Cape Cod Residential Income
For Sale
$847,500
114 Greenvale Avenue, Yonkers, NY 10703
Separate metering varies by unit, with baseboard heating and finished interior space.
Property Size1,930 SF
Days on Market71
Property Features for 114 Greenvale Avenue
General Information
Standard status
Active
Size
1,930 SF
Total Parking Spaces
2
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$11,891
Amenities
Separate Meters, Varies by Unit
Baseboard
Finished
Eat-in Kitchen, Entrance Foyer
Driveway
Garden
Cape Cod
Building Details
Building Size
1,930 SF
Year Built
1957
Listing Agency:
nortrud wolf spero
Listed By:
Nortrud Wolf Spero
(914) 968-7862
Source:
Evrealestate
Added: Jul 27
Changed: Oct 4
Last Checked: Oct 4 at 9:31AM
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 nortrud wolf spero
Investment Insights
Based on property information with market context.
Built in 1957, this Cape Cod-style residential income property includes finished interior space, an eat-in kitchen, and an entrance foyer. Baseboard heating serves the property, and separate meters vary by unit.
The property is located at 114 Greenvale Avenue in Yonkers, Westchester County. Exterior features include a driveway and garden.
The property is located at 114 Greenvale Avenue in Yonkers, Westchester County. Exterior features include a driveway and garden.
Key Highlights
- Cape Cod‑style residential income property built in 1957
- Separate meters vary by unit
- Baseboard heating
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
$42,889
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
5.06%
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%
$857,780
$857.8K
Cap Rate 7%
$612,700
$612.7K
Cap Rate 9%
$476,544
$476.5K
Market Conditions
NOI Build-Up for 1,930 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
$85.7K $44.40/SF
− Vacancy
−$7.7K −$4.00/SF
EGI
$78.0K $40.40/SF
− OpEx
−$35.1K −$18.18/SF
NOI
$42.9K $22.22/SF
Area
Yonkers, NY
Vacancy
9.00%
Lease Rate
$44.40 /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%
$857,780
Cap Rate 7%
$612,700
Cap Rate 9%
$476,544
Alternative Uses
Best Use
Apartment 5plus
$612.7K
$536.1K – $714.8K
NOI $42,889 @ 7.0% cap · market cap 5.06%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$667.2K
$583.8K – $778.4K
NOI $46,702 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
853
Businesses Nearby
Explore this area
Business Placement
Demographics for 10703, NY
22,571
Population
7,925
Households
2.8
Avg Household Size
39
Median Age
26%
College-Educated
80%
High-School Grad
1.6 sq mi
ZIP Area
14,107
Density / Sq Mi
$74,940
Median Household Income
$42,972
Median Earnings
$1,702
Median Rent
$477,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Separate metering varies by unit, with baseboard heating and finished interior space.
Where is this residential income property located?
The property is located at 114 Greenvale Avenue Yonkers, NY.
What is the asking price?
The asking price for this property is $847,500.
What are key features of this property?
This property features: Cape Cod‑style residential income property built in 1957; Separate meters vary by unit; Baseboard heating
