Spacious Colonial Two-Family
For Sale
$1,359,000
Pending
39 Neptune Ave, New Rochelle, NY 10805
Grand 4,842 sq. ft. Colonial in New Rochelle.
Property Size4,842 SF
Lot Size0.24 Acres
Days on Market151
Property Features for 39 Neptune Ave
General Information
Standard status
Pending
Size
4,842 SF
Lot size
0.24 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$24,635
Building Details
Building Size
4,842 SF
Year Built
1914
Units
2
Listing Agency:
Douglas Elliman Real Estate
(914) 393-6990
Listed By:
Glorianne Mattesi · License #30MA0635194
(914) 393-6990
Source:
Elliman
Added: Mar 24
Changed: Aug 17
Last Checked: Aug 20 at 7:19AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This grand 4,842 sq. ft. Colonial is located on a tree-lined street in New Rochelle. This two-family residence features architectural charm, including four fireplaces and beamed ceilings, across three floors. The first floor, spanning 2,182 sq. ft., includes an entry hall leading to formal living and dining rooms, each with a fireplace, a covered porch, a dine-in kitchen, a primary bedroom with a stone fireplace, two additional bedrooms, a hall bath, and a laundry/mudroom. The second and third floors, totaling 2,660 sq. ft., offer a dine-in kitchen, a formal dining room with a fireplace, a living room, three bedrooms, a home office, and two full baths. The top floor provides two additional bedrooms, a bath, and a bonus office space. The property is located minutes from Glen Island Beach & Park, Long Island Sound beaches, marinas, waterfront parks, local shops, and Metro-North, offering multi-generational living potential.
Key Highlights
- Expansive 4,842 sq. ft. two‑family Colonial residence offering multi‑generational living potential.
- Prime location minutes from Glen Island Beach & Park, Long Island Sound beaches, marinas, waterfront parks, local shops, and Metro‑North.
- Architectural charm with four fireplaces and beautiful beamed ceilings.
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
$94,312
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
6.94%
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%
$1,886,240
$1.9M
Cap Rate 7%
$1,347,314
$1.3M
Cap Rate 9%
$1,047,911
$1.0M
Market Conditions
NOI Build-Up for 4,842 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
$144.1K $29.76/SF
− Vacancy
−$9.4K −$1.93/SF
EGI
$134.7K $27.83/SF
− OpEx
−$40.4K −$8.35/SF
NOI
$94.3K $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%
$1,886,240
Cap Rate 7%
$1,347,314
Cap Rate 9%
$1,047,911
Alternative Uses
Best Use
Multifamily LT 5
$1.35M
$1.18M – $1.57M
NOI $94,312 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$1.19M
$1.04M – $1.38M
NOI $83,049 @ 7.0% cap · market cap 6.11%
Theoretical Best
Retail
$1.46M
$1.28M – $1.71M
NOI $102,382 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
905
Businesses Nearby
Explore this area
Business Placement
Demographics for 10805, NY
18,479
Population
8,731
Households
2.1
Avg Household Size
44
Median Age
35%
College-Educated
82%
High-School Grad
1.7 sq mi
ZIP Area
10,870
Density / Sq Mi
$89,964
Median Household Income
$53,513
Median Earnings
$2,018
Median Rent
$338,100
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 - Grand 4,842 sq. ft. Colonial in New Rochelle.
Where is this duplex located?
The property is located at 39 Neptune Ave New Rochelle, NY.
What is the asking price?
The asking price for this property is $1,359,000.
What are key features of this property?
This property features: Expansive 4,842 sq. ft. two‑family Colonial residence offering multi‑generational living potential.; Prime location minutes from Glen Island Beach & Park, Long Island Sound beaches, marinas, waterfront parks, local shops, and Metro‑North.; Architectural charm with **four fireplaces and beautiful beamed ceilings.**
