$399,000

48 Old Lake Colby, Saranac Lake, NY 12983

5 beds |
3 baths |
2,300 sqft

Single-Family Home
Built in 1920
0.78acre lot
—— car garage
$173/sqft
Listed 11 months ago

Property Description

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.

Listing Status:: Active
Date Added:: July 11, 2025 at 05:00AM
Listing Office:: Engel & Volkers Lake Placid Real Estate : colleen.holmes@evrealestate.com
Listing Agent:: Lisa McKenna : 518-524-1778
MLS ID:: 203773

General: Beamed CeilingsCeiling Fan(s)Entrance FoyerHigh CeilingsIn-Law FloorplanPrimary Downstairs
Appliances: DishwasherFree-Standing Electric RangeFree-Standing RefrigeratorWasher/Dryer
Laundry: Laundry Room
Basement: ConcreteSump Pump
Flooring: CarpetCombinationHardwoodLaminateLinoleumVinyl
A/C: None
Heating: Fireplace(s)OilPropaneSeparate MetersWall Furnace

General: LightingPrivate YardOutbuilding
Style: Old Style
Pool: None
Parking: Driveway

Roofing: Shingle
Windows: Double Pane WindowsVinyl Clad Windows
General: ClapboardCement SidingFrameTwoPoured

Road/Access: Paved
Originating MLS: Adirondack-Champlain Valley MLS
School District: Saranac Lake
County: Franklin

Zoning: 446.-52-1-6
Fencing: Chain LinkFront Yard

Utilities: Cable ConnectedElectricity ConnectedPhone ConnectedPropaneSewer ConnectedWater Connected200+ Amp Service
Water: Public
Sewer: Public Sewer

Source: Adirondack-Champlain Valley MLS

This listing courtesy of Lisa McKenna, Engel & Volkers Lake Placid Real Estate

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

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Location

Schools Nearby

Petrova Elementary School

79 Canaras Ave, Saranac Lake, NY, 12983

Grades KG-5

0.86 miles away

Saranac Lake Middle School

79 Canaras Ave, Saranac Lake, NY, 12983

Grades 6-8

0.86 miles away

Saranac Lake High School

79 Canaras Ave, Saranac Lake, NY, 12983

Grades 9-12

0.71 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.