Renovated Duplex with
For Sale
$259,000
2261 State Route 66, Ghent, NY 12075
Both apartments offer two bedrooms and in-unit laundry appliances.
Property Size2,064 SF
Price / SF$125.48
Days on Market172
Property Features for 2261 State Route 66
General Information
Standard status
Active
Size
2,064 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$3,256
Listing Agency:
PREFERRED COUNTRY PROPERTIES
Listed By:
M. Natalia de Amorim
(518) 392-5600
Source:
Exprealty
Added: Apr 13
Changed: Sep 29
Last Checked: Oct 1 at 3:03PM
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 PREFERRED COUNTRY PROPERTIES
Investment Insights
Based on property information with market context.
This renovated duplex contains two apartments, each with two bedrooms and 2,064 SF of total property area. Refrigerators, ranges with ovens, and washer-dryer sets are provided in both units. A covered porch faces the front, with a veranda extending over it on the second floor.
The property is 3 miles from Chatham Village and schools, and 9 miles from Hudson and Amtrak. A town park with tennis courts, Bartlett House cafe, and Dairy Queen are also within walking distance.
The property is 3 miles from Chatham Village and schools, and 9 miles from Hudson and Amtrak. A town park with tennis courts, Bartlett House cafe, and Dairy Queen are also within walking distance.
Key Highlights
- Two two‑bedroom apartments in a renovated duplex
- 2,064 SF of total property area
- Each apartment includes a refrigerator, range/oven, and washer/dryer
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
$22,118
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
8.54%
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%
$442,360
$442.4K
Cap Rate 7%
$315,971
$316.0K
Cap Rate 9%
$245,756
$245.8K
Market Conditions
NOI Build-Up for 2,064 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
$33.4K $16.20/SF
− Vacancy
−$1.8K −$0.89/SF
EGI
$31.6K $15.31/SF
− OpEx
−$9.5K −$4.59/SF
NOI
$22.1K $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%
$442,360
Cap Rate 7%
$315,971
Cap Rate 9%
$245,756
Alternative Uses
Best Use
Multifamily LT 5
$316.0K
$276.5K – $368.6K
NOI $22,118 @ 7.0% cap · market cap 8.54%
Second Best
Apartment 5plus
$277.3K
$242.7K – $323.5K
NOI $19,412 @ 7.0% cap · market cap 7.49%
Theoretical Best
Office A
$510.6K
$446.8K – $595.8K
NOI $35,745 @ 7.0% cap · market cap 13.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
66
Businesses Nearby
Explore this area
Business Placement
Demographics for 12075, NY
3,135
Population
1,348
Households
2.3
Avg Household Size
50
Median Age
37%
College-Educated
88%
High-School Grad
36.3 sq mi
ZIP Area
86
Density / Sq Mi
$83,443
Median Household Income
$48,368
Median Earnings
$1,375
Median Rent
$384,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Both apartments offer two bedrooms and in-unit laundry appliances.
Where is this duplex located?
The property is located at 2261 State Route 66 Ghent, NY.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Two two‑bedroom apartments in a renovated duplex; 2,064 SF of total property area; Each apartment includes a refrigerator, range/oven, and washer/dryer
