Building Details

Year Built 1900

Stories 2

Units 2

Tenancy Multi

Listing Agency: Columbia County RE Specialist m***@gmail.com Show Phone

Listed By: Julie Sylvia · License #10401395622

Source: Crexi

Added: Jun 9 Changed: Aug 7 Last Checked: Aug 9 at 9:22AM

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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 Columbia County RE Specialist

Investment Insights

Based on property information with market context.

This two-family duplex is in excellent condition and features two separate 2-bedroom, 1-bath apartments. The home has beautiful wood flooring throughout, updated kitchens, and newly redone bathrooms. Additional improvements include new windows and updated appliances included with the sale. There is also an electric vehicle charging station on the garage, along with a roof that is only a few years old. Outside, the property offers a front and back yard and separate parking areas for each unit.

Located on Route 7A / Main Street in the hamlet of Copake, the home is within easy walking distance of restaurants, banks, a grocery store, and the post office. Each apartment has separate meters and separate utilities, supporting a self-sufficient setup for both tenants.

From an occupancy and management standpoint, the duplex configuration provides two independently metered apartments, which can simplify day-to-day operations. The property is currently rented, with the downstairs unit leased at $2,500 per month and the upstairs unit leased at $2,000 per month, reflecting a straightforward income-oriented use case for an owner looking to maintain ongoing rental revenue.

Key Highlights

• Two‑family home in excellent condition, built in 1900, with both units set up with separate meters and utilities
• Each unit is a 2‑bedroom, 1‑bath apartment with updated kitchens and redone bathrooms
• Income performance: downstairs rented for $2,500/mo and upstairs rented for $2,000/mo

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

$21,540

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

4.32%

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%

$430,800 $430.8K

Cap Rate 7%

$307,714 $307.7K

Cap Rate 9%

$239,333 $239.3K

Market Conditions

NOI Build-Up for 2,010 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

$32.6K $16.20/SF

− Vacancy

−$1.8K −$0.89/SF

EGI

$30.8K $15.31/SF

− OpEx

−$9.2K −$4.59/SF

NOI

$21.5K $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%

$430,800

Cap Rate 7%

$307,714

Cap Rate 9%

$239,333

Alternative Uses

Best Use

Multifamily LT 5

$307.7K

$269.3K – $359.0K (±1% cap)

NOI $21,540 @ 7.0% cap · market cap 4.32%

Second Best

Apartment 5plus

$270.1K

$236.3K – $315.1K (±1% cap)

NOI $18,904 @ 7.0% cap · market cap 3.79%

Theoretical Best

Office A

$497.3K

$435.1K – $580.2K (±1% cap)

NOI $34,810 @ 7.0% cap · market cap 6.98%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Auto Repair Shop Auto Parts Store Furniture & Home Goods (Bike/Boat/Book/etc) Store HVAC Service Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

6

Businesses Nearby

Explore this area Business Placement

Demographics for 12516, NY

1,722

Population

990

Households

1.7

Avg Household Size

49

Median Age

34%

College-Educated

86%

High-School Grad

20.5 sq mi

ZIP Area

84

Density / Sq Mi

$126,667

Median Household Income

$59,253

Median Earnings

$2,008

Median Rent

$227,000

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Well-maintained duplex with updated kitchens, separate utilities, and an on-site EV charging station.

Where is this duplex located?

The property is located at 203 County Route 7a Copake, NY.

What is the asking price?

The asking price for this property is $499,000.

What are key features of this property?

This property features: Two‑family home in excellent condition, built in 1900, with both units set up with separate meters and utilities; Each unit is a 2‑bedroom, 1‑bath apartment with updated kitchens and redone bathrooms; Income performance: downstairs rented for $2,500/mo and upstairs rented for $2,000/mo