Duplex With Solar
For Sale
$500,000
1 Park Place, Poughkeepsie, NY 12601
Separate natural gas meters and a mix of leased and vacant space provide distinct operating arrangements.
Property Size2,500 SF
Price / SF$200
Days on Market100
Property Features for 1 Park Place
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Residential Income
Occupancy
50%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Individually Metered Utilities
gas
Additional Details
Gross Income
$52,800
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$7,350
Amenities
shared washer/dryer
basement storage
Open Floorplan
Pantry
Building Details
Building Size
2,500 SF
Year Built
1910
Buildings
1
Units
2
Listing Agency:
RE/MAX Town & Country
(845) 765-6128
Listed By:
Kevin Daly
(845) 490-3881
Source:
Gillianstewart
Added: Jul 17
Changed: Oct 23
Last Checked: Oct 23 at 4:36PM
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 RE/MAX Town & Country
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Investment Insights
Based on property information with market context.
This 2,500-square-foot duplex, built in 1910, contains two units, each with two bedrooms, one bathroom, a kitchen, dining room, and living room. The second unit also has a den or office with access to a balcony. Shared laundry, basement storage, and parking serve the property. Solar panels were installed in 2022, the year the roof was replaced; the seller will pay off the panels at closing. One unit is leased and the other is vacant.
The sale includes the neighboring lot at 3 Park Place. The property is in Poughkeepsie, near shopping, dining, schools, and major commuter routes. Separate natural gas meters allow each tenant to pay for gas service.
The sale includes the neighboring lot at 3 Park Place. The property is in Poughkeepsie, near shopping, dining, schools, and major commuter routes. Separate natural gas meters allow each tenant to pay for gas service.
Key Highlights
- 2,500‑square‑foot duplex built in 1910
- Two units, each with 2 bedrooms and 1 bathroom
- Second unit includes a den or office opening to a balcony
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,950
Cap Rate
8.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$859,000
$859.0K
Cap Rate 7%
$613,571
$613.6K
Cap Rate 9%
$477,222
$477.2K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$82.2K $32.88/SF
− Vacancy
−$4.1K −$1.64/SF
EGI
$78.1K $31.24/SF
− OpEx
−$35.1K −$14.06/SF
NOI
$42.9K $17.18/SF
Area
Dutchess County, NY
Vacancy
5.00%
Lease Rate
$32.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$859,000
Cap Rate 7%
$613,571
Cap Rate 9%
$477,222
Alternative Uses
Best Use
Multifamily LT 5
$662.7K
$579.8K – $773.1K
NOI $46,386 @ 7.0% cap · market cap 9.28%
Second Best
Apartment 5plus
$613.6K
$536.9K – $715.8K
NOI $42,950 @ 7.0% cap · market cap 8.59%
Theoretical Best
Office A
$752.5K
$658.5K – $878.0K
NOI $52,678 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,833
Businesses Nearby
Explore this area
Business Placement
Demographics for 12601, NY
44,264
Population
17,972
Households
2.5
Avg Household Size
35
Median Age
30%
College-Educated
88%
High-School Grad
18.3 sq mi
ZIP Area
2,419
Density / Sq Mi
$64,769
Median Household Income
$37,259
Median Earnings
$1,376
Median Rent
$275,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate natural gas meters and a mix of leased and vacant space provide distinct operating arrangements.
Where is this duplex located?
The property is located at 1 Park Place Poughkeepsie, NY.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 2,500‑square‑foot duplex built in 1910; Two units, each with 2 bedrooms and 1 bathroom; Second unit includes a den or office opening to a balcony
