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10 Eastman Ter 5 Unit Apartment Building $950,000 ($190,000/Unit) 8.55% Cap Rate Poughkeepsie, NY 12601
Executive Summary
Income-producing multifamily opportunity delivering an 8.5% current cap rate, with potential to reach approximately 10.5% at pro forma rents. This 5-unit property features (1) 1-bedroom apartment, (2) 3-bedroom apartments, and (2) 4-bedroom apartments, generating $117,480 in current gross annual income. All tenants pay for heat, hot water, and electricity, while the landlord is responsible for water and sewer. The sale also includes a separately deeded 9-car parking lot, with one parking space for each unit, and every apartment has an in-unit washer/dryer hookup. Located near major anchors such as Route 9, the Mid-Hudson Bridge, Marist College, Vassar College, Dutchess Community College, and the Culinary Institute of America, the property offers strong in-place income with meaningful room for future upside. An ideal opportunity for investors seeking a stable, income-producing asset in a prime Poughkeepsie location. Income & expense information available upon request.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$117,480
|
$26.18
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$6,840
|
$1.52
|
| Effective Gross Income |
$110,640
|
$24.65
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $117,480 |
| Annual Per SF | $26.18 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $6,840 |
| Annual Per SF | $1.52 |
| Effective Gross Income | |
|---|---|
| Annual | $110,640 |
| Annual Per SF | $24.65 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $950,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $190,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 8.55% | Building Size | 4,488 SF |
| No. Units | 5 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | ||
| Zoning | R-3 | ||
| Price | $950,000 |
| Price Per Unit | $190,000 |
| Sale Type | Investment |
| Cap Rate | 8.55% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 4,488 SF |
| No. Stories | 5 |
| Year Built | 1900 |
| Zoning | R-3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | - | - |
| 3+1 | 2 | - | - |
| 4+1 | 2 | - | - |
1 1
Moderately walkable
70/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 131300-6061-36-962836-0000 | Improvements Assessment | $384,000 |
| Land Assessment | $66,000 | Total Assessment | $450,000 |
Property Taxes
Parcel Number
131300-6061-36-962836-0000
Land Assessment
$66,000
Improvements Assessment
$384,000
Total Assessment
$450,000
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10 Eastman Ter