric power, robust battery storage, and a diesel generator for backup. The home is served by a well and septic tank, with metal, shingle, and asphalt roofing, and includes river access and a stream.
The guest cabin features two living suites: one suite with 2 bedrooms, 1 full bathroom, and a full kitchen, and a second suite with 3–4 bedrooms, 2 full bathrooms, and hookups for an additional kitchen. A two-level barn with a half bathroom provides added storage and utility space. The property includes a heated 2-car garage and a new water boiler.
Energy and reliability are supported by an advanced net-metering energy system with public utility access, on-site hydroelectric power, robust battery storage, and a diesel generator for backup. The home is served by a well and septic tank, with metal, shingle, and asphalt roofing, and includes river access and a stream.
Key Highlights
- 18+ acres near the Adirondacks with main chalet plus guest cabin suites
- Main chalet: 3 bedrooms, 2 full bathrooms, and a full basement
- Guest cabin includes two suites: 2‑bedroom/1‑bath full kitchen plus 3–4‑bedroom/2‑bath suite with kitchen hookups
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
Multifamily LT 5
$393.3K
$344.2K – $458.9K
NOI $27,534 @ 7.0% cap · market cap 3.80%
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
Lease Details
3
Residential units
Yes
Utilities to site
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - 18-acre multi-unit retreat with main chalet and guest cabin suites, powered by net-metering energy, hydroelectric power, battery storage, and backup generator.
Where is this triplex located?
The property is located at 3595 Military Road 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 near the Adirondacks with main chalet plus guest cabin suites; Main chalet: 3 bedrooms, 2 full bathrooms, and a full basement; Guest cabin includes two suites: 2‑bedroom/1‑bath full kitchen plus 3–4‑bedroom/2‑bath suite with kitchen hookups
