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48 Old Lake Colby, Saranac Lake, NY 12983

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For Sale

$495,000

2,300 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $215.22
    Price per square foot

  • Over 50 Years Old
    Age

  • Fireplace
    Heating System

Explore this Property

Stunning stately 1920's home situated at the crest of a hill over looking the wooded area toward Lake Colby beach. The Main home used to be a two until but currently is used as a 5 bedroom 2.5 baths. It has a beautiful stone fireplace, with high beamed ceilings and lovely archways separating the rooms. The kitchen still remains on the second floor, so it could easily be converted back to a rental unit for a total of 4 units. The back 2 story unit has 2/one bedroom apartments on month to month leases which rent for $450 each, with tenants paying their own elec. and propane heat. What a great opportunity to own a large family home and have income to help pay the mortgage taxes and maintenance. A short distance to the rail trail, the beach and downtown Saranac Lake. Just minutes to AMC if you want to be close to work.
MLS# 203742

Courtesy Of Engel & Volkers lake Placid Real Estate

(518) 523-4404

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Dock, Porch
  • Appliances
    Dishwasher, Dryer, Range, Refrigerator, Washer
  • Architecture Style
    Other
  • Fireplace
    Fireplace
  • Floor Covering
    Carpet, Hardwood, Laminate, Linoleum, Vinyl
  • Heating System
    Fireplace
  • Lot Size
    0.78 Acres

Map and Directions

Directions to 48 Old Lake Colby, Saranac Lake, NY 12983

Home seller CENTURY 21 TheOne

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 TheOne

(518) 563-7350
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Monthly Payment Breakdown

  • Principle and Interest
    $0
  • Property Taxes
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  • Hazard Insurance
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  • Private Mortgage Insurance
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  • HOA Dues
    $0
  • Total Monthly Payment:
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Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

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Copyright © 2025 Adirondack Champlain Valley MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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