Rhinebeck Three-Family Investment
For Sale
$719,000
12 S Parsonage Street, Rhinebeck, NY 12572
Rare Rhinebeck three-family rental property, fully occupied with long-term tenants.
Property Size3,444 SF
Price / SF$208.77
Days on Market120
Property Features for 12 S Parsonage Street
General Information
Standard status
Active
Size
3,444 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$12,192
Building Details
Building Size
3,444 SF
Year Built
1946
Listing Agency:
Century 21 Alliance
Listed By:
Robyn Tricinelli · License #10301220572
Source:
Gristmillrealestate
Added: May 1
Changed: Aug 23
Last Checked: Aug 26 at 2:02PM
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
Investment Insights
Based on property information with market context.
This three-family home is located in the Village of Rhinebeck in a quiet neighborhood with a park directly across the street. The property is fully occupied by long-term tenants, ensuring immediate rental income. Each unit has its own washer and dryer, as well as separate electric meters. Unit 1 is a 1-bedroom ground floor apartment with an extra room. Unit 2 is a 2-bedroom second-floor unit with an updated kitchen. Unit 3 is a two-floor, 2-bedroom unit also with an updated kitchen. The property offers access to Landsman Kill for fishing. The property size is 3,444 square feet. Rhinebeck offers a mix of small-town charm and proximity to larger metropolitan hubs, making it an attractive option for renters. With its well-maintained structure and peaceful surroundings, this property offers the potential for steady returns and long-term growth.
Key Highlights
- Prime Investment Opportunity: Rare three‑family rental property in the Village of Rhinebeck.
- Fully Occupied: Ensures immediate rental income.
- Desirable Location: Close to the Village of Rhinebeck in a quiet neighborhood with a park across the street.
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
$63,901
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
8.89%
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%
$1,278,020
$1.3M
Cap Rate 7%
$912,871
$912.9K
Cap Rate 9%
$710,011
$710.0K
Market Conditions
NOI Build-Up for 3,444 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
$96.3K $27.96/SF
− Vacancy
−$5.0K −$1.45/SF
EGI
$91.3K $26.51/SF
− OpEx
−$27.4K −$7.95/SF
NOI
$63.9K $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%
$1,278,020
Cap Rate 7%
$912,871
Cap Rate 9%
$710,011
Alternative Uses
Best Use
Multifamily LT 5
$912.9K
$798.8K – $1.07M
NOI $63,901 @ 7.0% cap · market cap 8.89%
Second Best
Apartment 5plus
$845.2K
$739.6K – $986.1K
NOI $59,167 @ 7.0% cap · market cap 8.23%
Theoretical Best
Office A
$1.04M
$907.1K – $1.21M
NOI $72,569 @ 7.0% cap · market cap 10.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
657
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Rare Rhinebeck three-family rental property, fully occupied with long-term tenants.
Where is this triplex located?
The property is located at 12 S Parsonage Street Rhinebeck, NY.
What is the asking price?
The asking price for this property is $719,000.
What are key features of this property?
This property features: Prime Investment Opportunity: Rare three‑family rental property in the Village of Rhinebeck.; Fully Occupied: Ensures immediate rental income.; Desirable Location: Close to the Village of Rhinebeck in a quiet neighborhood with a park across the street.
