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    Historic Farmhouse with Income Potential Title is generated by Realmo AI

    6188 N Main Street, Sandy Creek, NY 13145

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    Claim this Listing
    New
    For Sale
    $370,000

    MULTI_FAMILY - Sandy Creek, NY

    Property size:
    3,272 SF
    Lot size:
    30.81 Acres
    Price / SF:
    $113/SF
    Added:
    May 20, 2026
    Days on Market:
    2
    Last Refresh:
    May 21 at 6:06 pm

    Property Features for 6188 N Main Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    3
    Rooms
    Bedroom 1, Bedroom 3, Bedroom 2, Basement
    Parking features
    Garage, Driveway
    Patio and Porch features
    Porch
    Interior features
    NaturalWoodwork
    Exterior features
    DirtDriveway, GravelDriveway
    Appliances
    GasOven, GasRange, GasWaterHeater, Refrigerator
    Standard status
    Active
    APN
    355203-019-015-0002-004-000-0000
    Size
    3,272 SF
    Lot size
    30.81 Acres

    Taxes and HOA fees

    Tax Annual Amount
    4693

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Hot Water(Heating), Baseboard, Natural Gas
    Water source
    Public

    Building Details

    Year built
    1850
    Floors in Building
    3
    Number of units
    6
    Flooring type
    Carpet, Varies, Vinyl
    Building materials
    VinylSiding, WoodSiding
    Roof type
    Asphalt, Metal

    We can help!

    Listing Contact
    Karen Peebles

    Listing agent Karen Peebles License #10301210000

    Listing office Berkshire Hathaway HomeServices CNY Realty Watn 10412 US Route 11, Suite 1, Liverpool, NY

    Listing date May 20, 2026

    MLS# S1683552 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

    • Historic 1850s farmhouse with original details and unique character
    • Configured as a multi‑family rental property with 6 units, offering income potential
    • Large barn provides abundant storage and potential for hobby farm or workshops
    • Additional income from Lamar advertising signs generates approximately $9,000 annually
    • Adjoining 4+ acre parcel available for purchase, increasing acreage potential
    • Partially finished attic offers potential for expansion or additional living space

    Overview

    This 1800s farmhouse, located on the outskirts of town, presents an opportunity for investors or those interested in restoring a historic home. Currently configured as a multi-family rental property, the home features a total of 6 rental units. There are two apartments on the main floor, four studio apartments on the second floor, and an additional large unit on the third floor. Original details throughout the home include built-ins, wood finishes, and French style doors. A partially finished attic offers possibilities for future expansion. The 3,272 square foot home requires updating and restoration. Outside, a large barn provides storage space and opens the door to hobby farm potential or workshops. The property is situated on 30.81 acres. The family is currently surveying all four parcels. An additional adjoining 4+ acre parcel is also available. Lamar advertising signs located on the parcels generate approximately $9,000 annually in income. The property is located in Sandy Creek, NY.

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $278.9K
    NOI $25,101 @ 9.00% cap · cautious / downside scenario
    Moderate
    $358.6K
    NOI $25,101 @ 7.00% cap · market / base-case scenario
    Aggressive
    $502.0K
    NOI $25,101 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Apartment 5plus

    Component $ $/SF
    Gross rent $48.3k $14.76
    − Vacancy −$2.7k −$0.81
    EGI $45.6k $13.95
    − OpEx −$20.5k −$6.28
    NOI $25.1k $7.67
    3,272 SF · lease $14.76/SF/yr · vacancy 5.50% · expense 45.00%

    Alternative Use Scenarios

    Best Use
    Apartment 5plus
    $358.6K
    $313.8K – $418.4K (±1% cap)
    NOI $25,101 @ 7.0% cap · market cap 6.78%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $652.6K
    $571.1K – $761.4K (±1% cap)
    NOI $45,684 @ 7.0% cap · market cap 12.35%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Sandy Creek
    County
    Oswego
    State
    New York
    Longitude
    -76.083635
    Latitude
    43.651877

    FAQs

    What type of property is this?
    Apartment building - 1800s farmhouse with 6 units, barn, and acreage.
    Where is this apartment building located?
    The property is located at 6188 N Main Street Sandy Creek, NY.
    What is the asking price?
    The asking price for this property is $370,000.
    What are key features of this property?
    This property features: Historic 1850s farmhouse with original details and unique character; Configured as a multi‑family rental property with 6 units, offering income potential; Large barn provides abundant storage and potential for hobby farm or workshops
    (315) 778-1290
    We can help!
    Listing Contact
    Karen Peebles
    Real Estate License ID: 10301210000
    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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