Three Multifamily Properties
For Sale
$700,000
121 Renwick St, Newburgh, NY 12550
Three residential income properties in Newburgh, NY, sold as package.
Property Size2,216 SF
Lot Size0.04 Acres
Days on Market267
Property Features for 121 Renwick St
General Information
Standard status
Active
Size
2,216 SF
Lot size
0.04 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$7,308
Building Details
Building Size
2,216 SF
Year Built
1890
Units
2
Listing Agency:
RE/MAX BENCHMARK REALTY GROUP
(845) 913-8247
Listed By:
George K Koudounas · License #30KO1024277
(845) 913-8247
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 12
Last Checked: Aug 21 at 9:39AM
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 BENCHMARK REALTY GROUP
Investment Insights
Based on property information with market context.
This is a package sale of three properties located next to each other on a corner location. The properties are in the City of Newburgh and have all municipal services. The properties include an affordable two-family brick home with 3-bedrooms in each unit. The home is attached and on two levels. It has a small rear yard or parking area and sidewalks. The location is within walking distance to George Washington Headquarters, Newburgh Brewing Company, a variety of restaurants and shops, the Newburgh waterfront, and the bluff overlooking the Hudson River and Mt. Beacon. The properties can also be sold as a package along with 117/119 Renwick next to each other.
Key Highlights
- 3‑Property Package Available: Purchase with adjacent properties (117/119 Renwick) for a combined price.
- Corner Location with Municipal Services: Situated on a corner lot with access to all city services.
- Two‑Family Brick Home: Offers two separate 3‑bedroom units, ideal for rental income or multi‑generational living.
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
$44,046
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
6.29%
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%
$880,920
$880.9K
Cap Rate 7%
$629,229
$629.2K
Cap Rate 9%
$489,400
$489.4K
Market Conditions
NOI Build-Up for 2,216 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
$65.2K $29.40/SF
− Vacancy
−$2.2K −$1.01/SF
EGI
$62.9K $28.39/SF
− OpEx
−$18.9K −$8.52/SF
NOI
$44.0K $19.88/SF
Area
Orange County, NY
Vacancy
3.42%
Lease Rate
$29.40 /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%
$880,920
Cap Rate 7%
$629,229
Cap Rate 9%
$489,400
Alternative Uses
Best Use
Multifamily LT 5
$629.2K
$550.6K – $734.1K
NOI $44,046 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$592.2K
$518.1K – $690.9K
NOI $41,451 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$750.5K
$656.7K – $875.6K
NOI $52,537 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,470
Businesses Nearby
Explore this area
Business Placement
Demographics for 12550, NY
55,869
Population
22,204
Households
2.5
Avg Household Size
37
Median Age
26%
College-Educated
86%
High-School Grad
34.7 sq mi
ZIP Area
1,610
Density / Sq Mi
$78,019
Median Household Income
$40,762
Median Earnings
$1,466
Median Rent
$297,400
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?
Duplex - Three residential income properties in Newburgh, NY, sold as package.
Where is this duplex located?
The property is located at 121 Renwick St Newburgh, NY.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 3‑Property Package Available: Purchase with adjacent properties (117/119 Renwick) for a combined price.; Corner Location with Municipal Services: Situated on a corner lot with access to all city services.; Two‑Family Brick Home: Offers two separate 3‑bedroom units, ideal for rental income or multi‑generational living.
