Two-Unit Duplex With In-Law
For Sale
$1,037,000
81 Rodgers Lane, Saratoga Springs, NY 12866
MULTI_FAMILY - Saratoga Springs, NY
Property Size2,400 SF
Lot Size0.12 Acres
Price / SF$432.08
Days on Market130
Property Features for 81 Rodgers Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 3, Bedroom 4, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2
Parking
5
Parking features
Garage
Interior features
Vaulted Ceiling(s), Walk-In Closet(s)
Basement
Walk-Out Access, Apartment, Exterior Entry, Finished
Elementary school
Stillwater
High school
Stillwater
Elementary school district
Stillwater
Middle school district
Stillwater
High school district
Stillwater
Directions
Recommend using GPS. Located off route 9P between Spring Water Drive and Cedar Bluff Road. Sharp turn onto Rodgers Lane across from lake.
Standard status
Active
APN
415089 206.6-1-13
Size
2,400 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
6127
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating), Baseboard
Cooling system
Ductless
Water source
Well
Water front features
Lake
Water front
1
Building Details
Year built
1987
Number of units
2
Flooring type
Tile, Laminate, Hardwood
Building materials
Vinyl Siding
Roof type
Rubber, Asphalt
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Chelsea Rattner · License #10401311621
(518) 488-4993
Added: Apr 14
Changed: Jul 24
Last Checked: Aug 21 at 7:06PM
MLS# 202615016
Copyright © 2026 Global MLS, Inc. 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.
This duplex includes an upper residence spread across two levels, with 3 bedrooms and 2 full baths, along with expansive living spaces for year-round or seasonal use. The lower level features a private in-law style suite with its own living area, kitchenette, bedroom, and full bath.
The property is positioned just across from the shores of Saratoga Lake, offering a distinctive setting for occupants and renters alike.
With two separate living areas within the duplex structure, the layout provides flexibility for multigenerational use or rental arrangements while keeping each unit’s core amenities self-contained.
The property is positioned just across from the shores of Saratoga Lake, offering a distinctive setting for occupants and renters alike.
With two separate living areas within the duplex structure, the layout provides flexibility for multigenerational use or rental arrangements while keeping each unit’s core amenities self-contained.
Key Highlights
- Duplex across from Saratoga Lake with waterfront setting
- Upper residence features 3 bedrooms and 2 full baths across two levels
- Lower level includes an in‑law style suite with living area, kitchenette, bedroom, and full bath
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
$35,618
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
3.43%
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%
$712,360
$712.4K
Cap Rate 7%
$508,829
$508.8K
Cap Rate 9%
$395,756
$395.8K
Market Conditions
NOI Build-Up for 2,400 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
$53.3K $22.20/SF
− Vacancy
−$2.4K −$1.00/SF
EGI
$50.9K $21.20/SF
− OpEx
−$15.3K −$6.36/SF
NOI
$35.6K $14.84/SF
Area
Saratoga County, NY
Vacancy
4.50%
Lease Rate
$22.20 /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%
$712,360
Cap Rate 7%
$508,829
Cap Rate 9%
$395,756
Alternative Uses
Best Use
Multifamily LT 5
$508.8K
$445.2K – $593.6K
NOI $35,618 @ 7.0% cap · market cap 3.43%
Second Best
Apartment 5plus
$455.2K
$398.3K – $531.1K
NOI $31,867 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$718.4K
$628.6K – $838.1K
NOI $50,285 @ 7.0% cap · market cap 4.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 12866, NY
40,355
Population
20,462
Households
2
Avg Household Size
44
Median Age
55%
College-Educated
95%
High-School Grad
64.3 sq mi
ZIP Area
628
Density / Sq Mi
$98,374
Median Household Income
$53,265
Median Earnings
$1,460
Median Rent
$419,200
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 - Duplex offers an upper two-level home plus a lower private suite with kitchenette and full bath.
Where is this duplex located?
The property is located at 81 Rodgers Lane Saratoga Springs, NY.
What is the asking price?
The asking price for this property is $1,037,000.
What are key features of this property?
This property features: Duplex across from Saratoga Lake with waterfront setting; Upper residence features 3 bedrooms and 2 full baths across two levels; Lower level includes an in‑law style suite with living area, kitchenette, bedroom, and full bath
