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40 S Hamilton Street

Poughkeepsie, NY 12601
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Bed --

Bed

Bath 0

Bath

Acres0.34

Acre(Lot)

Investment Opportunity – High Cash Flow Property in the Heart of Poughkeepsie Presenting 40 S. Hamilton Street, a rare opportunity to acquire a proven income-producing property in the City of Poughkeepsie. This well-established rooming house consists of nine private single-occupancy rooms, seven bathrooms, providing affordable and independent living accommodations that serve a critical role in the local housing market. This property is a grandfathered rooming house (meaning no other property can be zoned as a rooming house without a special permit). Coin operated laundry also included in the basement. The property has demonstrated strong and consistent performance, currently generating approximately $100,000 in annual gross rental income with a current NOI of $49,315. Residents enjoy acc ess to shared common areas including a communal kitchen, lounge, and hallway facilities on each floor, creating a practical and cost-effective housing solution for tenants. Situated on a generous lot, the property features a large rear driveway with ample off-street parking, a valuable amenity for both tenants and management. A substantial basement provides additional storage space and operational flexibility. For investors seeking immediate cash flow, this property is generating income from day one. Beyond its current performance, there are multiple avenues for future upside. Four apartment conversion is allowed by right. If you split the lot, you can build eight apartments on a knockdown. Student housing is also permitted outright (with Marist, Vassar, Dutchess Community College, and CIA nearby). You can also continue operating as a successful rooming house rental property. The combination of strong in-place income, parking, storage, and future value-add potential makes this an attractive acquisition for both experienced and aspiring investors. Additionally, there is a small parking lot in the rear of the building. Whether you're looking to expand your portfolio with a stabilized asset or capitalize on redevelopment and repositioning opportunities, 40 S. Hamilton Street offers a compelling blend of cash flow, flexibility, and long-term potential in a growing rental market.

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Detail Ic Property Details

Property Type : Residential Income

Price : $735,000

AD Id : 90942193

MLS Id : 1045579

Lot Size : 0.34 Acre

Year Built : 1890

County : Dutchess

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Feature Features

  • Room Information

    Basement: Full, Partially Finished, Storage Space
  • Interior Features

    Built-in Features, Other
  • Heating & Cooling

    Has Heating: Yes Heating: Natural Gas, Other Cooling: None

  • Building Information

    Year Built: 1890 Building Area Total: 6900 Construction Materials: Brick Private Pool: No

  • Lot Information

    Lot Size Acres: 0.34 Lot Size Square Feet: 14810

  • Listing Price Information

    Listing Price: $735000

  • Tax Information

    Parcel Number: 131300-6161-22-162944-0000 Annual Tax: $17939.8

  • Parking Information

    Driveway

  • School Information

    Elementary School: Gov George Clinton School
    Junior High School: Poughkeepsie Middle School
    Senior High School: Poughkeepsie High School
  • Utility Information

    Cable Available, Electricity Available, Water Available
  • Location Information

    WaterSource: Public
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
33 Manitou Avenue, Poughkeepsie, NY, 12601 $449,999 6 2 -- 0.08 Acre
9 Lawrence Road, Poughkeepsie, NY, 12601 $465,000 4 2 -- 0.10 Acre
362 Mansion Street, Poughkeepsie, NY, 12601 $435,000 4 2 -- 0.23 Acre
11 S White Street, Poughkeepsie, NY, 12601 $439,000 4 3 -- 0.09 Acre
26 Lent Street, Poughkeepsie, NY, 12601 $399,900 -- -- -- 0.09 Acre
112 Smith Street, Poughkeepsie, NY, 12601 $399,000 4 2 -- 0.15 Acre
21 Lent Street, Poughkeepsie, NY, 12601 $459,000 4 2 -- 0.07 Acre
55 Smith Street, Poughkeepsie, NY, 12601 $480,000 2 2 -- 0.06 Acre
1 Park Place, Poughkeepsie, NY, 12601 $500,000 4 2 -- 0.06 Acre
193 N Hamilton Street, Poughkeepsie, NY, 12601 $439,000 5 2 -- 0.19 Acre

The data relating to real estate for sale on this website comes in part from the Internet Data exchange of OneKey MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright © 2026 OneKey MLS. All Rights Reserved

ByOwner last updated this listing 09/02/2026 @ 05:37

MLS: 1045579 LISTED BY: Jorge Lugo, Real Broker NY LLC 855-450-0442 SOURCE: OneKey MLS

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