Charming Multi-Unit Investment
For Sale
Contact for pricing
106 Newport Bridge Road, Warwick, NY 10990
Five units in Warwick, renovated Cape Cod and single-family home.
Property Size6,691 SF
Lot Size0.22 Acres
Price / SF$209.09
Days on Market166
Property Features for 106 Newport Bridge Road
General Information
Standard status
Active
Size
6,691 SF
Total Parking Spaces
8
Lot size
0.22 Acres
Property subtype
Special Purpose
Zoning
00415
Occupancy
80%
Investment Type
Value Add
Net Operating Income
$54,473
Building Details
Year Built
1920
Buildings
2
Units
5
Listing Agency:
Better Homes and Gardens Real Estate
(845) 987-4206
Listed By:
Giovanni Lasalandra · License #10401332739
Source:
Crexi
Added: Mar 6
Changed: Aug 8
Last Checked: Aug 18 at 8:17PM
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 Better Homes and Gardens Real Estate
Investment Insights
Based on property information with market context.
Located in the Amity hamlet of Warwick Town, this investment property features a renovated 1920 Cape Cod-style converted multi-family residence containing four units: two one-bedroom units and two two-bedroom units. Additionally, there is a separate detached two-bedroom, two-bath single-family home constructed in 2010. The total building area is approximately 6,691 square feet, situated on 0.217 acres. The property has individual utilities throughout, including propane and electric for each unit, well water, and two septic systems. It is located in a low flood risk area (Zone X) and is part of the Warwick Valley school district. The property is close to farms, wineries, skiing areas, and other local amenities. It is suitable for investors or an owner-occupant seeking income potential.
Key Highlights
- Charming, renovated 5‑unit investment property in Warwick.
- Includes a 4‑unit converted 1920 Cape Cod and a separate 2‑bedroom/2‑bath single‑family home (built in 2010).
- Individual utilities for each unit (propane/electric, well water, two septic systems).
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
$125,158
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
8.95%
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%
$2,503,160
$2.5M
Cap Rate 7%
$1,787,971
$1.8M
Cap Rate 9%
$1,390,644
$1.4M
Market Conditions
NOI Build-Up for 6,691 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
$236.1K $35.28/SF
− Vacancy
−$8.5K −$1.27/SF
EGI
$227.6K $34.01/SF
− OpEx
−$102.4K −$15.30/SF
NOI
$125.2K $18.71/SF
Area
Orange County, NY
Vacancy
3.60%
Lease Rate
$35.28 /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%
$2,503,160
Cap Rate 7%
$1,787,971
Cap Rate 9%
$1,390,644
Alternative Uses
Best Use
Apartment 5plus
$1.79M
$1.56M – $2.09M
NOI $125,158 @ 7.0% cap · market cap 8.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.27M
$1.98M – $2.64M
NOI $158,631 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
Explore this area
Business Placement
Demographics for 10990, NY
19,877
Population
8,394
Households
2.4
Avg Household Size
46
Median Age
50%
College-Educated
95%
High-School Grad
61.4 sq mi
ZIP Area
324
Density / Sq Mi
$123,199
Median Household Income
$64,723
Median Earnings
$1,387
Median Rent
$462,100
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?
Apartment building - Five units in Warwick, renovated Cape Cod and single-family home.
Where is this apartment building located?
The property is located at 106 Newport Bridge Road Warwick, NY.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Charming, renovated 5‑unit investment property in Warwick.; Includes a 4‑unit converted 1920 Cape Cod and a separate **2‑bedroom/2‑bath single‑family home** (built in 2010).; Individual utilities for each unit (propane/electric, well water, two septic systems).
