29 Mullens Road
About This Property
ATTENTION BUILDERS & DEVELOPERS: This parcel is also a premier residential development tract. Zoned Residential A with highly coveted municipal utility access, the expansive 8-acre footprint offers immense subdivision potential for a high-end, single-family cul-de-sac neighborhood (see map image).
Whether you are a preservationist dreaming of restoring a historic homestead or a developer seeking Slingerlands' next premium subdivision, this property offers unmatched potential. The peaceful grounds are exceptionally located just steps from the Albany County Helderberg-Hudson Rail Trail, and close to local restaurants and shopping. The original carriage house includes an accessory dwelling unit (ADU) and plentiful storage. Properties with this rare blend of historic charm, acreage, and development potential do not last.
Property is sold AS-IS. Cash or renovation/construction loan only.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 20, 2026 | In contract | - | |
| In contract | |||
| Jul 11, 2026 | Listed by Gabler Realty LLC | $850,000 | |
| Listed by Gabler Realty LLC | |||
| Apr 2, 2023 | No longer available | - | |
| No longer available | |||
| Sep 22, 2022 | Listed by COLDWELL BANKER PRIME PROPERTIES | $999,000 | |
| Listed by COLDWELL BANKER PRIME PROPERTIES | |||
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+/- 8 acres for sale in Slingerlands, NY (Town of Bethlehem) current home and detached garage on site. Land is flat and across from rail trail off of New Scotland Ave. Potential development site.
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| Oct 6, 2021 | No longer available | - | |
| No longer available | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017