Versatile Multi-Unit Property in Red
32 Old Route 199, Red Hook, NY 12571
Multi-Unit (2-4) - Red Hook, NY
Property size:
3,500 SFLot size:
4.00 AcresPrice / SF:
$256/SF- Added:
- Apr 22, 2026
- Days on Market:
- 54
- Last Refresh:
- Jun 14 at 12:06 am
Property Features for 32 Old Route 199
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- 600
- Bedrooms
- 6
- Bathrooms
- 7
- Rooms
- Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Den, Dining Room, Kitchen, Living Room
- Parking features
- Garage
- Basement Y/N
- 1
- Standard status
- Active
- APN
- 134889 6172-00-625810-0000
- Size
- 3,500 SF
- Lot size
- 4.00 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 11470
Utilities
- Heating system
- Forced Air, Oil
Building Details
- Year built
- 1976
- Year renovated
- 1976
- Floors in Building
- 1
- Architectural style
- Other
Listing agent Jennifer Fivelsdal (845) 758-6842
Listing office JFIVE HOMES REALTY LLC 162 DEER RUN RD, RED HOOK, NY (845) 758-6842
Listing date Apr 22, 2026
MLS# 11715926
Listing URL
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Flexible living arrangement: Easily converts between two separate units and a single‑family home.
- Income potential: Unit one generates long‑term rental income, and unit two has a successful Airbnb track record.
- Private and secluded: Located at the end of a long driveway on four acres with mature trees and gardens.
- Prime location: Short stroll to the village, offering both seclusion and convenience.
- Multiple outbuildings: Includes a cottage, former sheep barn, and chicken coops, providing functional and charming spaces.
- Two units with fireplaces: Each unit features a wood‑burning fireplace and an additional wood stove.
Overview
Located near the village of Red Hook, Shepard's Knoll is a property featuring seclusion, character, and versatility. Situated on four acres with mature trees and gardens, this property offers both retreat and convenience. Originally a single-family residence, the home has been converted into two units, separated by one wall, allowing for a return to a single-family estate. Unit one includes four bedrooms and three bathrooms, with a finished basement, and generates long-term rental income. Unit two features two bedrooms and two bathrooms and has been used as an Airbnb. Both residences include a wood-burning fireplace and a wood stove. Expansive decks and porches offer space for relaxing and entertaining. The grounds include outbuildings such as a cottage suited for an artist's studio or fitness space, a former sheep barn for storage, chicken coops, and a garden area. The property is suitable for a private country sanctuary, an income-producing investment, or a flexible living arrangement. The property size is 3500 square feet. The zoning is 600.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $97.9k | $27.96 |
| − Vacancy | −$5.1k | −$1.45 |
| EGI | $92.8k | $26.51 |
| − OpEx | −$27.8k | −$7.95 |
| NOI | $64.9k | $18.55 |
3,500 SF · lease $27.96/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$927.7K
$811.8K – $1.08M
NOI $64,940 @ 7.0% cap · market cap 7.22%
Second Best
Apartment 5plus
$859.0K
$751.6K – $1.00M
NOI $60,129 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$1.05M
$921.9K – $1.23M
NOI $73,749 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Shepherds Knoll
Vacation Rental
Location Insight
- Map
- Local Demand
- City
- Red Hook
- County
- Dutchess
- State
- New York
- Longitude
- -73.905727
- Latitude
- 41.997974
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Two-unit property on four acres near Red Hook village.
Where is this duplex located?
The property is located at 32 Old Route 199 Red Hook, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Flexible living arrangement: Easily converts between two separate units and a single‑family home.; Income potential: Unit one generates long‑term rental income, and unit two has a successful Airbnb track record.; Private and secluded: Located at the end of a long driveway on four acres with mature trees and gardens.
