Philmont Two-Unit Investment
For Sale
$285,000
52 Main Street, Philmont, NY 12565
Turnkey two-unit property with positive cash flow and mountain views.
Property Size1,566 SF
Price / SF$181.99
Days on Market158
Property Features for 52 Main Street
General Information
Standard status
Active
Size
1,566 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$3,826
Building Details
Building Size
1,566 SF
Year Built
1894
Listing Agency:
Davala Real Estate, LLC
(518) 755-2385
Listed By:
Heather Davala · License #10301219530
Source:
Stonehouseproperties
Added: Mar 28
Changed: Aug 23
Last Checked: Aug 30 at 9:29PM
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 Davala Real Estate, LLC
Investment Insights
Based on property information with market context.
Located in the Village of Philmont, this two-unit property presents an investment opportunity with positive cash flow. Each unit includes 2 bedrooms and 1 full bath, along with updated interiors. Outdoor living spaces are provided, with a private porch for one apartment and a balcony for the other. One of the apartments features views of the Catskill Mountain range. Both units are currently rented, offering immediate income. As one of the last row houses in the village, the property combines historic charm with updates and village convenience. The property is an income-producing opportunity. Additional features include a dedicated off-road driveway and public water and sewer. The property size is 1566 square feet.
Key Highlights
- Immediate positive cash flow from two currently rented units.
- Sweeping Catskill Mountain views from Apartment Two's balcony.
- Turnkey property with updated interiors and exterior.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,782
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.89%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$335,640
$335.6K
Cap Rate 7%
$239,743
$239.7K
Cap Rate 9%
$186,467
$186.5K
Market Conditions
NOI Build-Up for 1,566 SF
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.
Gross rent
$25.4K $16.20/SF
− Vacancy
−$1.4K −$0.89/SF
EGI
$24.0K $15.31/SF
− OpEx
−$7.2K −$4.59/SF
NOI
$16.8K $10.72/SF
Area
Columbia County, NY
Vacancy
5.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$335,640
Cap Rate 7%
$239,743
Cap Rate 9%
$186,467
Alternative Uses
Best Use
Multifamily LT 5
$239.7K
$209.8K – $279.7K
NOI $16,782 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$210.4K
$184.1K – $245.5K
NOI $14,728 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$387.4K
$339.0K – $452.0K
NOI $27,121 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
Explore this area
Business Placement
Demographics for 12565, NY
1,402
Population
744
Households
1.9
Avg Household Size
43
Median Age
26%
College-Educated
97%
High-School Grad
1.4 sq mi
ZIP Area
1,001
Density / Sq Mi
$62,972
Median Household Income
$32,734
Median Earnings
$1,036
Median Rent
$215,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Turnkey two-unit property with positive cash flow and mountain views.
Where is this duplex located?
The property is located at 52 Main Street Philmont, NY.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Immediate positive cash flow from two currently rented units.; Sweeping Catskill Mountain views from Apartment Two's balcony.; Turnkey property with updated interiors and exterior.
