6-Unit Apartment
New
For Sale
$1,750,000
1 Parker Dr, Mahopac, NY 10541
Individual entrances and basement storage provide separation and dedicated space for residents.
Property Size5,985 SF
Days on Market2
Property Features for 1 Parker Dr
General Information
Standard status
Active
Size
5,985 SF
Property subtype
Commercial
Occupancy
100%
Net Operating Income
$118,907
Units
Unit Mix
2 x 1BR, 3 x 2BR, 1 x 3BR
Multifamily Units
6
Additional Details
Gross Income
$166,410
Taxes and HOA fees
Annual Taxes
$21,188
Amenities
wraparound porch
storage area
shed access
Building Details
Building Size
5,985 SF
Year Built
1911
Buildings
1
Units
6
Listing Agency:
William Raveis Real Estate
Listed By:
Katherine Bellantoni · License #RES.0826086
(914) 804-1775
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 2:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of William Raveis Real Estate
Investment Insights
Based on property information with market context.
This 6-unit apartment building, constructed in 1911, contains two 1-bedroom apartments, three 2-bedroom apartments and one 3-bedroom apartment. The 3-bedroom unit includes laundry. Individual entrances serve the apartments, and each unit has dedicated basement storage as well as access to a shed. A wraparound porch is part of the building’s entry configuration.
All six apartments are occupied. The property is on Parker Drive in Mahopac, in a residential area described as being near the Westchester County border.
All six apartments are occupied. The property is on Parker Drive in Mahopac, in a residential area described as being near the Westchester County border.
Key Highlights
- Six occupied apartments: two 1‑bedroom, three 2‑bedroom and one 3‑bedroom unit
- Built in 1911
- Individual entrances and a wraparound porch
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$146,300
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.36%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,926,000
$2.9M
Cap Rate 7%
$2,090,000
$2.1M
Cap Rate 9%
$1,625,556
$1.6M
Market Conditions
NOI Build-Up for 5,985 SF
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.
Gross rent
$276.5K $46.20/SF
− Vacancy
−$10.5K −$1.76/SF
EGI
$266.0K $44.44/SF
− OpEx
−$119.7K −$20.00/SF
NOI
$146.3K $24.44/SF
Area
Putnam County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,926,000
Cap Rate 7%
$2,090,000
Cap Rate 9%
$1,625,556
Alternative Uses
Best Use
Apartment 5plus
$2.09M
$1.83M – $2.44M
NOI $146,300 @ 7.0% cap · market cap 8.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.96M
$3.46M – $4.62M
NOI $277,001 @ 7.0% cap · market cap 15.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
71
Businesses Nearby
Explore this area
Business Placement
Demographics for 10541, NY
25,651
Population
9,614
Households
2.7
Avg Household Size
43
Median Age
43%
College-Educated
93%
High-School Grad
24.8 sq mi
ZIP Area
1,034
Density / Sq Mi
$133,929
Median Household Income
$58,450
Median Earnings
$1,967
Median Rent
$472,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Individual entrances and basement storage provide separation and dedicated space for residents.
Where is this apartment building located?
The property is located at 1 Parker Dr Mahopac, NY.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Six occupied apartments: two 1‑bedroom, three 2‑bedroom and one 3‑bedroom unit; Built in 1911; Individual entrances and a wraparound porch
