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48 Old Lake Colby, Saranac Lake, NY 12983

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For Sale

$459,000

2,300 sqft

Estimated Payment

$ 2,604 /mo. †

6.67% APR for 30 yrs.
$2,900 in taxes
Change Loan Terms

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

  • $199.57
    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
    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

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Mortgage Calculator

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Monthly Payment Breakdown

  • Principle and Interest
    $2,362
  • Property Taxes
    $241
  • Hazard Insurance
    $0
  • Private Mortgage Insurance
    $0
  • HOA Dues
    $0
  • Total Monthly Payment:
    $2,604

Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

Schools

Petrova Elementary School

Grades KG-5 Public School

Saranac Lake, NY 12983 0.9 miles
79 canaras ave

344 total students
11:1 Student teacher ratio

School Rating: C+

School Details

Saranac Lake Middle School

Grades 6-8 Public School

Saranac Lake, NY 12983 0.9 miles
79 canaras ave

299 total students
10:1 Student teacher ratio

School Rating: C+

School Details

Saranac Lake High School

Grades 9-12 Public School

Saranac Lake, NY 12983 0.7 miles
79 canaras ave

352 total students
10:1 Student teacher ratio

School Rating: B+

School Details
Other Nearby Schools Distance Type Grades School Rating
St Bernards School 1 miles Private KG-5
Bloomingdale Elementary School 5.1 miles Public KG-5 C-

St Bernards School

Distance: 1 miles

Type Private

Grades: KG-5

Bloomingdale Elementary School

Distance: 5.1 miles

Type Public

Grades: KG-5

C-

School information does not guarantee enrollment. School service boundaries are provided as a reference only, may change, and are not guaranteed to be accurate. Contact the school district directly to verify school enrollment eligibility.

Local area information for Saranac Lake, NY 12983

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Saranac Lake, NY 12983

This community’s employment is highest in the healthcare practitioners and administrative support industries. The area’s overall household expenses are above the national average.

77° July
Hottest Average Month
4° January
Coldest Average Month
3,172 Total Households in Area
-0.5% Increase in population since the year 2010
19%
of households
have children
18 minutes
Median Commute Time

Household Expenses vs National Average

This location’s average annual expenditures by category compared to the national average. Index score (100=National Average)

Demographic facts
for Saranac Lake, NY 12983

Saranac Lake, NY 12983 has a population of 6,675 people in 3,172 households with a median age of 43 years old.

-0.5%
Decrease in population
since the year 2010
Population is Trending down
3,177
Total households as of 2010
-2.8%
projected percent change in total
households in 5 years

Community Population By Age

The median age for this area is 43 years old. The smallest percentage group is 55-64 years and the largest percentage is the 85+ years age range.

Community Population By Ethnicity

White 89%
Hispanic 3%
Black 2%
Other <1%
Asian <1%
Native American <1%
The most prevalent ethnicity is White at 89%, followed by Hispanic at 3%, Black at 2%, and Other at <1%.

Economics
for Saranac Lake, NY 12983

30 /sq mi
Population Density
$62,773 /yr
Median Household Income
$275,000
Median Sales Price
18 min
Median Commute Time

Household Expenses vs National Average

This location’s average annual expenditures by category compared to the national average. Index score (100=National Average)

Household by Income

Out of the households in this area, the largest income group is $50-74,999k representing 21.63% of the households.

Transportation to Work

  • Drive 84%
  • Walk or Bike 8%
  • Work from Home 6%
  • Public Transit 1%

Occupancy by Type

Owned 1,926 46%
Rented 1,246 30%
Vacant 979 24%

White vs Blue Collar Jobs







White Collar 81%
Blue Collar 19%

Family & Education Facts
for Saranac Lake, NY 12983

43 Median Age

Average Household Size

2
persons per
household

38.1%

Married Households

Community Population By Education

High School Graduate 21%
Some College 20%
Bachelors Degree 18%
Graduate Degree 17%
Associates Degree 16%
Some High School 7%
Of the total people surveyed, the most prevalent educational attainment level is High School Graduate, representing 21.17% of the population.

Household Family Expenses vs National Average

This location’s average annual expenditures compared to the national average. Index score (100=National Average)
19.1% of households have children

Weather
for Saranac Lake, NY 12983

The weather for this area ranges from a high of 77° F in July to a low of 4° F in January

77° July
Hottest Average Month
4° January
Coldest Average Month

Average Temperature by Month

Low (°F)
High (°F)
Jan
4°
26°
Feb
4°
28°
Mar
14°
37°
Apr
27°
50°
May
38°
64°
Jun
48°
73°
Jul
52°
77°
Aug
50°
75°
Sep
43°
67°
Oct
33°
55°
Nov
24°
41°
Dec
10°
29°

Average Temperature in Degrees Fahrenheit

Precipitation

Precipitation (inch)

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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.

Data powered by Attom Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.

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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