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    Richmondville Income-Producing Multi-Family Property Title is generated by Realmo AI

    401 State Route 7, Richmondville, NY 12149

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    For Sale
    $299,900

    MULTI_FAMILY - Other - Richmondville, NY

    Property size:
    2,672 SF
    Lot size:
    3.00 Acres
    Price / SF:
    $112/SF
    Added:
    Feb 5, 2026
    Days on Market:
    102
    Last Refresh:
    May 18 at 7:06 pm

    Property Features for 401 State Route 7

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    3
    Rooms
    Bedroom 5, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 3, Bedroom 1, Bedroom 2, Bedroom 6
    Parking
    6
    Parking features
    Driveway
    Patio and Porch features
    Porch
    Interior features
    Solid Surface Counters, High Speed Internet
    Fireplace
    1
    Basement
    Partial, Crawl Space, Unfinished
    Standard status
    Active
    APN
    434089 77-2-27
    Size
    2,672 SF
    Lot size
    3.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    6074

    Utilities

    Utilities
    Cable Available
    Sewer type
    Septic Tank
    Heating system
    Baseboard, Oil, Radiant, Pellet Stove, Propane (Heating)
    Cooling system
    Window Unit(s)
    Water source
    Well

    Building Details

    Year built
    1899
    Number of units
    2
    Building materials
    Drywall
    Roof type
    Shingle, Asphalt
    Architectural style
    Other
    Additional Structures
    Guest House

    We can help!

    Listing Contact
    Lynnette J Butler

    Listing agent Lynnette J Butler License #10401375483

    Listing office Country Boy Realty 753 E Main St, Cobleskill, NY

    Listing date Feb 5, 2026

    MLS# 202611579 Listing URL

    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.

    HighLights

    • Two separate homes on 3 private acres, offering versatile options.
    • Excellent income‑producing opportunity with dual rental potential.
    • Main residence: Charming 1800s Colonial with 4 bedrooms, 2 full baths, beautiful flooring, exposed wood beams, and a pellet stove.
    • Second home: Includes 2 bedrooms and 1 full bath, ideal for rental, guest house.
    • Both homes feature separate utilities and washer/dryer hookups.
    • Conveniently located in Richmondville, close to popular attractions.

    Overview

    This income-producing property features two separate homes on 3 acres in Richmondville. The property includes a total of 6 bedrooms and 3 full baths. The main residence is a Colonial home built in the 1800s, offering 4 bedrooms and 2 full baths. It features flooring, exposed wood beams in the dining area, ceiling fans, and a kitchen with cabinetry. A pellet stove provides heating. A covered front porch overlooks the surroundings. The second home includes 2 bedrooms and 1 full bath, suitable for rental or use as a guest house. Both homes have their own washer and dryer and separate utilities. Additional features include a storage shed and a fenced area. The property is located in Richmondville, Schoharie County, near attractions such as Howe Caverns, Secret Caverns, the Iroquois Museum, and Kymar Farm Distillery. The property offers potential for generating income from rentals.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Building Supply Hair Salon Home Appliance Store Plumbing Service Pet Store Pet Store & Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Richmondville
    County
    Schoharie
    State
    New York
    Longitude
    -74.606152
    Latitude
    42.651695

    FAQs

    What type of property is this?
    Duplex - Two homes on 3 acres, ideal for income or living.
    Where is this duplex located?
    The property is located at 401 State Route 7 Richmondville, NY.
    What is the asking price?
    The asking price for this property is $299,900.
    What are key features of this property?
    This property features: Two separate homes on 3 private acres, offering versatile options.; Excellent income‑producing opportunity with dual rental potential.; Main residence: Charming 1800s Colonial with **4 bedrooms, 2 full baths, beautiful flooring, exposed wood beams, and a pellet stove.**
    (518) 231-8506
    We can help!
    Listing Contact
    Lynnette J Butler
    Real Estate License ID: 10401375483
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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