Renovated Two-Unit
For Sale
$650,000
133 N Smith Road, Lagrangeville, NY 12540
Flexible property with separate residences, landscaped grounds, a second-floor deck, sunroom, and abundant driveway parking.
Property Size2,936 SF
Lot Size1.23 Acres
Days on Market80
Property Features for 133 N Smith Road
General Information
Standard status
Active
Size
2,936 SF
Lot size
1.23 Acres
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,879
Amenities
second-floor deck
sunroom
whole-house generator
water filtration system
landscaped grounds
oversized driveway
Building Details
Building Size
2,936 SF
Year Built
1985
Units
2
Listing Agency:
KW Hudson Valley North
(845) 481-2700
Listed By:
Arleen Sepulveda
(845) 401-2540
Source:
Professionalchoicerealty
Added: Jun 22
Changed: Sep 8
Last Checked: Aug 30 at 5:40PM
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 KW Hudson Valley North
Investment Insights
Based on property information with market context.
Set on 1.23 acres, this duplex includes a three-bedroom, two-bath main residence and a separate two-bedroom, one-bath unit. The primary home includes living areas and access to a second-floor deck, while the second residence features a sunroom with direct backyard access. Both units have updated flooring, cabinetry, and appliances.
The property also includes a newer roof, whole-house generator, and water filtration system. Level, landscaped grounds provide space for outdoor use, gardening, and recreation, with an oversized driveway serving residents and guests. Built in 1985, the property is located at 133 N Smith Road in Lagrangeville, near the Taconic State Parkway, Routes 55 and 82, Millbrook Village, parks, dining, and shopping.
The property also includes a newer roof, whole-house generator, and water filtration system. Level, landscaped grounds provide space for outdoor use, gardening, and recreation, with an oversized driveway serving residents and guests. Built in 1985, the property is located at 133 N Smith Road in Lagrangeville, near the Taconic State Parkway, Routes 55 and 82, Millbrook Village, parks, dining, and shopping.
Key Highlights
- 1.23‑acre duplex property in Lagrangeville, NY
- Main residence includes 3 bedrooms and 2 bathrooms
- Second unit offers 2 bedrooms and 1 bathroom
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
$54,475
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
8.38%
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%
$1,089,500
$1.1M
Cap Rate 7%
$778,214
$778.2K
Cap Rate 9%
$605,278
$605.3K
Market Conditions
NOI Build-Up for 2,936 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
$82.1K $27.96/SF
− Vacancy
−$4.3K −$1.45/SF
EGI
$77.8K $26.51/SF
− OpEx
−$23.3K −$7.95/SF
NOI
$54.5K $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%
$1,089,500
Cap Rate 7%
$778,214
Cap Rate 9%
$605,278
Alternative Uses
Best Use
Multifamily LT 5
$778.2K
$680.9K – $907.9K
NOI $54,475 @ 7.0% cap · market cap 8.38%
Second Best
Apartment 5plus
$720.6K
$630.5K – $840.7K
NOI $50,440 @ 7.0% cap · market cap 7.76%
Theoretical Best
Office A
$883.8K
$773.3K – $1.03M
NOI $61,865 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Explore this area
Business Placement
Demographics for 12540, NY
7,666
Population
3,318
Households
2.3
Avg Household Size
44
Median Age
43%
College-Educated
96%
High-School Grad
35.3 sq mi
ZIP Area
217
Density / Sq Mi
$107,436
Median Household Income
$47,849
Median Earnings
$2,077
Median Rent
$443,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Flexible property with separate residences, landscaped grounds, a second-floor deck, sunroom, and abundant driveway parking.
Where is this duplex located?
The property is located at 133 N Smith Road Lagrangeville, NY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1.23‑acre duplex property in Lagrangeville, NY; Main residence includes 3 bedrooms and 2 bathrooms; Second unit offers 2 bedrooms and 1 bathroom
