581 Main Street Hobart, NY 13788
MULTI_FAMILY - Hobart, NY
Property Features for 581 Main Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bedroom 3, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1
- Exterior features
- PropaneTankLeased
- Appliances
- ElectricWaterHeater
- Standard status
- Active
- APN
- 125201-069-017-0002-007-000
- Size
- 1,344 SF
- Lot size
- 0.13 Acres
Taxes and HOA fees
- Tax Annual Amount
- 3324
Utilities
- Heating system
- Baseboard, Electric (Heating)
- Water source
- Public
Building Details
- Year built
- 1890
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Laminate, Carpet, Varies
- Building materials
- WoodSiding
Listing agent Frank Lumia License #37LU0818789 (607) 746-6029
Listing office Frank Lumia Real Estate Plus!, LLC 78 Main St, Delhi, NY (607) 746-6029
Listing date May 29, 2026
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.
Investment Insights
Based on property information with market context.
The property is located at 581 East Main Street in Hobart, Delaware County, and is described as sitting at the most visible corner in Hobart’s Book Village, a destination tied to tourism, outdoor recreation, and second-home ownership. The seller also notes that seller financing is available for well-qualified buyers.
With both a functioning cafe and two separate residential units, the layout supports an owner-operator concept where commercial income and apartment rent can help offset operating costs.
Key Highlights
- Built in 1890 with wood siding and electric baseboard heating
- Mixed‑use building with ground‑floor commercial space and two upstairs residential apartments
- Ground floor has operated as The Coffee Pot breakfast and lunch cafe for over two decades
Local Financial Insights For Specialty Retail
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 | $29.0k | $21.60 |
| − Vacancy | −$1.2k | −$0.91 |
| EGI | $27.8k | $20.69 |
| − OpEx | −$7.0k | −$5.17 |
| NOI | $20.9k | $15.52 |
