Duplex with Garage
New
For Sale
$450,000
3648 Horseshoe Drive, Valatie, NY 12184
MultiFamily, Valatie, NY
Property Size2,340 SF
Lot Size21.30 Acres
Price / SF$192.31
Days on Market2
Property Features for 3648 Horseshoe Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 2, Bedroom 1
Parking
14
Parking features
Garage, Off Street, Driveway
Patio and Porch features
Deck
Fireplace
1
Basement
Crawl Space
Lot features
Private, Level, Road Frontage, Wooded, Cul-De-Sac
Elementary school district
Kinderhook-Ichabod Crane
Middle school district
Kinderhook-Ichabod Crane
High school district
Kinderhook-Ichabod Crane
Directions
I-90 E to exit 12, continue on US-9. Take Co Rd 28 to Horseshoe Dr.
Standard status
Active
APN
104403 33.14-1-8.3
Size
2,340 SF
Lot size
21.30 Acres
Taxes and HOA fees
Tax Annual Amount
5166
Utilities
Sewer type
Septic Tank
Heating system
Oil
Water source
Well
Building Details
Year built
1970
Number of units
2
Flooring type
Carpet, Linoleum
Building materials
Wood Siding
Roof type
Shingle, Asphalt
Architectural style
Other
Additional Structures
Outbuilding
Listing Agency:
Venture Fox Realty Group LLC
(518) 290-1070
Listed By:
Erin Robilotta · License #10301223726
(518) 461-4710
Added: Aug 21
Last Checked: Aug 22 at 7:06AM
MLS# 202624527
Copyright © 2026 Global MLS, Inc. 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 duplex contains two one-bedroom units within a 2,340-square-foot property built in 1970. The structure features wood siding, carpet and linoleum flooring, oil heat, a fireplace, and a deck. Garage space, a driveway, and additional off-street parking provide room for vehicles, storage, workshops, or other projects. The shingle and asphalt roof requires replacement, an important consideration for future planning.
The property encompasses 21.3 acres in Valatie, NY, with a private well and septic tank serving the site. Its rural setting combines residential income use with substantial land and existing garage improvements.
The property encompasses 21.3 acres in Valatie, NY, with a private well and septic tank serving the site. Its rural setting combines residential income use with substantial land and existing garage improvements.
Key Highlights
- Two one‑bedroom units in a duplex configuration
- 2,340 square feet on 21.3 acres
- Built in 1970 with wood siding
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
$25,076
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
5.57%
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%
$501,520
$501.5K
Cap Rate 7%
$358,229
$358.2K
Cap Rate 9%
$278,622
$278.6K
Market Conditions
NOI Build-Up for 2,340 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
$37.9K $16.20/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$35.8K $15.31/SF
− OpEx
−$10.7K −$4.59/SF
NOI
$25.1K $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 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%
$501,520
Cap Rate 7%
$358,229
Cap Rate 9%
$278,622
Alternative Uses
Best Use
Multifamily LT 5
$358.2K
$313.5K – $417.9K
NOI $25,076 @ 7.0% cap · market cap 5.57%
Second Best
Apartment 5plus
$314.4K
$275.1K – $366.8K
NOI $22,008 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$578.9K
$506.6K – $675.4K
NOI $40,525 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
Explore this area
Business Placement
Demographics for 12184, NY
7,178
Population
3,415
Households
2.1
Avg Household Size
48
Median Age
38%
College-Educated
94%
High-School Grad
39.4 sq mi
ZIP Area
182
Density / Sq Mi
$91,616
Median Household Income
$52,946
Median Earnings
$1,131
Median Rent
$311,200
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 - Two one-bedroom units occupy a wood-sided property with substantial garage, driveway, and off-street parking.
Where is this duplex located?
The property is located at 3648 Horseshoe Drive Valatie, NY.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two one‑bedroom units in a duplex configuration; 2,340 square feet on 21.3 acres; Built in 1970 with wood siding
