Multifamily Property with Detached
For Sale
$635,000
1614 Route 9g, Hyde Park, NY 12538
Two buildings offer varied residential layouts and recent system upgrades for rental use.
Property Size1,579 SF
Lot Size2.50 Acres
Days on Market27
Property Features for 1614 Route 9g
General Information
Standard status
Active
Size
1,579 SF
Total Parking Spaces
8
Lot size
2.50 Acres
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 1BR, 1 x 2BR, 1 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,870
Building Details
Building Size
1,579 SF
Year Built
1956
Buildings
2
Units
4
Listing Agency:
K. Fortuna Realty, Inc.
(845) 849-5066
Listed By:
Patricia J. Hohmann
(845) 849-5066
Source:
Maurafinnegan
Added: Aug 4
Changed: Aug 29
Last Checked: Aug 29 at 2:09PM
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 K. Fortuna Realty, Inc.
Investment Insights
Based on property information with market context.
This multifamily property includes two separate dwellings with four units across 2.5 acres. The primary building contains two 1-bedroom units with sleeping lofts and one 2-bedroom unit, while the detached cottage provides a 2-bedroom, 1-bath layout on a single level with an open-concept interior. One loft unit also includes a custom built-in closet.
Recent improvements include new roofs, a new HVAC system and water filtration system in the cottage, and a new furnace in the multifamily building. The property fronts Route 9G near North Park Elementary, with access to downtown Hyde Park and Rhinebeck center for shopping, dining, and entertainment. The source information also identifies a 7.5% cap rate and describes potential for an owner-occupant to reside in the cottage while rental income offsets living expenses.
Recent improvements include new roofs, a new HVAC system and water filtration system in the cottage, and a new furnace in the multifamily building. The property fronts Route 9G near North Park Elementary, with access to downtown Hyde Park and Rhinebeck center for shopping, dining, and entertainment. The source information also identifies a 7.5% cap rate and describes potential for an owner-occupant to reside in the cottage while rental income offsets living expenses.
Key Highlights
- Two separate dwellings with four total units on 2.5 acres
- Main building includes two 1‑bedroom units with sleeping lofts and one 2‑bedroom unit
- Detached 2‑bedroom, 1‑bath cottage with open‑concept, single‑level layout
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
$29,297
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
4.61%
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%
$585,940
$585.9K
Cap Rate 7%
$418,529
$418.5K
Cap Rate 9%
$325,522
$325.5K
Market Conditions
NOI Build-Up for 1,579 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
$44.1K $27.96/SF
− Vacancy
−$2.3K −$1.45/SF
EGI
$41.9K $26.51/SF
− OpEx
−$12.6K −$7.95/SF
NOI
$29.3K $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%
$585,940
Cap Rate 7%
$418,529
Cap Rate 9%
$325,522
Alternative Uses
Best Use
Multifamily LT 5
$418.5K
$366.2K – $488.3K
NOI $29,297 @ 7.0% cap · market cap 4.61%
Second Best
Apartment 5plus
$387.5K
$339.1K – $452.1K
NOI $27,127 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$475.3K
$415.9K – $554.5K
NOI $33,271 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Explore this area
Business Placement
Demographics for 12538, NY
14,181
Population
5,609
Households
2.5
Avg Household Size
41
Median Age
30%
College-Educated
93%
High-School Grad
25.5 sq mi
ZIP Area
556
Density / Sq Mi
$86,641
Median Household Income
$44,926
Median Earnings
$1,190
Median Rent
$287,900
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?
Multifamily property - Two buildings offer varied residential layouts and recent system upgrades for rental use.
Where is this multifamily property located?
The property is located at 1614 Route 9g Hyde Park, NY.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: Two separate dwellings with four total units on 2.5 acres; Main building includes two 1‑bedroom units with sleeping lofts and one 2‑bedroom unit; Detached 2‑bedroom, 1‑bath cottage with open‑concept, single‑level layout
