Multi-Residence Short-Term Rental
New
For Sale
$3,495,000
38 Sigler Road, Pine Plains, NY 12567
The Post & Beam residence has operated as a vacation rental when not occupied by its owners.
Property Size6,860 SF
Price / SF$509.48
Days on Market2
Property Features for 38 Sigler Road
General Information
Standard status
Active
Size
6,860 SF
Total Parking Spaces
15
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$21,075
Building Details
Year Built
1930
Listing Agency:
Houlihan Lawrence, Inc
(516) 517-2400
Listed By:
Anthony Dargenzio (aDargenzio@houlihanlawrence.com)
Source:
Educatorsrealty
Added: Oct 30
Changed: Oct 31
Last Checked: Oct 31 at 3:12AM
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 Houlihan Lawrence, Inc
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Investment Insights
Based on property information with market context.
Four residences totaling 6,860 square feet sit across nearly 40 acres: a restored Post & Beam home, a cottage, a studio, and a Main House awaiting restoration. Together, the homes contain 10 bedrooms and seven baths. A renovated Dutch barn includes a workshop, office, and loft; other outbuildings include a three-car garage, root cellars, and a chicken coop. The property also has a heated 50-foot saltwater pool, walking trails, stone walls, and a whole-house generator with new 800-amp combined service.
The Post & Beam home has operated as a vacation rental when not used by the owners. The residences and accessory buildings offer distinct spaces, including a studio and workshop. The Main House has a separate address and private driveway, as does the cottage. The pool was completed in 2021.
The Post & Beam home has operated as a vacation rental when not used by the owners. The residences and accessory buildings offer distinct spaces, including a studio and workshop. The Main House has a separate address and private driveway, as does the cottage. The pool was completed in 2021.
Key Highlights
- Nearly 40 acres with four residences totaling 6,860 square feet
- 10 bedrooms and seven baths across the residences
- Heated 50‑foot saltwater pool completed in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$117,853
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,357,060
$2.4M
Cap Rate 7%
$1,683,614
$1.7M
Cap Rate 9%
$1,309,478
$1.3M
Market Conditions
NOI Build-Up for 6,860 SF
Gross rent
$225.6K $32.88/SF
− Vacancy
−$11.3K −$1.64/SF
EGI
$214.3K $31.24/SF
− OpEx
−$96.4K −$14.06/SF
NOI
$117.9K $17.18/SF
Area
Dutchess County, NY
Vacancy
5.00%
Lease Rate
$32.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,357,060
Cap Rate 7%
$1,683,614
Cap Rate 9%
$1,309,478
Alternative Uses
Best Use
Apartment 5plus
$1.68M
$1.47M – $1.96M
NOI $117,853 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.06M
$1.81M – $2.41M
NOI $144,549 @ 7.0% cap · market cap 4.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 12567, NY
2,564
Population
1,434
Households
1.8
Avg Household Size
50
Median Age
42%
College-Educated
91%
High-School Grad
46.0 sq mi
ZIP Area
56
Density / Sq Mi
$95,982
Median Household Income
$53,140
Median Earnings
$1,455
Median Rent
$329,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Short term rental property - The Post & Beam residence has operated as a vacation rental when not occupied by its owners.
Where is this short term rental property located?
The property is located at 38 Sigler Road Pine Plains, NY.
What is the asking price?
The asking price for this property is $3,495,000.
What are key features of this property?
This property features: Nearly 40 acres with four residences totaling 6,860 square feet; 10 bedrooms and seven baths across the residences; Heated 50‑foot saltwater pool completed in 2021
