Historic Two-Story
For Sale
$289,000
Pending
29 N 3rd St, Hudson, NY 12534
Two residential units feature high ceilings, wood flooring, open interiors, and a full basement with backyard access.
Property Size2,000 SF
Days on Market1997
Property Features for 29 N 3rd St
General Information
Standard status
Pending
Size
2,000 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,032
Amenities
Full
3
Fiber shingle
Parking.
Street Parking.
Wood
Building Details
Year Built
1800
Buildings
1
Stories
2
Listing Agency:
RHINEBECK REAL ESTATE RH
(845) 389-7734
Listed By:
JULIE DONBROSKI
(845) 389-7734
Source:
Xome
Added: Mar 13, 2021
Changed: Aug 29
Last Checked: Aug 31 at 12:50PM
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 RHINEBECK REAL ESTATE RH
Investment Insights
Based on property information with market context.
This approximately 2,000-square-foot duplex occupies a two-story building dating to 1800. The property includes two residential units, with a large three-bedroom apartment on the first floor and a separate apartment reached by a prominent interior staircase. Original architectural details include moldings, high ceilings, wood floors, and spacious open areas. A full basement provides additional storage or utility space and connects directly to the small backyard through a walk-out.
The building is located at 29 N 3rd St in Hudson, New York, steps from Warren Street and around the corner from the Maker Hotel. Exterior features include fiber-shingle siding, wood construction, and street parking.
The building is located at 29 N 3rd St in Hudson, New York, steps from Warren Street and around the corner from the Maker Hotel. Exterior features include fiber-shingle siding, wood construction, and street parking.
Key Highlights
- Two‑story duplex with two residential units
- Approximately 2,000 square feet of building area
- First‑floor unit includes 3 bedrooms
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
$21,433
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
7.42%
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%
$428,660
$428.7K
Cap Rate 7%
$306,186
$306.2K
Cap Rate 9%
$238,144
$238.1K
Market Conditions
NOI Build-Up for 2,000 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
$32.4K $16.20/SF
− Vacancy
−$1.8K −$0.89/SF
EGI
$30.6K $15.31/SF
− OpEx
−$9.2K −$4.59/SF
NOI
$21.4K $10.72/SF
Area
Columbia County, NY
Vacancy
5.50%
Lease Rate
$16.20 /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%
$428,660
Cap Rate 7%
$306,186
Cap Rate 9%
$238,144
Alternative Uses
Best Use
Multifamily LT 5
$306.2K
$267.9K – $357.2K
NOI $21,433 @ 7.0% cap · market cap 7.42%
Second Best
Apartment 5plus
$268.7K
$235.1K – $313.5K
NOI $18,810 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$494.8K
$433.0K – $577.3K
NOI $34,637 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,097
Businesses Nearby
Explore this area
Business Placement
Demographics for 12534, NY
17,539
Population
9,613
Households
1.8
Avg Household Size
46
Median Age
33%
College-Educated
88%
High-School Grad
88.6 sq mi
ZIP Area
198
Density / Sq Mi
$76,086
Median Household Income
$40,823
Median Earnings
$1,296
Median Rent
$260,800
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?
Duplex - Two residential units feature high ceilings, wood flooring, open interiors, and a full basement with backyard access.
Where is this duplex located?
The property is located at 29 N 3rd St Hudson, NY.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Two‑story duplex with two residential units; Approximately 2,000 square feet of building area; First‑floor unit includes 3 bedrooms
