Building Details

Building Size 2,784 SF

Year Built 1890

Construction Arts and Crafts

Listing Agency: Red Apple Realty r***@redappler.com Show Phone

Listed By: Barbara Robinson · License #31RO1022439

Source: Tkgre

Added: Aug 7 Changed: Aug 11 Last Checked: Aug 20 at 11:50AM

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Investment Insights

Based on property information with market context.

Built in 1890, this Arts and Crafts-style duplex combines preserved architectural character with practical living space. The main residence includes an entry foyer, double parlors, dining room, kitchen with granite countertops, butler’s pantry, three bedrooms, a full bath, and a flexible rear room with its own entrance. Porches and a spacious patio extend the usable living areas.

The finished lower-level apartment has a separate entrance and electric service, along with an open living room, dining area, kitchen, one bedroom, and a full bath. Set on a .34 Acre lot, the property also includes a blacktop drive, detached garage, workshop, and carport area. The home is within walking distance of village amenities, including the town park, shops, restaurants, High Falls Conservation Area, and Hawthorne Valley farm store and school.

Key Highlights

• Arts and Crafts‑style duplex built in 1890
• Main residence includes three bedrooms plus a flexible rear room with separate entrance
• Finished lower‑level apartment with one bedroom, full bath, kitchen, and separate electric

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

$29,834

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

7.02%

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%

$596,680 $596.7K

Cap Rate 7%

$426,200 $426.2K

Cap Rate 9%

$331,489 $331.5K

Market Conditions

NOI Build-Up for 2,784 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

$45.1K $16.20/SF

− Vacancy

−$2.5K −$0.89/SF

EGI

$42.6K $15.31/SF

− OpEx

−$12.8K −$4.59/SF

NOI

$29.8K $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%

$596,680

Cap Rate 7%

$426,200

Cap Rate 9%

$331,489

Alternative Uses

Best Use

Multifamily LT 5

$426.2K

$372.9K – $497.2K (±1% cap)

NOI $29,834 @ 7.0% cap · market cap 7.02%

Second Best

Apartment 5plus

$374.1K

$327.3K – $436.4K (±1% cap)

NOI $26,184 @ 7.0% cap · market cap 6.16%

Theoretical Best

Office A

$688.8K

$602.7K – $803.6K (±1% cap)

NOI $48,214 @ 7.0% cap · market cap 11.34%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Building Supply Auto Repair Shop Auto Parts Store Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

122

Businesses Nearby

Explore this area Business Placement

Demographics for 12565, NY

1,402

Population

744

Households

1.9

Avg Household Size

43

Median Age

26%

College-Educated

97%

High-School Grad

1.4 sq mi

ZIP Area

1,001

Density / Sq Mi

$62,972

Median Household Income

$32,734

Median Earnings

$1,036

Median Rent

$215,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Duplex - Separate lower apartment offers flexible guest, family, or rental use with its own entrance and electric service.

Where is this duplex located?

The property is located at 69 Church Street Philmont, NY.

What is the asking price?

The asking price for this property is $425,000.

What are key features of this property?

This property features: Arts and Crafts‑style duplex built in 1890; Main residence includes three bedrooms plus a flexible rear room with separate entrance; Finished lower‑level apartment with one bedroom, full bath, kitchen, and separate electric