Country Triplex with Pond
New
For Sale
$869,900
1 Kerr Road, Rhinebeck, NY 12572
Residential Income, Rhinebeck, NY
Property Size3,200 SF
Lot Size5.09 Acres
Price / SF$271.84
Days on Market4
Property Features for 1 Kerr Road
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 5, Bedroom 4, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 1, Bathroom 4, Bedroom 6, Bedroom 2
Parking features
Driveway
Interior features
First Floor Bedroom, First Floor Full Bath
View
River, Park
Elementary school
Chancellor Livingston Elementary Sch
Middle school
Bulkeley Middle School
High school
Rhinebeck Senior High School
Elementary school district
Rhinebeck
Middle school district
Rhinebeck
High school district
Rhinebeck
Standard status
Active
APN
135089-6269-00-485945-0000
Lot size
5.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9910
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Electric (Heating)
Water source
Well
Water front features
Pond
Water front
1
Building Details
Year built
1967
Number of units
3
Building materials
Frame, Vinyl Siding
Listing Agency:
eXp Realty
(888) 276-0630
Listed By:
Anesha Nesbitt · License #10401285703
(845) 825-2341
Added: Sep 10
Changed: Sep 13
Last Checked: Sep 13 at 11:06AM
MLS# 1050010
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This frame and vinyl-sided triplex, built in 1967, provides more than 3,200 square feet of living space across two oversized primary apartments and additional accessory space. Each main apartment includes separate laundry facilities and two private decks. The layout also includes a first-floor bedroom and full bath, with accessible accommodations in one living area.
Set on 5.09 acres with pond access, the property is located at 1 Kerr Road, approximately two miles from the Village of Rhinebeck. A private driveway serves the property, which uses well water and a septic system. Major improvements include a roof installed in 2015, a septic system updated in 2016 with a 1,000-gallon tank, and solar panels. Cable is available, and electric heating serves the building.
Set on 5.09 acres with pond access, the property is located at 1 Kerr Road, approximately two miles from the Village of Rhinebeck. A private driveway serves the property, which uses well water and a septic system. Major improvements include a roof installed in 2015, a septic system updated in 2016 with a 1,000-gallon tank, and solar panels. Cable is available, and electric heating serves the building.
Key Highlights
- 5.09‑acre multifamily property with pond access
- More than 3,200 square feet of living space
- Two oversized primary apartments plus accessory space
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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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Triplex - Multifamily property with two primary apartments, accessory space, private decks, and flexible household or income-producing use.
Where is this triplex 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: 5.09‑acre multifamily property with pond access; More than 3,200 square feet of living space; Two oversized primary apartments plus accessory space
