Two-Family Home with
For Sale
$699,000
113 Rhodes Street, New Rochelle, NY 10801
Separate one- and three-bedroom layouts offer flexibility for occupancy, multigenerational living, or rental use.
Property Size1,618 SF
Days on Market60
Property Features for 113 Rhodes Street
General Information
Standard status
Active
Size
1,618 SF
Total Parking Spaces
3
Property subtype
Residential Income
Units
Unit Mix
1 x 1BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,793
Building Details
Building Size
1,618 SF
Year Built
1922
Units
2
Listing Agency:
Jeffrey F. Wright
(203) 614-8711
Listed By:
Christopher A. Carozza
(203) 614-8711
Source:
Callexitfirst
Added: Jul 2
Changed: Aug 28
Last Checked: Aug 28 at 11:29AM
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 Jeffrey F. Wright
Investment Insights
Based on property information with market context.
This two-family home, built in 1922, contains two distinct residences: a one-bedroom, one-bath unit and a three-bedroom, one-bath unit. The configuration supports owner occupancy, multigenerational living, or renting one residence while occupying the other. A detached garage provides 2-car parking and additional storage, while the backyard adds usable outdoor space for gardening, entertaining, or everyday enjoyment.
The property is located in New Rochelle near shops, restaurants, parks, public transportation, and major commuter routes. Its separate-unit layout, off-street parking, storage, and outdoor area combine to create a practical residential income property with multiple occupancy options.
The property is located in New Rochelle near shops, restaurants, parks, public transportation, and major commuter routes. Its separate-unit layout, off-street parking, storage, and outdoor area combine to create a practical residential income property with multiple occupancy options.
Key Highlights
- Two‑family property with one 1‑bedroom, 1‑bath unit and one 3‑bedroom, 1‑bath unit
- Detached 2‑car garage with additional storage
- Backyard provides outdoor space for gardening, entertaining, or relaxing
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
$31,515
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
4.51%
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%
$630,300
$630.3K
Cap Rate 7%
$450,214
$450.2K
Cap Rate 9%
$350,167
$350.2K
Market Conditions
NOI Build-Up for 1,618 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
$48.2K $29.76/SF
− Vacancy
−$3.1K −$1.93/SF
EGI
$45.0K $27.83/SF
− OpEx
−$13.5K −$8.35/SF
NOI
$31.5K $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%
$630,300
Cap Rate 7%
$450,214
Cap Rate 9%
$350,167
Alternative Uses
Best Use
Multifamily LT 5
$450.2K
$393.9K – $525.3K
NOI $31,515 @ 7.0% cap · market cap 4.51%
Second Best
Apartment 5plus
$396.5K
$346.9K – $462.5K
NOI $27,752 @ 7.0% cap · market cap 3.97%
Theoretical Best
Retail
$488.7K
$427.7K – $570.2K
NOI $34,212 @ 7.0% cap · market cap 4.89%
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
2,640
Businesses Nearby
Explore this area
Business Placement
Demographics for 10801, NY
42,949
Population
16,912
Households
2.5
Avg Household Size
37
Median Age
43%
College-Educated
85%
High-School Grad
3.4 sq mi
ZIP Area
12,632
Density / Sq Mi
$83,534
Median Household Income
$50,274
Median Earnings
$1,742
Median Rent
$555,000
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 - Separate one- and three-bedroom layouts offer flexibility for occupancy, multigenerational living, or rental use.
Where is this duplex located?
The property is located at 113 Rhodes Street New Rochelle, NY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two‑family property with one 1‑bedroom, 1‑bath unit and one 3‑bedroom, 1‑bath unit; Detached 2‑car garage with additional storage; Backyard provides outdoor space for gardening, entertaining, or relaxing
