Creekside Multi-Unit Income
For Sale
$1,500,000
5 Churchill St, Beacon, NY 12508
Restored two-unit building with guest cottage, studio, garage, and direct Fishkill Creek waterfront.
Property Size4,673 SF
Price / SF$320.99
Days on Market1829
Property Features for 5 Churchill St
General Information
Standard status
Active
Size
4,673 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
3
Amenities
sunroom
private terrace
wood burning stove
clawfoot copper tub
media closet
laundry
fully-tiled bathroom
GENERAC generator
garage
dry basement
direct waterfront
Building Details
Year Built
1900
Stories
3
Tenancy
Multi
Listing Agency:
COMPASS GREATER NY LLC BE
(845) 831-9550
Listed By:
THALASSA GLASSON
(917) 841-6224
Source:
Xome
Added: Aug 4, 2021
Changed: Jul 22
Last Checked: Aug 6 at 3:55AM
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 COMPASS GREATER NY LLC BE
Investment Insights
Based on property information with market context.
This creekside property has been beautifully restored and features a main two-unit building plus a guest cottage and additional structures. The main unit spans the second and third floors and includes wide-plank hardwood floors and exposed brick. Interior highlights include an open-concept kitchen, a dining space with a wood burning stove, and a sunroom. The second floor provides a bedroom with an adjacent side room, along with a full bath featuring a clawfoot copper tub. The third floor includes a large living area with a media closet, three bedrooms, laundry, and a fully-tiled bathroom suite. The first-floor apartment offers an open-concept living, kitchen, and dining layout with two bedrooms, one full bath, and in-unit laundry, along with 10-foot-plus ceilings.
On the property, there is a bonus 600 sq ft artist/work studio and a garage in the back, plus a restored dry basement for additional storage and workspace. A Generac generator is also included. The lot includes roughly 100 feet of direct waterfront on Fishkill Creek. There are three separate meters and hot water heaters, and the guest cottage includes one bedroom and one full bath, along with kitchen and living space. Tenants are month-to-month, and the sale is offered AS IS.
On the property, there is a bonus 600 sq ft artist/work studio and a garage in the back, plus a restored dry basement for additional storage and workspace. A Generac generator is also included. The lot includes roughly 100 feet of direct waterfront on Fishkill Creek. There are three separate meters and hot water heaters, and the guest cottage includes one bedroom and one full bath, along with kitchen and living space. Tenants are month-to-month, and the sale is offered AS IS.
Key Highlights
- Direct waterfront on Fishkill Creek with roughly 100 feet of frontage
- Restored two‑unit building plus guest cottage and bonus 600 SF artist/work studio
- Main 2nd/3rd floor units feature wide‑plank hardwood floors, exposed brick, and open‑concept kitchen
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
$86,704
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
5.78%
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%
$1,734,080
$1.7M
Cap Rate 7%
$1,238,629
$1.2M
Cap Rate 9%
$963,378
$963.4K
Market Conditions
NOI Build-Up for 4,673 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
$130.7K $27.96/SF
− Vacancy
−$6.8K −$1.45/SF
EGI
$123.9K $26.51/SF
− OpEx
−$37.2K −$7.95/SF
NOI
$86.7K $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%
$1,734,080
Cap Rate 7%
$1,238,629
Cap Rate 9%
$963,378
Alternative Uses
Best Use
Multifamily LT 5
$1.24M
$1.08M – $1.45M
NOI $86,704 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$1.15M
$1.00M – $1.34M
NOI $80,281 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,466 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,063
Businesses Nearby
Explore this area
Business Placement
Demographics for 12508, NY
19,537
Population
8,798
Households
2.2
Avg Household Size
43
Median Age
41%
College-Educated
86%
High-School Grad
14.4 sq mi
ZIP Area
1,357
Density / Sq Mi
$88,510
Median Household Income
$59,498
Median Earnings
$1,700
Median Rent
$401,500
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 - Restored two-unit building with guest cottage, studio, garage, and direct Fishkill Creek waterfront.
Where is this duplex located?
The property is located at 5 Churchill St Beacon, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Direct waterfront on Fishkill Creek with roughly 100 feet of frontage; Restored two‑unit building plus guest cottage and bonus 600 SF artist/work studio; Main 2nd/3rd floor units feature wide‑plank hardwood floors, exposed brick, and open‑concept kitchen
