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81 Glendale Road
About This Property
The land makes 81 Glendale Rd. truly exceptional. The properties private acres adjoins lands of Teatown Lake Reservation, and the protected, un-developable watershed property of the Ossining water supply. Teatown's 1,000-acre nature preserve and 15 mile long trail system is at the property's doorstep. Here, mornings can begin beside the brook, the woodland paths and the trails of Teatown without getting into a car.
~4 acres and the house are enclosed by a deer fence. Existing accessory structures include a garage, barn and storage buildings. These structures reflect their age and condition and an opportunity to reimagine the property's outbuildings and their uses, subject to applicable municipal requirements and approvals.
For all its privacy, the property is exceptionally well connected. Millwood, Chappaqua, Ossining, Armonk, Pound Ridge, Katonah and Bedford are within easy reach, offering the restaurants, farmers markets, shops, galleries and outdoor experiences for which northern Westchester is well known. Celebrated regional destinations, including Blue Hill at Stone Barns and The Farmer & the Fish, are also nearby.
Remarkably, the Croton-Harmon Metro-North station is approximately 3.3 miles and only ~8 minutes away, providing direct service to Grand Central Terminal in 46 minutes on express trains. The result is a rare combination: the privacy, acreage and natural surroundings of a true country property with New York City close at hand.
81 Glendale Road presents an opportunity to become steward of an extraordinary piece of the Teatown-area landscape, centered around a historic home that has occupied this setting since 1870, compelling as a full-time residence or as a weekend retreat within easy reach of Manhattan.
Properties offering this combination of acreage, natural beauty, privacy and accessibility are seldom available in Westchester County. The property is being offered "as is" at an asking price substantially below what its underlying market value and opportunity represents, with the expectation that prospective purchasers will evaluate the property, its existing improvements and its considerable potential. The buyer will be the party that would make any changes found necessary. Additional information is available for discussion with qualified interested buyers. According to the parcel-history provided by the Town of New Castle for 81 Glendale Road, there are no open permits, and one Certificate of Occupancy, relating to the automobile shed. The residence dates to 1870 and predates the Town's current zoning framework. Prospective purchasers and their professional advisors should independently complete their own due diligence on current conditions and any contemplated future improvements.
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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%.
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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 |
|---|---|---|---|
| Sep 4, 2026 | Listed by Houlihan Lawrence Inc. | $800,000 | |
| Listed by Houlihan Lawrence Inc. | |||
| Aug 14, 2026 | No longer available | - | |
| No longer available | |||
| Jun 21, 2026 | Relisted | $900,000 | |
| Relisted | |||
| Jun 11, 2026 | In contract | - | |
| In contract | |||
| Jun 2, 2026 | Price Decreased |
$825,000
↓ $93K
(10.1%) | |
| Price Decreased | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017