Multifamily Property with Parking
New
For Sale
$950,000
10 Eastman Ter, Poughkeepsie, NY 12601
Apartment asset with separately deeded parking and in-unit laundry hookups.
Property Size4,488 SF
Days on Market4
Property Features for 10 Eastman Ter
General Information
Standard status
Active
Size
4,488 SF
Total Parking Spaces
9
Property subtype
Commercial
Financials
Cap Rate
8.5%
Gross Income
$117,480
Units
Unit Mix
1 x 1BR, 2 x 3BR, 2 x 4BR
Multifamily Units
5
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$15,376
Amenities
in-unit washer/dryer hookup
Building Details
Building Size
4,488 SF
Year Built
1900
Units
5
Listing Agency:
SERHANT
(914) 772-2603
Listed By:
Jake Garay · License #10301216829
(914) 772-2603
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 7:41AM
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 SERHANT
Investment Insights
Based on property information with market context.
This multifamily property contains five apartments, including one 1-bedroom unit, two 3-bedroom units, and two 4-bedroom units. Each residence includes an in-unit washer/dryer hookup. The property also conveys with a separately deeded 9-car parking lot, providing one parking space for each apartment. The building was constructed in 1900.
Residents pay heat, hot water, and electricity, while water and sewer remain the landlord’s responsibility. The property produces an 8.5% current cap rate, with pro forma rents indicating approximately 10.5%. Current gross annual income is $117,480. The property is near Route 9, the Mid-Hudson Bridge, Marist College, Vassar College, Dutchess Community College, and the Culinary Institute of America.
Residents pay heat, hot water, and electricity, while water and sewer remain the landlord’s responsibility. The property produces an 8.5% current cap rate, with pro forma rents indicating approximately 10.5%. Current gross annual income is $117,480. The property is near Route 9, the Mid-Hudson Bridge, Marist College, Vassar College, Dutchess Community College, and the Culinary Institute of America.
Key Highlights
- Five apartments with one 1‑bedroom, two 3‑bedroom, and two 4‑bedroom units
- Separately deeded 9‑car parking lot with one space allocated to each apartment
- 8.5% current cap rate with approximately 10.5% indicated at pro forma rents
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
$77,103
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
8.12%
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%
$1,542,060
$1.5M
Cap Rate 7%
$1,101,471
$1.1M
Cap Rate 9%
$856,700
$856.7K
Market Conditions
NOI Build-Up for 4,488 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
$147.6K $32.88/SF
− Vacancy
−$7.4K −$1.64/SF
EGI
$140.2K $31.24/SF
− OpEx
−$63.1K −$14.06/SF
NOI
$77.1K $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 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%
$1,542,060
Cap Rate 7%
$1,101,471
Cap Rate 9%
$856,700
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$963.8K – $1.29M
NOI $77,103 @ 7.0% cap · market cap 8.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,568 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,817
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Apartment asset with separately deeded parking and in-unit laundry hookups.
Where is this apartment building located?
The property is located at 10 Eastman Ter Poughkeepsie, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Five apartments with one 1‑bedroom, two 3‑bedroom, and two 4‑bedroom units; Separately deeded 9‑car parking lot with one space allocated to each apartment; 8.5% current cap rate with approximately 10.5% indicated at pro forma rents
