255-257 Mill rd. Mill
About This Property
Located in one of the most desirable area of Rhinebeck, this 3.3-acre property with direct Landsmen Kill frontage offers endless potential. The existing 4-bedroom,2-bath home needs some work-perfect for those looking to renovate and restore or build a brand-new dream home in a truly exceptional setting.
Enjoy the rare combination of privacy, natural beauty, and proximity to Rhinebeck village, all in one of the Hudson valleys most prestigious neighborhoods. A unique opportunity to invest in location, land, and lifestyle.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 29, 2025 | Sold | ||
| Sold | |||
| Aug 15, 2025 | In contract | - | |
| In contract | |||
| Jul 22, 2025 | Listed by Houlihan Lawrence Inc. | $495,500 | |
| Listed by Houlihan Lawrence Inc. | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017