Two-Unit Duplex with Detached
For Sale
$705,000
420 Rhinecliff Road, Rhinebeck, NY 12572
Legal two-family property with separate apartments, a detached garage, and access to Rhinecliff Amtrak station.
Property Size2,906 SF
Days on Market25
Property Features for 420 Rhinecliff Road
General Information
Standard status
Active
Size
2,906 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,864
Building Details
Building Size
2,906 SF
Year Built
1860
Units
2
Listing Agency:
Four Seasons Sothebys Intl
(917) 865-0213
Listed By:
Juliana Botta
(917) 865-0213
Source:
Cohenandcohenrealty
Added: Jul 27
Changed: Aug 17
Last Checked: Aug 19 at 3:17PM
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 Four Seasons Sothebys Intl
Investment Insights
Based on property information with market context.
This legal two-family property is arranged as a 2-bedroom first-floor apartment and a 3-bedroom upper apartment, providing a clearly divided residential layout. The property also includes a detached garage on the adjoining parcel, with possible studio, guest-house, or workspace conversion subject to town approval.
Set across two parcels totaling nearly an acre, the property is located near the Rhinecliff Amtrak station and minutes from Rhinebeck village. Recent improvements include a new roof and HVAC system installed in 2026, along with a hot water heater and sump pump added in 2022. The upper-level kitchen may also be reconfigured into an ensuite primary bathroom with access to a private rear deck, subject to the applicable approvals.
Set across two parcels totaling nearly an acre, the property is located near the Rhinecliff Amtrak station and minutes from Rhinebeck village. Recent improvements include a new roof and HVAC system installed in 2026, along with a hot water heater and sump pump added in 2022. The upper-level kitchen may also be reconfigured into an ensuite primary bathroom with access to a private rear deck, subject to the applicable approvals.
Key Highlights
- Legal two‑family layout with 2‑bedroom and 3‑bedroom apartments
- Nearly an acre across two parcels
- Detached garage with possible studio, guest‑house, or workspace conversion, subject to town approval
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
$53,919
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
7.65%
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%
$1,078,380
$1.1M
Cap Rate 7%
$770,271
$770.3K
Cap Rate 9%
$599,100
$599.1K
Market Conditions
NOI Build-Up for 2,906 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
$81.3K $27.96/SF
− Vacancy
−$4.2K −$1.45/SF
EGI
$77.0K $26.51/SF
− OpEx
−$23.1K −$7.95/SF
NOI
$53.9K $18.55/SF
Area
Dutchess County, NY
Vacancy
5.20%
Lease Rate
$27.96 /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%
$1,078,380
Cap Rate 7%
$770,271
Cap Rate 9%
$599,100
Alternative Uses
Best Use
Multifamily LT 5
$770.3K
$674.0K – $898.7K
NOI $53,919 @ 7.0% cap · market cap 7.65%
Second Best
Apartment 5plus
$713.2K
$624.1K – $832.1K
NOI $49,924 @ 7.0% cap · market cap 7.08%
Theoretical Best
Office A
$874.8K
$765.4K – $1.02M
NOI $61,233 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
51
Businesses Nearby
Explore this area
Business Placement
Demographics for 12572, NY
9,258
Population
4,785
Households
1.9
Avg Household Size
55
Median Age
51%
College-Educated
95%
High-School Grad
51.0 sq mi
ZIP Area
182
Density / Sq Mi
$96,377
Median Household Income
$59,583
Median Earnings
$1,631
Median Rent
$458,500
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 - Legal two-family property with separate apartments, a detached garage, and access to Rhinecliff Amtrak station.
Where is this duplex located?
The property is located at 420 Rhinecliff Road Rhinebeck, NY.
What is the asking price?
The asking price for this property is $705,000.
What are key features of this property?
This property features: Legal two‑family layout with 2‑bedroom and 3‑bedroom apartments; Nearly an acre across two parcels; Detached garage with possible studio, guest‑house, or workspace conversion, subject to town approval
