Four-Family Investment
For Sale
$3,200,000
4-8 Donlo Dr, Fishkill, NY 12524
Three fully rented four-family properties totaling 35+ acres zoned RMF5 with separate electric meters.
Property Size8,928 SF
Lot Size35.00 Acres
Days on Market68
Property Features for 4-8 Donlo Dr
General Information
Standard status
Active
Size
8,928 SF
Lot size
35.00 Acres
Property subtype
Investment
Zoning
RMF5
Occupancy
100%
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$10,603
Building Details
Building Size
8,928 SF
Year Built
1965
Units
12
Tenancy
Multi
Listing Agency:
Keller Williams Realty Partners
(845) 222-0751
Listed By:
John Gabriel
(845) 222-0751
Source:
Elliman
Added: Jun 3
Changed: Aug 8
Last Checked: Aug 8 at 12:46PM
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 Keller Williams Realty Partners
Investment Insights
Based on property information with market context.
This offering includes three separate fully rented four-family properties, each with 2-bedroom, 1-bath units. The configuration creates straightforward residential income across multiple buildings, with municipal water and sewer, natural gas, and separate electric meters for each unit.
The properties are located in the Town of Fishkill at 4-8 Donlo Dr, NY 12524. The seller notes convenient access to I-84 and Route 9, along with nearby shopping and dining. The property is zoned RMF5.
With RMF5 zoning and multiple existing income units, this asset may fit investors looking for a multi-building residential portfolio and developers evaluating redevelopment or expansion opportunities within the Town of Fishkill. Each unit’s separate electric meters can also simplify utility management for an owner-operator or acquiring investor.
The properties are located in the Town of Fishkill at 4-8 Donlo Dr, NY 12524. The seller notes convenient access to I-84 and Route 9, along with nearby shopping and dining. The property is zoned RMF5.
With RMF5 zoning and multiple existing income units, this asset may fit investors looking for a multi-building residential portfolio and developers evaluating redevelopment or expansion opportunities within the Town of Fishkill. Each unit’s separate electric meters can also simplify utility management for an owner-operator or acquiring investor.
Key Highlights
- 35+ acres in the Town of Fishkill with three fully rented four‑family properties
- Each unit offers 2 bedrooms and 1 bath across the three properties
- Zoned RMF5
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
$165,652
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
5.18%
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%
$3,313,040
$3.3M
Cap Rate 7%
$2,366,457
$2.4M
Cap Rate 9%
$1,840,578
$1.8M
Market Conditions
NOI Build-Up for 8,928 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
$249.6K $27.96/SF
− Vacancy
−$13.0K −$1.45/SF
EGI
$236.6K $26.51/SF
− OpEx
−$71.0K −$7.95/SF
NOI
$165.7K $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%
$3,313,040
Cap Rate 7%
$2,366,457
Cap Rate 9%
$1,840,578
Alternative Uses
Best Use
Multifamily LT 5
$2.37M
$2.07M – $2.76M
NOI $165,652 @ 7.0% cap · market cap 5.18%
Second Best
Apartment 5plus
$2.19M
$1.92M – $2.56M
NOI $153,381 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$2.69M
$2.35M – $3.14M
NOI $188,124 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
338
Businesses Nearby
Explore this area
Business Placement
Demographics for 12524, NY
15,617
Population
6,702
Households
2.3
Avg Household Size
46
Median Age
36%
College-Educated
94%
High-School Grad
16.8 sq mi
ZIP Area
930
Density / Sq Mi
$95,713
Median Household Income
$59,017
Median Earnings
$1,806
Median Rent
$373,000
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?
Quadplex - Three fully rented four-family properties totaling 35+ acres zoned RMF5 with separate electric meters.
Where is this quadplex located?
The property is located at 4-8 Donlo Dr Fishkill, NY.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 35+ acres in the Town of Fishkill with three fully rented four‑family properties; Each unit offers 2 bedrooms and 1 bath across the three properties; Zoned RMF5
