Legal Two-Family Ranch
40 Bailey Road Montgomery, NY 12549
40 Bailey Road, Montgomery, NY, 12549
$675,000
For Sale
$675,000
Legal two-family ranch with a private lower entrance, multiple living spaces, and an entertainer-style backyard with basketball court.
Property Size2,900 SF
Price / SF$232.76
Days on Market81
Property Features for 40 Bailey Road
General Information
- Standard status
- Active
- Size
- 2,900 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 1967
Listing agency
Keller Williams Hudson Valley
(845) 610-6065
Listed by
Nancy E. LaBarbera
(845) 610-6065
Source
Compass
Added: May 2 Updated: Jul 21 at 7:23AM Checked: Jul 21 at 7:23AM
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 Keller Williams Hudson Valley
Investment Insights
Based on property information with market context.
This legal two-family ranch is currently configured as a spacious single-family residence, with the option to convert back to a two-family layout by adding a single interior door. The upper level features three bedrooms and two full baths, along with an updated kitchen with granite countertops, stainless steel appliances, and a cozy fireplace. A comfortable living area supports everyday use.
The lower level includes two bedrooms, a full kitchen, a large family room with fireplace, and laundry plus utility space. It also has its own private entrance leading to a covered patio and a three-season room, creating a distinct second living area within the home.
Outside, the property includes a full-size basketball court with stadium lighting, along with a backyard designed for recreation and future customization. The home is described as being conveniently located near parks, shopping, dining, major highways, commuter routes, and NYC transportation.
The lower level includes two bedrooms, a full kitchen, a large family room with fireplace, and laundry plus utility space. It also has its own private entrance leading to a covered patio and a three-season room, creating a distinct second living area within the home.
Outside, the property includes a full-size basketball court with stadium lighting, along with a backyard designed for recreation and future customization. The home is described as being conveniently located near parks, shopping, dining, major highways, commuter routes, and NYC transportation.
Key Highlights
- Legal two‑family ranch (Hi Ranch/Raised Ranch/Ranch) built in 1967 with finished basement
- Upper level: 3 bedrooms and 2 full baths with updated kitchen (granite countertops) and stainless steel appliances plus fireplace
- Lower level includes 2 bedrooms, full kitchen, large family room with fireplace, laundry/utility space, and private entrance to a covered patio and three‑season room
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $85.3k | $29.40 |
| − Vacancy | −$2.9k | −$1.01 |
| EGI | $82.3k | $28.39 |
| − OpEx | −$24.7k | −$8.52 |
| NOI | $57.6k | $19.88 |
2,900 SF · lease $29.40/SF/yr · vacancy 3.42% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$823.4K
$720.5K – $960.7K
NOI $57,641 @ 7.0% cap · market cap 8.54%
Second Best
Apartment 5plus
$774.9K
$678.1K – $904.1K
NOI $54,246 @ 7.0% cap · market cap 8.04%
Theoretical Best
Office A
$982.2K
$859.4K – $1.15M
NOI $68,754 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Legal two-family ranch with a private lower entrance, multiple living spaces, and an entertainer-style backyard with basketball court.
Where is this duplex located?
The property is located at 40 Bailey Road Montgomery, NY.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Legal two‑family ranch (Hi Ranch/Raised Ranch/Ranch) built in 1967 with finished basement; Upper level: 3 bedrooms and 2 full baths with updated kitchen (granite countertops) and stainless steel appliances plus fireplace; Lower level includes 2 bedrooms, full kitchen, large family room with fireplace, laundry/utility space, and private entrance to a covered patio and three‑season room
