Duplex With Pond
For Sale
$869,900
1 Kerr Road, Rhinebeck, NY 12572
Two spacious apartments offer separate laundry areas, private outdoor decks, and flexible living arrangements.
Property Size3,200 SF
Price / SF$271.84
Days on Market8
Property Features for 1 Kerr Road
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,909
Amenities
pond access
private decks
laundry facilities
Building Details
Year Built
1967
Buildings
1
Units
3
Listing Agency:
eXp Realty
(888) 276-0630
Listed By:
Anesha Nesbitt · License #10401285703
(845) 825-2341
Source:
Cornerstonemyhome
Added: Sep 12
Changed: Sep 18
Last Checked: Sep 18 at 3:10PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty
Investment Insights
Based on property information with market context.
This well-maintained duplex includes two oversized apartments along with additional accessory space, creating a flexible configuration for multigenerational living, extended household needs, or rental use. Each primary unit has its own laundry facilities and two private decks, while one living area includes accessible accommodations. The property provides over 3,200 square feet of living space on more than five acres with pond access.
Major property improvements include a roof installed in 2015, a septic system updated in 2016 with a 1,000-gallon tank, and solar panels. The property is located two miles from the Village of Rhinebeck and is addressed at 1 Kerr Road, Rhinebeck, NY 12572.
Major property improvements include a roof installed in 2015, a septic system updated in 2016 with a 1,000-gallon tank, and solar panels. The property is located two miles from the Village of Rhinebeck and is addressed at 1 Kerr Road, Rhinebeck, NY 12572.
Key Highlights
- Two oversized apartments plus additional accessory space
- Over 3,200 square feet of living space on more than five acres
- Each main unit includes laundry facilities and two private decks
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$59,374
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,187,480
$1.2M
Cap Rate 7%
$848,200
$848.2K
Cap Rate 9%
$659,711
$659.7K
Market Conditions
NOI Build-Up for 3,200 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$89.5K $27.96/SF
− Vacancy
−$4.7K −$1.45/SF
EGI
$84.8K $26.51/SF
− OpEx
−$25.4K −$7.95/SF
NOI
$59.4K $18.55/SF
Area
Dutchess County, NY
Vacancy
5.20%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,187,480
Cap Rate 7%
$848,200
Cap Rate 9%
$659,711
Alternative Uses
Best Use
Multifamily LT 5
$848.2K
$742.2K – $989.6K
NOI $59,374 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$785.4K
$687.2K – $916.3K
NOI $54,975 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$963.3K
$842.9K – $1.12M
NOI $67,428 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
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Business Placement
Demographics for 12572, NY
9,258
Population
4,785
Households
1.9
Avg Household Size
55
Median Age
51%
College-Educated
95%
High-School Grad
51.0 sq mi
ZIP Area
182
Density / Sq Mi
$96,377
Median Household Income
$59,583
Median Earnings
$1,631
Median Rent
$458,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two spacious apartments offer separate laundry areas, private outdoor decks, and flexible living arrangements.
Where is this duplex located?
The property is located at 1 Kerr Road Rhinebeck, NY.
What is the asking price?
The asking price for this property is $869,900.
What are key features of this property?
This property features: Two oversized apartments plus additional accessory space; Over 3,200 square feet of living space on more than five acres; Each main unit includes laundry facilities and two private decks
