Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    230 Drake Ave New Rochelle, NY 10805

    Sponsored
    For Sale
    Pending
    $1,150,000

    Colonial, Duplex - New Rochelle, NY

    Type:Duplex
    Property size:
    4,237 SF
    Lot size:
    0.36 Acres
    Days on Market:
    111
    Last Refresh:
    Feb 3 at 5:06 am

    Property Features for 230 Drake Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Standard status
    Pending
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    8
    Bathrooms
    4
    APN
    1000-000-002-00473-000-0021
    Parking
    10
    Parking features
    Driveway, Garage
    Basement Y/N
    1
    Size
    4,237 SF
    Lot size
    0.36 Acres

    Utilities

    Heating system
    Natural Gas

    Building Details

    Year built
    1900
    Number of units
    2
    Building materials
    Stone, Vinyl Siding
    Architectural style
    Colonial

    We can help!

    Listing Contact
    Thomas J. Ralph
    Thomas J. Ralph

    Thomas J. Ralph, Inc. (915) 576-2500

    Listing agent Thomas J. Ralph (914) 413-1697 License #31RA0783359

    Listing date Oct 16, 2025

    MLS# 915298 Listing URL

    Copyright © 2025 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Updated Legal Two-Family Duplex

    This updated legal two-family duplex is located on the south end of New Rochelle, New York, in close proximity to Glen Island Beach and Park. The property, situated on a 0.36-acre lot, features a 4,237 square feet structure. The property offers parking space for at least 10 cars. Note that 24-hour notice is required for showings, and the apartments do not have leases.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Gordo Trucking Corporation Trucking Company

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Rochelle
    County
    Westchester
    State
    New York
    Longitude
    -73.7839252
    Latitude
    40.8964401

    Nearby Similar for Sale

    • $849,000
      Pending

      Spacious Two-Family Home with Income

      Well-maintained duplex with income potential in New Rochelle, NY.
      161 Stephenson Blvd, New Rochelle, NY 10801
      View Details
    • $825,000
      Pending

      Spacious Multi-Family Home

      Well-maintained 2-family property in New Rochelle with ample storage.
      20 Pelhamside Dr, New Rochelle, NY 10801
      View Details
    • $1,200,000
      0.11 Acres

      New Rochelle Multifamily Investment Property

      Multifamily property with three 3-bedroom apartments in New Rochelle.
      114 Lincoln Ave, New Rochelle, NY 10801
      View Details
    • $1,275,000
      Pending

      Pelham Two-Family Home with Updates

      Updated two-family home in Pelham near train and shops.
      311 Sixth Ave, Pelham, NY 10803
      View Details
    • New
      $775,000
      Pending

      New Rochelle Legal Three-Family

      Legal three-family with additional lots in New Rochelle, NY.
      44 Rockdale Ave, New Rochelle, NY 10801
      View Details
    • $585,000
      Pending

      Pelham Duplex Near Downtown

      Two-family property near school, shops, restaurants, and train station.
      226 Fourth Ave, Pelham, NY 10803
      View Details
    • New
      $972,000
      0.05 Acres

      Commercial Space in Vibrant Pelham

      Prime commercial space with established tenant in Pelham, New York.
      504 5Th Ave, Pelham, NY 10803
      View Details
    • $785,000
      Pending

      New Rochelle Duplex Investment Opportunity

      Tenant-occupied duplex in good condition near shopping, dining, and transit.
      52 Ashland St, New Rochelle, NY 10801
      View Details
    • New
      $1,350,000
      Pending

      Turnkey Four-Family Corner Lot Property

      Well-maintained, updated four-family property in New Rochelle near transportation.
      87 Sickles Ave, New Rochelle, NY 10801
      View Details
    • $899,000
      Pending

      Renovated Duplex in New Rochelle

      Spacious, renovated 6-bedroom, 3-bathroom duplex in a prime location.
      20 Treno St, New Rochelle, NY 10801
      View Details
    • $1,250,000
      0.17 Acres

      Renovated New Rochelle Multifamily Property

      Six renovated apartments with parking in New Rochelle.
      6163 Horton Ave, New Rochelle, NY 10801
      View Details
    • $795,000
      2,000 SF

      Waterfront Penthouse with Detached Studio

      Luxury penthouse condo with water views, studio, and garage.
      2 Harbor Ln, New Rochelle, NY 10805
      View Details

    FAQs

    What type of property is this?
    Duplex - Updated legal duplex near Glen Island Beach and Park.
    Where is this duplex located?
    The property is located at 230 Drake Ave New Rochelle, NY.
    What is the asking price?
    The asking price for this property is $1,150,000.
    What are key features of this property?
    This property features: - Updated 2-Family Property, perfect for investors or owner-occupants.; - Close to Glen Island Beach and Park, enjoy easy access to recreation and stunning waterfront views.; - Plenty of Parking (at least 10 cars), a rare and valuable feature.
    (914) 413-1697
    Request Owner's contact information
    230 Drake Ave New Rochelle, NY 10805
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    230 Drake Ave
    New Rochelle, NY 10805
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    230 Drake Ave New Rochelle, NY 10805
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Thomas J. Ralph
    Thomas J. Ralph
    Real Estate License ID: 31RA0783359
    (914) 413-1697
    Learn more
    Google sign-in failed. Please try again or use another login method.