Updated Victorian Multifamily
For Sale
$775,000
Pending
1206 Main St, Peekskill, NY 10566
Well-maintained four-unit building with recent updates and convenient location.
Property Size2,800 SF
Lot Size0.14 Acres
Days on Market144
Property Features for 1206 Main St
General Information
Standard status
Pending
Size
2,800 SF
Lot size
0.14 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$15,488
Building Details
Building Size
2,800 SF
Year Built
1933
Units
4
Listing Agency:
(914) 879-1576
Listed By:
Cynthia Weil
(914) 879-1576
Source:
Elliman
Added: Mar 26
Changed: Aug 14
Last Checked: Aug 16 at 6:39AM
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 Cynthia Weil
Investment Insights
Based on property information with market context.
This well-maintained four-family apartment building features updates including a new roof installed in 2024 and new siding installed in 2022. The property contains four one-bedroom apartments, each with one bath. One apartment includes a private screened porch that overlooks a landscaped yard. The exterior maintains its Victorian style. The property is located 1.2 miles from the Peekskill train station, near a pharmacy, a donut shop, and a grocery store, as well as downtown shops. The location offers access to bus stops and the Metro-North Station for travel to New York City. Peekskill offers specialty shops, artist studios, restaurants, parks, hiking and biking trails, and a town pool. This property is a turnkey operation.
Key Highlights
- Brand new roof (2024) and new siding (2022).
- Excellent location: Convenient to train station (1.2 miles), bus stop, grocery store, shops, and restaurants.
- Four well‑maintained one‑bedroom apartments.
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
$54,538
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
7.04%
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%
$1,090,760
$1.1M
Cap Rate 7%
$779,114
$779.1K
Cap Rate 9%
$605,978
$606.0K
Market Conditions
NOI Build-Up for 2,800 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
$83.3K $29.76/SF
− Vacancy
−$5.4K −$1.93/SF
EGI
$77.9K $27.83/SF
− OpEx
−$23.4K −$8.35/SF
NOI
$54.5K $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%
$1,090,760
Cap Rate 7%
$779,114
Cap Rate 9%
$605,978
Alternative Uses
Best Use
Multifamily LT 5
$779.1K
$681.7K – $909.0K
NOI $54,538 @ 7.0% cap · market cap 7.04%
Second Best
Apartment 5plus
$686.1K
$600.3K – $800.4K
NOI $48,025 @ 7.0% cap · market cap 6.20%
Theoretical Best
Retail
$845.8K
$740.1K – $986.8K
NOI $59,205 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,341
Businesses Nearby
Explore this area
Business Placement
Demographics for 10566, NY
25,384
Population
11,752
Households
2.2
Avg Household Size
40
Median Age
38%
College-Educated
86%
High-School Grad
4.3 sq mi
ZIP Area
5,903
Density / Sq Mi
$91,042
Median Household Income
$49,844
Median Earnings
$1,895
Median Rent
$376,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained four-unit building with recent updates and convenient location.
Where is this quadplex located?
The property is located at 1206 Main St Peekskill, NY.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Brand new roof (2024) and new siding (2022).; Excellent location: Convenient to train station (1.2 miles), bus stop, grocery store, shops, and restaurants.; Four well‑maintained one‑bedroom apartments.
