Three-Unit Residential Rental
24 Rock Street, Cold Spring, NY 10516
For Sale
$1,325,000
Three two-bedroom apartments offer in-unit laundry and separate electric meters.
Property Size2,400 SF
Price / SF$552.08
Days on Market196
Property Features for 24 Rock Street
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Furnished
Public Transit
Taxes and HOA fees
Annual Taxes
Amenities
in-unit washer/dryer
dishwasher
front porch
veranda
attic
basement
Eat-in Kitchen
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Houlihan Lawrence Inc.
Listed By:
William R. Pugh
(845) 265-5500
Source:
Gillianstewart
Added: Apr 28
Changed: Nov 7
Last Checked: Nov 8 at 8:00PM
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 Houlihan Lawrence Inc.
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Investment Insights
Based on property information with market context.
This 2,400-square-foot triplex contains three two-bedroom apartments, each with an eat-in kitchen, living room, washer and dryer, electric heat, electric hot water, and a separate electric meter. The top-floor unit also has a dishwasher. The building dates to 1900 and includes a full basement and an attic with approximately 7-foot ceilings. The property is furnished and can be purchased with or without its furnishings.
Outdoor features differ by floor: the first-floor apartment has a front porch, while the second-floor unit includes an outdoor veranda. The third-floor apartment has views of the Hudson River. The building is on Rock Street in Cold Spring, near shops, restaurants, hiking trails, and Metro-North Railroad service.
Outdoor features differ by floor: the first-floor apartment has a front porch, while the second-floor unit includes an outdoor veranda. The third-floor apartment has views of the Hudson River. The building is on Rock Street in Cold Spring, near shops, restaurants, hiking trails, and Metro-North Railroad service.
Key Highlights
- Three apartments, each with two bedrooms
- Each unit has a washer and dryer, separate electric meter, electric heat, and electric hot water
- Top‑floor apartment includes a dishwasher
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,306
Cap Rate
4.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,186,120
$1.2M
Cap Rate 7%
$847,229
$847.2K
Cap Rate 9%
$658,956
$659.0K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$92.2K $38.40/SF
− Vacancy
−$7.4K −$3.10/SF
EGI
$84.7K $35.30/SF
− OpEx
−$25.4K −$10.59/SF
NOI
$59.3K $24.71/SF
Area
Putnam County, NY
Vacancy
8.07%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,186,120
Cap Rate 7%
$847,229
Cap Rate 9%
$658,956
Alternative Uses
Best Use
Multifamily LT 5
$847.2K
$741.3K – $988.4K
NOI $59,306 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$838.1K
$733.3K – $977.8K
NOI $58,667 @ 7.0% cap · market cap 4.43%
Theoretical Best
Specialty Retail
$1.59M
$1.39M – $1.85M
NOI $111,078 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
453
Businesses Nearby
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Business Placement
Demographics for 10516, NY
5,462
Population
2,603
Households
2.1
Avg Household Size
49
Median Age
62%
College-Educated
97%
High-School Grad
31.5 sq mi
ZIP Area
173
Density / Sq Mi
$135,922
Median Household Income
$75,236
Median Earnings
$1,798
Median Rent
$625,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three two-bedroom apartments offer in-unit laundry and separate electric meters.
Where is this triplex located?
The property is located at 24 Rock Street Cold Spring, NY.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: Three apartments, each with two bedrooms; Each unit has a washer and dryer, separate electric meter, electric heat, and electric hot water; Top‑floor apartment includes a dishwasher
