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18 Sylvan Road, Lake Peekskill, NY, 10537

4beds
3baths
2,502sqft
$689,000
$275price/sqft
$5,397/moest. monthly cost
$215,880/yrincome needed

About This Home

Rare opportunity to own a beautifully maintained legal two-family home in Lake Peekskill, Putnam Valley, offering income potential, flexible living arrangements, and sweeping year-round views of Junior Lake. Whether you're looking for an income-producing property, a home with a legal accessory apartment, a mortgage-offset opportunity, or flexible multi-generational living, this versatile property offers exceptional possibilities in a desirable Hudson Valley lake community. The main residence features a bright, thoughtfully designed floor plan with a formal dining room accented by a custom wood ceiling, an updated eat-in kitchen with refreshed cabinetry, stainless steel appliances, breakfast bar seating, tile flooring, and a sunny breakfast nook. The spacious living room features a picturesque bay window framing sweeping year-round Junior Lake views, while the primary suite offers a renovated ensuite bath, complemented by additional bedrooms and a second full bath. The legal lower-level apartment offers two private entrances, a living room, bedroom, renovated full bath, and direct access to an expansive brand-new deck overlooking the backyard and Junior Lake. The apartment was recently used for extended family, so the stove and refrigerator were removed and the interior door separating the apartment from the main residence will need to be reinstalled to restore its original configuration. Existing kitchen cabinetry and plumbing remain in place, making it easy for the next owner to reinstall the appliances and return the apartment to its intended use. The outdoor spaces are equally inviting, with beautifully maintained perennial gardens, mature landscaping, seasonal blooms, and private areas for outdoor dining, entertaining, and relaxing. Recent improvements include a new septic tank, removal of the underground oil tank, energy-efficient ductless air conditioning on both levels, and a heat pump incorporated into the home's HVAC system, and brand new deck. Enjoy Lake Peekskill lake rights, including swimming, fishing, kayaking, and non-motorized boating. Conveniently located near the Taconic State Parkway, Route 6, Metro-North, shopping, dining, and the many recreational opportunities throughout the Hudson Valley. Legal two-family living, lake community amenities, Junior Lake views, income potential, and a flexible lower-level apartment make this a unique opportunity in Putnam Valley. With the recent price improvement, this is an excellent opportunity for buyers seeking versatility, value, and the lifestyle of a Hudson Valley lake community.

Getting Around

18
WalkingCar-Dependent
0
TransitVery Limited Transit
4
BikeSomewhat Bikeable

Schools

6/10
9/10
Putnam Valley High SchoolGrades 9-121.6 mi

Construction

Condition

  • Property condition: Updated/Remodeled
  • Year built: 1945

Materials

  • Foundation: Concrete Perimeter
  • Construction materials: Frame

Type & Style

  • Home type: MultiFamily
  • Architectural style: Ranch
  • Property subType: Duplex,Multi Family

Interior

Appliances

  • Laundry features: Washer/Dryer Hookup

Basement

  • Has basement: Yes
  • Basement: Crawl Space,Finished,Full

Bedrooms & Bathrooms

  • Bedrooms: 4
  • Bathrooms: 3
  • Full bathrooms: 3

Features

  • First Floor Bedroom,Breakfast Bar,Ceiling Fan(s),Chandelier,Eat-in Kitchen,Formal Dining,In-Law Floorplan,Primary Bathroom,Recessed Lighting,Smart Thermostat,Storage,Walk Through Kitchen
  • Flooring: Carpet,Combination,Laminate,Tile,Vinyl
  • Attic: Full,Pull Stairs

Heating & Cooling

  • Heating features: Heat Pump,Oil
  • Cooling features: Central Air,Ductless

Interior Area

  • Total structure area: 2,502
  • Total interior livable area: 2,502 sqft

Property

Details

  • Parcel number: 37280009102500010130000000
  • Special condition: None

Features

  • Patio & porch: Deck,Patio
  • Exterior features: Garden,Mailbox
  • Has view: Yes
  • View description: Lake,Mountain(s),Neighborhood,Trees/Woods,Water
  • Has water view: Yes
  • Water view: Lake,Water
  • On waterfront: Yes
  • Waterfront features: Pond

Lot

  • Lot size: 0.62 Acres

Parking

  • Total spaces: 6
  • Parking features: Driveway
  • Has uncovered spaces: Yes

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Strong Wind
    Strong WindModerate
  • Winter Weather
    Winter WeatherModerate

How This Home’s Risks Compare

Strong Wind
Winter Weather

FEMA Declared Disasters in Putnam County and New York

Flood
Severe Storm

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $3,483$41,796
Home Insurance *$284$3,408
Property Taxes $1,217$14,604
Electricity $413$4,961
Total$5,397$64,764
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$185,040/yr
40% on housing$161,910/yr
45% on housing$143,920/yr

New York FAIR Plan Programs

New York Property Insurance Underwriting Association

Covered
WildfireWildfire
HailHail
WindWind
Visit Website →
Current Policies
Residential: 20,669Commercial: 1,556
Total Premiums$32.27M
Total Exposure$7.63B

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 2.8%
2.8%
0%30.0%
Electricity Growth Rate10-year average: 7.1%
7.1%
0%15.0%
Property Taxes Growth Rate2-year average: 1.0%
1.0%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$275This listing

vs Other Active Listings

Avg $/sqft

ZIP 10537$264
Putnam County$329

vs Homes Sold Last Month

Median $/sqft

ZIP 10537$323
Putnam County$318

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

Price History

DateEventPrice
2026-08-17Price change$684,000
2026-07-22Listed for sale$689,000
2026-07-21Listing removed$689,000
2026-07-01Listed for sale$689,000
1993-01-25Sold$160,000

For Sale by Agent

AgentSherri Malone
BrokerageColdwell Banker Realty

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