Duplex and Farmhouse
For Sale
$499,000
42204 State Hwy 28, Margaretville, NY 12455
Two occupied apartments provide rental income alongside a four-bedroom farmhouse with a fireplace and enclosed front porch.
Property Size1,664 SF
Price / SF$299.88
Days on Market74
Property Features for 42204 State Hwy 28
General Information
Standard status
Active
Size
1,664 SF
Property subtype
Residential Income
Zoning
GV, Grandview, mixed use-historic distri
Units
Multifamily Units
3
Individually Metered Utilities
unspecified utilities
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$5,326
Amenities
Beamed Ceilings
Ceiling Fan(s)
Coffered Ceiling(s)
Eat-in Kitchen
High Ceilings
Dual Closets
High Speed Internet
Laminate Counters
Natural Woodwork
Pantry
Storage
Sun Room
Lighting
Private Entrance
Private Yard
Rain Gutters
Paved Walkway
Building Details
Building Size
1,664 SF
Year Built
1889
Buildings
2
Stories
2
Units
3
Listing Agency:
Harring Properties, LLC
Listed By:
Beth Harring
(518) 929-9186
Source:
Harringproperties
Added: Aug 23
Changed: Nov 3
Last Checked: Nov 3 at 2:43PM
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 Harring Properties, LLC
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Investment Insights
Based on property information with market context.
This property pairs an 1889 farmhouse with a separate two-story rental building. The 1,554-square-foot farmhouse has four bedrooms, two bathrooms, an eat-in kitchen, formal dining room, and living room with a raised-hearth wood-burning fireplace. An enclosed porch spans the front, while the attic, dry basement, and garage with upper-level storage add space for belongings. The farmhouse has been used as a short-term rental by the current owners between personal stays.
The 1,500-square-foot rental building contains two matching two-bedroom apartments, both occupied by long-term tenants. Each unit has separate utilities, and tenants pay their own heat and electric. The property sits on more than an acre in Margaretville, within walking distance of village shops, restaurants, and a supermarket. Belleayre Ski Center, Pepacton Reservoir, and hiking trails are described as minutes away.
The 1,500-square-foot rental building contains two matching two-bedroom apartments, both occupied by long-term tenants. Each unit has separate utilities, and tenants pay their own heat and electric. The property sits on more than an acre in Margaretville, within walking distance of village shops, restaurants, and a supermarket. Belleayre Ski Center, Pepacton Reservoir, and hiking trails are described as minutes away.
Key Highlights
- 1889 farmhouse with 1,554 square feet and four bedrooms
- Separate 1,500‑square‑foot, two‑story rental building
- Two matching two‑bedroom apartments, both occupied by long‑term tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,300
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$386,000
$386.0K
Cap Rate 7%
$275,714
$275.7K
Cap Rate 9%
$214,444
$214.4K
Market Conditions
NOI Build-Up for 1,664 SF
Gross rent
$31.9K $19.20/SF
− Vacancy
−$4.4K −$2.63/SF
EGI
$27.6K $16.57/SF
− OpEx
−$8.3K −$4.97/SF
NOI
$19.3K $11.60/SF
Area
Delaware County, NY
Vacancy
13.70%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$386,000
Cap Rate 7%
$275,714
Cap Rate 9%
$214,444
Alternative Uses
Best Use
Multifamily LT 5
$275.7K
$241.3K – $321.7K
NOI $19,300 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$252.3K
$220.8K – $294.4K
NOI $17,662 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$816.4K
$714.4K – $952.5K
NOI $57,148 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
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Business Placement
Demographics for 12455, NY
1,820
Population
1,697
Households
1.1
Avg Household Size
56
Median Age
27%
College-Educated
91%
High-School Grad
71.3 sq mi
ZIP Area
26
Density / Sq Mi
$74,271
Median Household Income
$34,531
Median Earnings
$1,297
Median Rent
$219,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two occupied apartments provide rental income alongside a four-bedroom farmhouse with a fireplace and enclosed front porch.
Where is this duplex located?
The property is located at 42204 State Hwy 28 Margaretville, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 1889 farmhouse with 1,554 square feet and four bedrooms; Separate 1,500‑square‑foot, two‑story rental building; Two matching two‑bedroom apartments, both occupied by long‑term tenants
