Multifamily Property with Studio
For Sale
$589,000
10 Barrett Drive, Hopewell Junction, NY 12533
A separate studio and two garages complement the main residence on a landscaped parcel with a pond.
Property Size2,224 SF
Lot Size1.58 Acres
Price / SF$264.84
Days on Market19
Property Features for 10 Barrett Drive
General Information
Standard status
Active
Size
2,224 SF
Total Parking Spaces
3
Lot size
1.58 Acres
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$13,405
Amenities
pond
brick fireplace
original wood flooring
vintage knotty pine walls
Anderson windows
central air
cold climate heat pump
Henry Schreiber kitchen
fenced animal run
large shed
In-Law Floorplan
Natural Woodwork
Open Floorplan
Original Details
Dog Run
Building Details
Building Size
2,224 SF
Year Built
1955
Buildings
2
Units
2
Construction
Mid-Century Colonial
Listing Agency:
Century 21 Alliance Rlty Group
(845) 297-4700
Listed By:
Kimberly Cannizzaro
(845) 381-2888
Source:
Jamesseriore
Added: Oct 15
Changed: Oct 31
Last Checked: Oct 31 at 3:07AM
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 Century 21 Alliance Rlty Group
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Investment Insights
Based on property information with market context.
Built in 1955, this 2,224-square-foot multifamily property includes a three-bedroom, one-and-a-half-bath main residence and a 440-square-foot studio apartment with an attic loft. The studio is attached to a detached two-car garage; the main residence also has an attached lower-level garage bay. Interior details include original wood floors, knotty pine walls, a brick fireplace, and a Henry Schreiber kitchen. Three main-level entrances, an unfinished walk-out basement, and oil-fired hot water heating or a cold-climate heat pump with central air add to the property’s configuration.
The property occupies 1.58 acres with a pond, mature trees, a large shed, and a fenced animal-run area. It sits alongside the Taconic State Parkway and is 11 miles from Metro-North.
The property occupies 1.58 acres with a pond, mature trees, a large shed, and a fenced animal-run area. It sits alongside the Taconic State Parkway and is 11 miles from Metro-North.
Key Highlights
- 1.58‑acre parcel with a pond
- 2,224‑square‑foot multifamily property built in 1955
- 440‑square‑foot studio apartment with attic loft
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,208
Cap Rate
6.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$764,160
$764.2K
Cap Rate 7%
$545,829
$545.8K
Cap Rate 9%
$424,533
$424.5K
Market Conditions
NOI Build-Up for 2,224 SF
Gross rent
$73.1K $32.88/SF
− Vacancy
−$3.7K −$1.64/SF
EGI
$69.5K $31.24/SF
− OpEx
−$31.3K −$14.06/SF
NOI
$38.2K $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%
$764,160
Cap Rate 7%
$545,829
Cap Rate 9%
$424,533
Alternative Uses
Best Use
Apartment 5plus
$545.8K
$477.6K – $636.8K
NOI $38,208 @ 7.0% cap · market cap 6.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$669.5K
$585.8K – $781.0K
NOI $46,862 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
182
Businesses Nearby
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Business Placement
Demographics for 12533, NY
26,147
Population
9,419
Households
2.8
Avg Household Size
43
Median Age
46%
College-Educated
94%
High-School Grad
48.9 sq mi
ZIP Area
535
Density / Sq Mi
$134,950
Median Household Income
$62,376
Median Earnings
$1,643
Median Rent
$440,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - A separate studio and two garages complement the main residence on a landscaped parcel with a pond.
Where is this multifamily property located?
The property is located at 10 Barrett Drive Hopewell Junction, NY.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: 1.58‑acre parcel with a pond; 2,224‑square‑foot multifamily property built in 1955; 440‑square‑foot studio apartment with attic loft
