101 Margaret Street, Saranac Lake, NY 12983 (MLS# 206594)

Description

Proud to present this beautifully updated 3-unit rental property in immaculate, truly turnkey condition. Every unit has been thoughtfully renovated with modern finishes, stylish kitchens and baths, updated flooring, fresh paint, and quality fixtures throughout. The result is a clean, bright, and welcoming space tenants love -- and an investment you can feel confident about. This property offers: 1. Three well-maintained, income-producing units 2. Strong rental income of 72k+ per year gross in a high-demand area 3. Low-maintenance updates already completed 4. Excellent opportunity for income or affordable owner-occupants Located in the heart of Saranac Lake, you're just minutes from local shops, restaurants, outdoor recreation, and all the charm this Adirondack community is known for. Whether you're looking to expand your portfolio or live in one unit while generating income from the others, this property checks all the boxes.

Contract Information

Short Term Rental Options: Property is not available to host any STR Current Price: $499,950 Original List Price: 499950 Sold Price: $499,950 Status: Closed Listing Contract Date: 2026-02-17 Property Sub Type: Triplex Listing Agreement: Exclusive Right To Sell

Location, Tax, and Legal

Tax Annual Amount: 5692 Tax Assessed Value: 178200 Land Tax Annual Amount: 1240 Deed Date: 2021-12-30

General Property Information

Number Of Buildings: 1 Stories Total: 3 Number of Units: 3 Building Area Total: 2673 Year Built: 1907 Open Parking YN: 1 Open Parking Spaces: 3 Parking Total: 3 Lot Size Acres: 0.13

Status Change Information

Status Change Timestamp: 2026-05-07 Concessions: No Buyer Financing: Cash Major Change Timestamp: 2026-05-07T14:22:15Z Major Change Type: Status Change Under Contract Date: 2026-03-01 Close Date: 2026-05-04 Close Price: 499950

Appliances

Cooktop: 1 Oven: 1 Refrigerator: 1 Washer/Dryer: 1

Architectural Style

Old Style: 1

Basement

Full: 1

Common Walls

No Common Walls: 1

Construction Materials

Wood Siding: 1

Cooling

Heat Pump: 1

Deed Details

Instrument: Deed Page: 65 Volume: 2022

Documents Available

Deed: 1 Property Condition: 1

Electric

200+ Amp Service: 1

Exterior Features

Private Entrance: 1 Smart Lock(s): 1

Fencing

None: 1

Financial Details

School Taxes: 2006 School Taxes Description: Actual Village Taxes: 2469 Village Taxes Description: Actual

Flooring

Ceramic Tile: 1 Hardwood: 1

Heating

Electric: 1 Hot Water: 1 Oil: 1

Laundry Features

In Basement: 1

Levels

Tri-Level: 1

Listing Terms

Cash: 1 Conventional: 1

Lot Features

City Lot: 1

Parking Features

Open: 1

Patio And Porch Features

Glass Enclosed: 1 Porch: 1 Side Porch: 1

Pool Features

None: 1

Property Condition

Updated/Remodeled: 1

Road Frontage Type

Public: 1

Road Surface Type

Paved: 1

Roof

Metal: 1

Sewer

Public Sewer: 1

Structure Type

Triplex: 1

Utilities

Electricity Connected: 1 Internet Connected: 1 Sewer Connected: 1 Water Connected: 1

View

Neighborhood: 1

Water Source

Public: 1

Owner Pays

All Utilities: 1

Tenant Pays

None: 1

Unit One

Unit #: 1 Actual Rent: 2000 Bathrooms Full: 1 Beds Total: 2 Leased: Yes Range: 1 Refrigerator: 1 Total SqFt: 891

Unit Two

Unit #: 2 Actual Rent: 2000 Bathrooms Full: 1 Beds Total: 2 Leased: Yes Range: 1 Refrigerator: 1 Total SqFt: 891

Unit Three

Unit #: 3 Actual Rent: 2000 Bathrooms Full: 1 Beds Total: 2 Leased: Yes Refrigerator: 1 Total SqFt: 668

Location Tax and Legal

Street Number: 101 Street Name: Margaret Street Suffix: Street County: Franklin State: NY Postal Code: 12983 MLS Area Major: Saranac Lake, Raybrook Township: Harrietstown School District: Saranac Lake Parcel Number: 447.61-10-10 Directions: Bllomingdale Ave to Margaret Street. 3rd home on right past Circle Street.

Unit Details

Number Of Units Leased: 3

Property Features

Appliances: Cooktop; Oven; Refrigerator; Washer/Dryer Architectural Style: Old Style Basement: Full Common Walls: No Common Walls Construction Materials: Wood Siding Cooling: Heat Pump Documents Available: Deed; Property Condition Electric: 200+ Amp Service Exterior Features: Private Entrance; Smart Lock(s) Fencing: None Flooring: Ceramic Tile; Hardwood Heating: Electric; Hot Water; Oil Laundry Features: In Basement Levels: Tri-Level Listing Terms: Cash; Conventional Lot Features: City Lot Owner Pays: All Utilities Parking Features: Open Patio And Porch Features: Glass Enclosed; Porch; Side Porch Pool Features: None Property Condition: Updated/Remodeled Road Frontage Type: Public Road Surface Type: Paved Roof: Metal Sewer: Public Sewer Structure Type: Triplex Tenant Pays: None Utilities: Electricity Connected; Internet Connected; Sewer Connected; Water Connected View: Neighborhood Water Source: Public Unit One: Range; Refrigerator Unit Two: Range; Refrigerator Unit Three: Refrigerator