Updated 6-Unit Brick Apartment
New
For Sale
$950,000
144 Union St, Poughkeepsie, NY 12601
Fully leased apartments feature separate utilities and third-party property management.
Property Size4,050 SF
Days on Market2
Property Features for 144 Union St
General Information
Standard status
Active
Size
4,050 SF
Property subtype
Commercial
Occupancy
100%
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$21,117
Building Details
Building Size
4,050 SF
Year Built
1920
Units
6
Construction
brick
Listing Agency:
Berkshire Hathaway HomeServices Hudson Valley Properties Lagrangeville
(845) 473-1650
Listed By:
Brian Mossey · License #10401263453
(845) 473-1650
Source:
Elliman
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 12 at 4:40AM
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 Berkshire Hathaway HomeServices Hudson Valley Properties Lagrangeville
Investment Insights
Based on property information with market context.
Built in 1920, this six-unit brick apartment building contains updated apartments with efficient layouts, bright common gathering areas, quality finishes, and reliable mechanical systems. The property is fully leased, with separate utilities and third-party property management in place.
The building is located at 144 Union St in Poughkeepsie’s Union Street neighborhood, just over the Mid-Hudson bridge and approximately 1/2 mile from the Poughkeepsie Metro North train station. WalkScore is 63, TransitScore is 52, and BikeScore is 30.
The building is located at 144 Union St in Poughkeepsie’s Union Street neighborhood, just over the Mid-Hudson bridge and approximately 1/2 mile from the Poughkeepsie Metro North train station. WalkScore is 63, TransitScore is 52, and BikeScore is 30.
Key Highlights
- Six‑unit brick apartment building constructed in 1920
- All six apartments are updated and fully leased
- Separate utilities and third‑party property management in place
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
$69,578
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
7.32%
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%
$1,391,560
$1.4M
Cap Rate 7%
$993,971
$994.0K
Cap Rate 9%
$773,089
$773.1K
Market Conditions
NOI Build-Up for 4,050 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
$133.2K $32.88/SF
− Vacancy
−$6.7K −$1.64/SF
EGI
$126.5K $31.24/SF
− OpEx
−$56.9K −$14.06/SF
NOI
$69.6K $17.18/SF
Area
Dutchess County, NY
Vacancy
5.00%
Lease Rate
$32.88 /SF/Yr
Expense Ratio
45.00%
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%
$1,391,560
Cap Rate 7%
$993,971
Cap Rate 9%
$773,089
Alternative Uses
Best Use
Apartment 5plus
$994.0K
$869.7K – $1.16M
NOI $69,578 @ 7.0% cap · market cap 7.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,338 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,058
Businesses Nearby
Explore this area
Business Placement
Demographics for 12601, NY
44,264
Population
17,972
Households
2.5
Avg Household Size
35
Median Age
30%
College-Educated
88%
High-School Grad
18.3 sq mi
ZIP Area
2,419
Density / Sq Mi
$64,769
Median Household Income
$37,259
Median Earnings
$1,376
Median Rent
$275,800
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?
Apartment building - Fully leased apartments feature separate utilities and third-party property management.
Where is this apartment building located?
The property is located at 144 Union St Poughkeepsie, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Six‑unit brick apartment building constructed in 1920; All six apartments are updated and fully leased; Separate utilities and third‑party property management in place
