Building Details

Year Built 1940

Units 3

Construction bungalow

Listing Agency: Coldwell Banker Village Green

Listed By: Nicole Polito · License #10301220843 Show Phone

Source: Compass

Added: Sep 19 Changed: Oct 25 Last Checked: Nov 1 at 8:42AM

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Investment Insights

Based on property information with market context.

This multifamily property includes three cottages currently in use and a fourth cottage used for storage. The fourth structure may be restored as an additional residence. The property also contains a garage, a separate shed, and a community room for shared recreation or gatherings.

The cottages and accessory buildings sit on 11 acres in Woodbourne, New York. The property is zoned RES-MULTI and was built in 1940. Its 3,008 square feet of property size is reported in the listing data.

Key Highlights

• 11‑acre multifamily property in Woodbourne, New York
• Three cottages currently in use
• Fourth cottage used for storage, with restoration potential for an additional residence

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,963

Cap Rate

4.29%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$459,260 $459.3K

Cap Rate 7%

$328,043 $328.0K

Cap Rate 9%

$255,144 $255.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,008 SF

Gross rent

$45.5K $15.12/SF

− Vacancy

−$3.7K −$1.24/SF

EGI

$41.8K $13.88/SF

− OpEx

−$18.8K −$6.25/SF

NOI

$23.0K $7.63/SF

Area

Sullivan County, NY

Vacancy

8.20%

Lease Rate

$15.12 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$459,260

Cap Rate 7%

$328,043

Cap Rate 9%

$255,144

Alternative Uses

Best Use

Apartment 5plus

$328.0K

$287.0K – $382.7K (±1% cap)

NOI $22,963 @ 7.0% cap · market cap 4.29%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$825.1K

$721.9K – $962.6K (±1% cap)

NOI $57,754 @ 7.0% cap · market cap 10.80%

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

Property Analytics

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Open Analytics

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

5

Businesses Nearby

Explore this area Business Placement

Demographics for 12788, NY

3,596

Population

1,341

Households

2.7

Avg Household Size

45

Median Age

16%

College-Educated

79%

High-School Grad

22.2 sq mi

ZIP Area

162

Density / Sq Mi

$86,176

Median Household Income

$58,102

Median Earnings

$907

Median Rent

$255,900

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?

Multifamily property - Three cottages are in use, with a fourth currently serving as storage and offering restoration potential.

Where is this multifamily property located?

The property is located at 376 Cypert Road Woodbourne, NY.

What is the asking price?

The asking price for this property is $535,000.

What are key features of this property?

This property features: 11‑acre multifamily property in Woodbourne, New York; Three cottages currently in use; Fourth cottage used for storage, with restoration potential for an additional residence