Brick Duplex with Two-Car
For Sale
$749,000
1089 Mile Square Road, Yonkers, NY 10704
Two apartments include a finished walk-out basement, driveway parking, and outdoor yard areas.
Property Size3,356 SF
Price / SF$265.51
Days on Market21
Property Features for 1089 Mile Square Road
General Information
Standard status
Active
Size
3,356 SF
Property subtype
Residential Income
Units
Unit Mix
2BR/1BA, 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,334
Amenities
finished walk-out basement
attached two-car garage
driveway parking
backyard
side yard
Building Details
Building Size
3,356 SF
Year Built
1927
Buildings
1
Units
2
Construction
brick
Listing Agency:
DeSimone Real Estate
(914) 563-5989
Listed By:
John Quartararo
(914) 563-5989
Source:
Cohenandcohenrealty
Added: Jul 23
Changed: Aug 12
Last Checked: Aug 12 at 12:24PM
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 DeSimone Real Estate
Investment Insights
Based on property information with market context.
Built in 1927, this all-brick duplex at 1089 Mile Square Road contains approximately 2,821 square feet of living space. The first residence has two bedrooms, one full bathroom, a living room, and an eat-in kitchen. The upper residence provides three bedrooms, one full bathroom, a living room, and an eat-in kitchen. A finished walk-out basement adds usable interior area, while the attached two-car garage and driveway provide on-site parking. The property also includes a backyard and a separate side yard on an oversized double lot.
The home is in Yonkers' Dunwoodie neighborhood, with access to Metro-North, Bee-Line bus routes, shopping, restaurants, parks, schools, and major parkways. Its two-unit configuration and distinct apartment layouts support multifamily ownership or occupancy.
The home is in Yonkers' Dunwoodie neighborhood, with access to Metro-North, Bee-Line bus routes, shopping, restaurants, parks, schools, and major parkways. Its two-unit configuration and distinct apartment layouts support multifamily ownership or occupancy.
Key Highlights
- All‑brick duplex on an oversized double lot
- Approximately 2,821 square feet of living space
- Two‑bedroom first‑floor apartment and three‑bedroom second‑floor apartment
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
$68,262
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
9.11%
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%
$1,365,240
$1.4M
Cap Rate 7%
$975,171
$975.2K
Cap Rate 9%
$758,467
$758.5K
Market Conditions
NOI Build-Up for 2,821 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
$106.6K $37.80/SF
− Vacancy
−$9.1K −$3.23/SF
EGI
$97.5K $34.57/SF
− OpEx
−$29.3K −$10.37/SF
NOI
$68.3K $24.20/SF
Area
Yonkers, NY
Vacancy
8.55%
Lease Rate
$37.80 /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%
$1,365,240
Cap Rate 7%
$975,171
Cap Rate 9%
$758,467
Alternative Uses
Best Use
Multifamily LT 5
$975.2K
$853.3K – $1.14M
NOI $68,262 @ 7.0% cap · market cap 9.11%
Second Best
Apartment 5plus
$895.6K
$783.6K – $1.04M
NOI $62,689 @ 7.0% cap · market cap 8.37%
Theoretical Best
—
—
same as Best Use
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
1,942
Businesses Nearby
Explore this area
Business Placement
Demographics for 10704, NY
32,426
Population
12,576
Households
2.6
Avg Household Size
42
Median Age
37%
College-Educated
88%
High-School Grad
2.7 sq mi
ZIP Area
12,010
Density / Sq Mi
$110,097
Median Household Income
$57,134
Median Earnings
$1,898
Median Rent
$508,100
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?
Duplex - Two apartments include a finished walk-out basement, driveway parking, and outdoor yard areas.
Where is this duplex located?
The property is located at 1089 Mile Square Road Yonkers, NY.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: All‑brick duplex on an oversized double lot; Approximately 2,821 square feet of living space; Two‑bedroom first‑floor apartment and three‑bedroom second‑floor apartment
