Two-Unit Residential Income
For Sale
Contact for pricing
305 State Street, Hudson, NY 12534
Two-unit home with three bedrooms per unit, full basement systems updates, and off-street outdoor space.
Property Size1,736 SF
Price / SF$245.33
Days on Market53
Property Features for 305 State Street
General Information
Standard status
Active
Size
1,736 SF
Property subtype
Multifamily
Zoning
R4
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Red Apple Realty
Listed By:
Jahorul Liton · License #10401343987
Source:
Crexi
Added: Jun 29
Changed: Aug 10
Last Checked: Aug 20 at 12:31AM
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 Red Apple Realty
Investment Insights
Based on property information with market context.
This two-family residential property includes two separate units, each featuring three bedrooms, a living room, an eat-in kitchen, and a full bath. The building also offers outdoor space in the backyard, which can be used for gardening or potentially configured as a patio area. Recent improvements include a new roof and replacement of the downstairs boiler and hot water tank in 2025.
Located on State Street in Hudson, the property is positioned within the heart of the city, with walkable access to Warren Street and Amtrak. The surrounding area is known for local dining, antiques, and art galleries, supporting a steady mix of visitors and residents.
For buyers seeking a residential income setup with two independent units, this layout provides flexibility for either owner-occupancy or fully tenanted use. With both units currently rented, the property may appeal to investors looking for an established rental configuration, while the updated building systems and dedicated outdoor space add practical value for day-to-day ownership.
Located on State Street in Hudson, the property is positioned within the heart of the city, with walkable access to Warren Street and Amtrak. The surrounding area is known for local dining, antiques, and art galleries, supporting a steady mix of visitors and residents.
For buyers seeking a residential income setup with two independent units, this layout provides flexibility for either owner-occupancy or fully tenanted use. With both units currently rented, the property may appeal to investors looking for an established rental configuration, while the updated building systems and dedicated outdoor space add practical value for day-to-day ownership.
Key Highlights
- Two‑family home with 3 bedrooms per unit, plus a living room, eat‑in kitchen, and full bath in each unit
- Both units are currently rented (below market rents per public remarks)
- New roof and downstairs boiler and hot water tank replaced in 2025
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
$18,603
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
4.37%
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%
$372,060
$372.1K
Cap Rate 7%
$265,757
$265.8K
Cap Rate 9%
$206,700
$206.7K
Market Conditions
NOI Build-Up for 1,736 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
$28.1K $16.20/SF
− Vacancy
−$1.5K −$0.89/SF
EGI
$26.6K $15.31/SF
− OpEx
−$8.0K −$4.59/SF
NOI
$18.6K $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%
$372,060
Cap Rate 7%
$265,757
Cap Rate 9%
$206,700
Alternative Uses
Best Use
Multifamily LT 5
$265.8K
$232.5K – $310.1K
NOI $18,603 @ 7.0% cap · market cap 4.37%
Second Best
Apartment 5plus
$233.2K
$204.1K – $272.1K
NOI $16,327 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$429.5K
$375.8K – $501.1K
NOI $30,065 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,362
Businesses Nearby
Explore this area
Business Placement
Demographics for 12534, NY
17,539
Population
9,613
Households
1.8
Avg Household Size
46
Median Age
33%
College-Educated
88%
High-School Grad
88.6 sq mi
ZIP Area
198
Density / Sq Mi
$76,086
Median Household Income
$40,823
Median Earnings
$1,296
Median Rent
$260,800
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?
Duplex - Two-unit home with three bedrooms per unit, full basement systems updates, and off-street outdoor space.
Where is this duplex located?
The property is located at 305 State Street Hudson, NY.
What is the asking price?
The asking price for this property is $425,900.
What are key features of this property?
This property features: Two‑family home with 3 bedrooms per unit, plus a living room, eat‑in kitchen, and full bath in each unit; Both units are currently rented (below market rents per public remarks); New roof and downstairs boiler and hot water tank replaced in 2025
