Duplex Renovation
For Sale
$479,500
10 Clinton Street, Sleepy Hollow, NY 10591
Legal two-family property requiring substantial rehabilitation, with access to downtown amenities, transit, parks, and the Hudson River waterfront.
Property Size1,520 SF
Days on Market53
Property Features for 10 Clinton Street
General Information
Standard status
Active
Size
1,520 SF
Property subtype
Residential Income
Property Condition
Severity
Major Repairs Needed
Evidence
full rehabilitation
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,297
Building Details
Building Size
1,520 SF
Year Built
1900
Buildings
1
Units
2
Listing Agency:
Coldwell Banker Realty
(914) 997-0097
Listed By:
Gregory G. Cole
(914) 997-0097
Source:
Millenniumhomes
Added: Jul 10
Changed: Aug 29
Last Checked: Aug 29 at 10:22AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This legal two-family duplex dates to 1900 and is being offered in its current as-is condition. The property requires substantial renovation and is suited to a full rehabilitation program, subject to verification of condition, zoning, permits, and future use. A rear porch provides seasonal views toward the Governor Mario M. Cuomo Bridge.
The property is located in Sleepy Hollow, within convenient reach of the downtown area, Metro-North train station, Hudson River waterfront, parks, restaurants, shopping, and the RiverWalk. Its two-family configuration provides a defined residential income-property format, while the existing condition leaves the scope of improvements for a purchaser to evaluate and determine.
The property is located in Sleepy Hollow, within convenient reach of the downtown area, Metro-North train station, Hudson River waterfront, parks, restaurants, shopping, and the RiverWalk. Its two-family configuration provides a defined residential income-property format, while the existing condition leaves the scope of improvements for a purchaser to evaluate and determine.
Key Highlights
- Legal two‑family duplex in Sleepy Hollow
- Built in 1900
- Offered strictly as‑is and requires substantial renovation
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
$29,606
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
6.17%
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%
$592,120
$592.1K
Cap Rate 7%
$422,943
$422.9K
Cap Rate 9%
$328,956
$329.0K
Market Conditions
NOI Build-Up for 1,520 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
$45.2K $29.76/SF
− Vacancy
−$2.9K −$1.93/SF
EGI
$42.3K $27.83/SF
− OpEx
−$12.7K −$8.35/SF
NOI
$29.6K $19.48/SF
Area
Westchester County, NY
Vacancy
6.50%
Lease Rate
$29.76 /SF/Yr
Expense Ratio
30.00%
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%
$592,120
Cap Rate 7%
$422,943
Cap Rate 9%
$328,956
Alternative Uses
Best Use
Multifamily LT 5
$422.9K
$370.1K – $493.4K
NOI $29,606 @ 7.0% cap · market cap 6.17%
Second Best
Apartment 5plus
$372.4K
$325.9K – $434.5K
NOI $26,071 @ 7.0% cap · market cap 5.44%
Theoretical Best
Retail
$459.1K
$401.8K – $535.7K
NOI $32,140 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,405
Businesses Nearby
Explore this area
Business Placement
Demographics for 10591, NY
23,301
Population
10,566
Households
2.2
Avg Household Size
41
Median Age
54%
College-Educated
87%
High-School Grad
9.4 sq mi
ZIP Area
2,479
Density / Sq Mi
$103,480
Median Household Income
$61,537
Median Earnings
$1,943
Median Rent
$661,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family property requiring substantial rehabilitation, with access to downtown amenities, transit, parks, and the Hudson River waterfront.
Where is this duplex located?
The property is located at 10 Clinton Street Sleepy Hollow, NY.
What is the asking price?
The asking price for this property is $479,500.
What are key features of this property?
This property features: Legal two‑family duplex in Sleepy Hollow; Built in 1900; Offered strictly as‑is and requires substantial renovation
