Duplex with Separate Lower
For Sale
$1,037,000
81 Rodgers Lane, Saratoga Springs, NY 12866
Includes a three-bedroom upper residence and a private lower suite with its own living area, kitchenette, bedroom, and full bath.
Property Size2,400 SF
Price / SF$432.08
Days on Market41
Property Features for 81 Rodgers Lane
General Information
Standard status
Active
Size
2,400 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,127
Building Details
Year Built
1987
Listing Agency:
KW Platform
Listed By:
Chelsea Rattner · License #10401311621
(518) 488-4993
Source:
Capmarkrealty
Added: Jul 24
Changed: Aug 31
Last Checked: Sep 1 at 2:56PM
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 KW Platform
Investment Insights
Based on property information with market context.
This duplex includes an upper residence arranged across two levels with 3 bedrooms, 2 full baths, and generous open-concept living areas. A separate lower suite provides its own living space, kitchenette, bedroom, and full bath, creating distinct accommodations within the property. The residences feature quality finishes and character throughout. The property was built in 1987.
Positioned across from the shores of Saratoga Lake at 81 Rodgers Lane in Saratoga, NY 12866, the property offers a lake-oriented setting with established rental appeal. The configuration supports full-time living, seasonal use, guest accommodations, extended-family arrangements, or additional rental use as described in the property information.
Positioned across from the shores of Saratoga Lake at 81 Rodgers Lane in Saratoga, NY 12866, the property offers a lake-oriented setting with established rental appeal. The configuration supports full-time living, seasonal use, guest accommodations, extended-family arrangements, or additional rental use as described in the property information.
Key Highlights
- Upper residence spans two levels with 3 bedrooms and 2 full baths
- Separate lower suite includes living area, kitchenette, bedroom, and full bath
- Duplex positioned across from the shores of Saratoga Lake
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 - Includes a three-bedroom upper residence and a private lower suite with its own living area, kitchenette, bedroom, 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: Upper residence spans two levels with 3 bedrooms and 2 full baths; Separate lower suite includes living area, kitchenette, bedroom, and full bath; Duplex positioned across from the shores of Saratoga Lake
