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    Dundee Multifamily Investment Opportunity Title is generated by Realmo AI

    4917 Hillcrest Drive, Dundee, NY 14837

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    Claim this Listing
    Pending
    $650,000

    COMMERCIAL - Dundee, NY

    Property size:
    7,600 SF
    Lot size:
    1.27 Acres
    Added:
    Feb 5, 2026
    Days on Market:
    98
    Last Refresh:
    May 14 at 11:06 am

    Property Features for 4917 Hillcrest Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bedrooms
    13
    Rooms
    Bedroom 11, Bedroom 6, Bedroom 2, Bedroom 3, Bedroom 8, Bedroom 10, Bedroom 1, Bedroom 13, Bedroom 4, Bedroom 5, Bedroom 7, Bedroom 12, Bedroom 9
    Parking features
    Garage
    Security features
    Security
    Exterior features
    GravelDriveway
    Appliances
    ElectricCooktop, ElectricWaterHeater, Refrigerator
    Standard status
    Pending
    APN
    573401-113-071-0001-003-000-0000
    Size
    7,600 SF
    Lot size
    1.27 Acres

    Taxes and HOA fees

    Tax Annual Amount
    17805

    Utilities

    Heating system
    Baseboard, Electric (Heating)
    Water source
    Public

    Building Details

    Year built
    1961
    Floors in Building
    2
    Number of units
    13
    Flooring type
    Carpet, Tile, Varies
    Building materials
    WoodSiding
    Roof type
    Membrane, Asphalt, Rubber

    We can help!

    Listing Contact
    Seth C. Skelly

    Listing agent Seth C. Skelly License #10401374508

    Listing office Wine Trail Properties, LLC 132 Main Street, Penn Yan, NY

    Listing date Feb 5, 2026

    MLS# R1661207 Listing URL

    Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Investor‑ready 13‑unit apartment building with immediate cash flow.
    • Approximately 8.9% cap rate with potential for increased returns.
    • Rare opportunity to acquire a property of this size.
    • Includes owner's suite or on‑site manager's quarters.
    • Ample off‑street parking.
    • On‑site laundry and security system.

    Overview

    This investor-ready property in Dundee, NY, features a 13-unit apartment building offering immediate cash flow. Situated on a 1.27-acre lot, the 7,600 square foot property includes an owner's suite or potential on-site manager's quarters. The property has on-site laundry, a security system, and ample off-street parking. Updates have been made throughout the building. The property currently performs at approximately an 8.9% cap rate, with additional upside through continued unit improvements.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Dundee
    County
    Yates
    State
    New York
    Longitude
    -76.98308
    Latitude
    42.527222

    Nearby Similar for Sale

    • $550,000
      2,112 SF

      Dundee Commercial Property on Wine Trail

      2+ acre commercial property on the Finger Lakes Wine Trail.
      5090 State Route 14 Highway, Dundee, NY 14837
      View Details
    • $650,000

      13-Unit Apartment Building For Sale

      Investor-ready apartment building with immediate cash flow in a strong market.
      4917 Hillcrest Dr, Dundee, NY 14837
      View Details
    • $1,525,000
      11,030 SF

      Brewery/Event Space Near Watkins Glen

      22-acre compound with indoor/outdoor space near Watkins Glen.
      5428 State Route 14, Dundee, NY 14837
      View Details

    FAQs

    What type of property is this?
    Apartment building - Investor-ready 13-unit apartment building in a strong rental market.
    Where is this apartment building located?
    The property is located at 4917 Hillcrest Drive Dundee, NY.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: Investor‑ready 13‑unit apartment building with immediate cash flow.; Approximately 8.9% cap rate with potential for increased returns.; Rare opportunity to acquire a property of this size.
    (315) 882-2343
    We can help!
    Listing Contact
    Seth C. Skelly
    Real Estate License ID: 10401374508
    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.

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