Ossining Two-Family Home with
41 Ellis Place Ossining, NY 10562
For Sale
$550,000
Pending
MULTI_FAMILY - Colonial - Ossining, NY
Property Size2,276 SF
Lot Size0.17 Acres
Days on Market101
Property Features for 41 Ellis Place
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
3
Rooms
Bedroom 4, Bedroom 5, Bathroom 1, Bedroom 6, Bathroom 2, Bedroom 3, Basement, Bedroom 1, Bedroom 2, Bathroom 3
Parking features
Driveway
Interior features
Walk Through Kitchen
Basement
Storage Space
Standard status
Pending
APN
4203-089-020-00000-000-0030-000-0-3
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
16435
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Building Details
Year built
1912
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Shingle Siding
Architectural style
Colonial
Listing Agency:
Century 21 Full Service Realty
(845) 639-1234
Listed By:
Paula C. Esteves
(914) 760-6138
Added: Apr 21
Changed: Jul 17
Last Checked: Jul 30 at 8:06AM
MLS# 991931
Copyright © 2026 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.
Investment Insights
Based on property information with market context.
Located in the heart of Ossining, this legal two-family property offers a versatile living arrangement with income potential. The property includes a five-bedroom unit with three full bathrooms, as well as a separate studio apartment with a private entrance. Situated on a 7,405 sq ft lot, the home provides approximately 2,276 sq ft of living space. Architectural details include a mansard-style roof and a covered front porch. The interior features multiple living areas, generous room sizes, hardwood floors, large windows, and high ceilings. The layout allows for flexible living arrangements. The property includes a large private driveway with ample off-street parking, a spacious backyard, and a patio area. A detached structure and additional outdoor space offer further potential. The property is located on a quiet residential street, close to downtown Ossining, shops, restaurants, parks, and the Hudson River waterfront. Commuters benefit from easy access to Metro-North, providing convenient access to NYC. The location is near major employment hubs including White Plains, Tarrytown, and Stamford, contributing to strong demand in the area. This property is suitable for investors or owner-occupants looking to generate rental income.
Key Highlights
- Legal 2‑family layout with a separate studio apartment and its own private entrance
- Approx. 2,276 sq ft living space with 5 bedrooms and 3 full baths plus additional studio space
- 7,405 sq ft lot with a covered front porch, spacious backyard, and patio area
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $67.7k | $29.76 |
| − Vacancy | −$4.4k | −$1.93 |
| EGI | $63.3k | $27.83 |
| − OpEx | −$19.0k | −$8.35 |
| NOI | $44.3k | $19.48 |
2,276 SF · lease $29.76/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$633.3K
$554.2K – $738.9K
NOI $44,332 @ 7.0% cap · market cap 8.06%
Second Best
Apartment 5plus
$557.7K
$488.0K – $650.6K
NOI $39,037 @ 7.0% cap · market cap 7.10%
Theoretical Best
Retail
$687.5K
$601.6K – $802.1K
NOI $48,125 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family home with separate studio in Ossining, NY.
Where is this duplex located?
The property is located at 41 Ellis Place Ossining, NY.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Legal 2‑family layout with a separate studio apartment and its own private entrance; Approx. 2,276 sq ft living space with 5 bedrooms and 3 full baths plus additional studio space; 7,405 sq ft lot with a covered front porch, spacious backyard, and patio area
