Two-Unit Colonial with Walk-Out
New
For Sale
$2,200,000
101 Summit Avenue, Mount Vernon, NY 10550
Residential Income, Mount Vernon, NY
Property Size5,000 SF
Lot Size0.34 Acres
Price / SF$440
Days on Market6
Property Features for 101 Summit Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
9
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 3, Bedroom 9, Bathroom 2, Bathroom 4, Bathroom 5, Bedroom 2, Bedroom 7, Basement, Bedroom 4, Bedroom 5, Bathroom 1, Bedroom 8, Bedroom 6, Bedroom 1, Bathroom 3
Patio and Porch features
Porch
Interior features
First Floor Bedroom, First Floor Full Bath, Marble Counters
Fireplace
1
Basement
Full
Elementary school
Lincoln School
Middle school
Lincoln School
High school
Mt Vernon High School
Elementary school district
Mount Vernon
Middle school district
Mount Vernon
High school district
Mount Vernon
Standard status
Active
APN
0800-165-056-02062-000-0016
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
22437
Utilities
Sewer type
Public Sewer
Heating system
Oil
Water source
Public
Building Details
Year built
1905
Number of units
2
Flooring type
Wood, Tile, Combination, Hardwood
Building materials
Frame
Architectural style
Colonial
Listing Agency:
R New York
(212) 688-1000
Listed By:
Helen Sobota Diaz
(917) 559-1184
Added: Aug 26
Changed: Aug 31
Last Checked: Aug 31 at 5:06PM
MLS# 1044383
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.
This 1905 Colonial is configured as a two-unit property totaling approximately 5,000 square feet. The residences include four bedrooms and 2.5 bathrooms in one unit, plus five bedrooms and two full bathrooms in the other. Interior features include high ceilings, wood and tile flooring, a fireplace, marble counters, a first-floor bedroom with full bath, and a den. One residence includes a brand-new kitchen, while the property also offers a walk-out basement and additional half bathrooms.
Set on a 0.3419-acre corner lot in Mount Vernon, the property includes a brand-new garage and driveway. Public water and public sewer serve the home. Metro-North, major highways, shopping, dining, and other transportation options are accessible from the property, with Manhattan approximately 30 minutes away.
Set on a 0.3419-acre corner lot in Mount Vernon, the property includes a brand-new garage and driveway. Public water and public sewer serve the home. Metro-North, major highways, shopping, dining, and other transportation options are accessible from the property, with Manhattan approximately 30 minutes away.
Key Highlights
- Two‑unit Colonial totaling approximately 5,000 Sq. Ft.
- Nine bedrooms across the two residences: 4 in one unit and 5 in the other
- 0.3419‑acre corner lot in Mount Vernon
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 - Nine-bedroom layout combines two residences with flexible living areas and one brand-new kitchen.
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: Two‑unit Colonial totaling approximately 5,000 Sq. Ft.; Nine bedrooms across the two residences: 4 in one unit and 5 in the other; 0.3419‑acre corner lot in Mount Vernon
