Corner-Lot Two-Unit
New
For Sale
$2,200,000
101 Summit Avenue, Mount Vernon, NY 10550
Large corner parcel with separate residences, new kitchen improvements, and walk-out basement access.
Property Size5,000 SF
Price / SF$440
Days on Market4
Property Features for 101 Summit Avenue
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Triplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 4BR/2.5BA, 1 x 5BR/2.5BA
Multifamily Units
2
Additional Details
Asking Price
$2,200,000
Taxes and HOA fees
Annual Taxes
$22,436
Building Details
Building Size
5,000 SF
Year Built
1905
Listing Agency:
R New York
(917) 559-1184
Listed By:
Helen Sobota Diaz
Source:
Shawmetro
Added: Aug 28
Changed: Aug 31
Last Checked: Aug 31 at 9:06AM
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 R New York
Investment Insights
Based on property information with market context.
Built in 1905, this duplex contains approximately 5,000 square feet across two separate residences. One residence offers 4 bedrooms, 2.5 bathrooms, a large kitchen, high ceilings, and expansive living and entertaining areas. The second includes 5 bedrooms, 2 full bathrooms, a brand-new kitchen, a first-floor bedroom with a full bathroom, a den, and a walk-out basement with an additional half bathroom.
Exterior improvements include a brand-new garage and driveway on a prominent corner lot. The property is approximately 30 minutes from Manhattan, with access to Metro-North, major highways, shopping, dining, and transportation. The two-unit layout provides flexibility for a multigenerational residence or an income-producing investment.
Exterior improvements include a brand-new garage and driveway on a prominent corner lot. The property is approximately 30 minutes from Manhattan, with access to Metro-North, major highways, shopping, dining, and transportation. The two-unit layout provides flexibility for a multigenerational residence or an income-producing investment.
Key Highlights
- Approximately 5,000 Sq. Ft. duplex with two separate residences
- First residence includes 4 bedrooms and 2.5 bathrooms
- Second residence offers 5 bedrooms and 2 full bathrooms
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
$97,390
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
4.43%
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%
$1,947,800
$1.9M
Cap Rate 7%
$1,391,286
$1.4M
Cap Rate 9%
$1,082,111
$1.1M
Market Conditions
NOI Build-Up for 5,000 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
$148.8K $29.76/SF
− Vacancy
−$9.7K −$1.93/SF
EGI
$139.1K $27.83/SF
− OpEx
−$41.7K −$8.35/SF
NOI
$97.4K $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%
$1,947,800
Cap Rate 7%
$1,391,286
Cap Rate 9%
$1,082,111
Alternative Uses
Best Use
Multifamily LT 5
$1.39M
$1.22M – $1.62M
NOI $97,390 @ 7.0% cap · market cap 4.43%
Second Best
Apartment 5plus
$1.23M
$1.07M – $1.43M
NOI $85,759 @ 7.0% cap · market cap 3.90%
Theoretical Best
Retail
$1.51M
$1.32M – $1.76M
NOI $105,722 @ 7.0% cap · market cap 4.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,169
Businesses Nearby
Explore this area
Business Placement
Demographics for 10550, NY
41,137
Population
16,865
Households
2.4
Avg Household Size
38
Median Age
23%
College-Educated
82%
High-School Grad
2.0 sq mi
ZIP Area
20,569
Density / Sq Mi
$56,903
Median Household Income
$43,733
Median Earnings
$1,451
Median Rent
$482,600
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 - Large corner parcel with separate residences, new kitchen improvements, and walk-out basement access.
Where is this duplex located?
The property is located at 101 Summit Avenue Mount Vernon, NY.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Approximately 5,000 Sq. Ft. duplex with two separate residences; First residence includes 4 bedrooms and 2.5 bathrooms; Second residence offers 5 bedrooms and 2 full bathrooms
