Renovated Three-Unit
For Sale
$1,395,000
516518 516-518 State St, Hudson, NY 12534
Three connected residences feature individual kitchens, bedroom suites, and adaptable garden-level areas.
Property Size4,032 SF
Price / SF$345.98
Days on Market22
Property Features for 516518 516-518 State St
General Information
Standard status
Active
Size
4,032 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x 3BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Amenities
private rear garden
reserved parking
Building Details
Year Built
1910
Listing Agency:
Mahar Real Estate, LLC
(518) 965-1465
Listed By:
Daniel Mahar
Source:
Upstatecurious
Added: Aug 10
Changed: Aug 30
Last Checked: Aug 30 at 8:57PM
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 Mahar Real Estate, LLC
Investment Insights
Based on property information with market context.
Built in 1910, this 4,032-square-foot triplex at 516-518 State St comprises three attached townhomes. Each residence includes a kitchen and three bedrooms, with layouts that vary across the compound. Interior renovations introduce modern updates while retaining original architectural character. Connected garden-level rooms add storage and flexible space that can serve as media or guest areas. The property also includes separate utilities, a private rear garden, and reserved parking.
The compound is positioned near Warren Street in Hudson, with access to the Pocketbook Factory, The Maker Hotel, fine dining, and the Amtrak station. A restored front facade reinforces the building’s established architectural identity. Existing Airbnb and rental history provides an operating record for the three-unit configuration.
The compound is positioned near Warren Street in Hudson, with access to the Pocketbook Factory, The Maker Hotel, fine dining, and the Amtrak station. A restored front facade reinforces the building’s established architectural identity. Existing Airbnb and rental history provides an operating record for the three-unit configuration.
Key Highlights
- Three attached townhomes, each with a kitchen and three bedrooms
- 4,032 SF triplex built in 1910
- Renovated interiors combine modern updates with original architectural character
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
$43,208
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
3.10%
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%
$864,160
$864.2K
Cap Rate 7%
$617,257
$617.3K
Cap Rate 9%
$480,089
$480.1K
Market Conditions
NOI Build-Up for 4,032 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
$65.3K $16.20/SF
− Vacancy
−$3.6K −$0.89/SF
EGI
$61.7K $15.31/SF
− OpEx
−$18.5K −$4.59/SF
NOI
$43.2K $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%
$864,160
Cap Rate 7%
$617,257
Cap Rate 9%
$480,089
Alternative Uses
Best Use
Multifamily LT 5
$617.3K
$540.1K – $720.1K
NOI $43,208 @ 7.0% cap · market cap 3.10%
Second Best
Apartment 5plus
$541.7K
$474.0K – $632.0K
NOI $37,921 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$997.5K
$872.9K – $1.16M
NOI $69,828 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,402
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three connected residences feature individual kitchens, bedroom suites, and adaptable garden-level areas.
Where is this triplex located?
The property is located at 516518 516-518 State St Hudson, NY.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Three attached townhomes, each with a kitchen and three bedrooms; 4,032 SF triplex built in 1910; Renovated interiors combine modern updates with original architectural character
