Four-Unit Estate House For
For Sale
$950,000
302 S 5th Ave, Mount Vernon, NY 10550
Four-unit estate house with detached garage and full basement.
Property Size3,500 SF
Days on Market121
Property Features for 302 S 5th Ave
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$18,354
Building Details
Building Size
3,500 SF
Year Built
1916
Units
4
Listing Agency:
Charles Rutenberg Realty, Inc.
(203) 583-9363
Listed By:
Jean O. Christopher
(203) 583-9363
Source:
Elliman
Added: Apr 24
Changed: Aug 21
Last Checked: Aug 22 at 10:01AM
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 Charles Rutenberg Realty, Inc.
Investment Insights
Based on property information with market context.
This estate house for sale contains four apartments, as indicated by the property's certificate of occupancy. The first floor features a two-bedroom apartment with a living room, dining area, a small additional room, bathroom, and kitchen. The second floor includes a two-bedroom apartment and a one-bedroom apartment. The third floor contains a two-bedroom apartment. The property includes a detached garage, a backyard, and a front porch. A large, full basement is accessible from the back interior hallway. The property is equipped with ring cameras throughout, including in the hallways, backyard, front of the house, and basement, with both listening and visual capabilities. The property is being sold as is and is currently in probate. The bike score is 53, indicating it is bikeable. The walk score is 74, indicating it is very walkable. The transit score is 66, indicating good transit.
Key Highlights
- Four apartments within the property, as per the certificate of occupancy.
- Detached garage and nice backyard.
- Large full basement with separate entrance.
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
$60,031
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
6.32%
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%
$1,200,620
$1.2M
Cap Rate 7%
$857,586
$857.6K
Cap Rate 9%
$667,011
$667.0K
Market Conditions
NOI Build-Up for 3,500 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
$115.5K $33.00/SF
− Vacancy
−$6.4K −$1.82/SF
EGI
$109.1K $31.19/SF
− OpEx
−$49.1K −$14.03/SF
NOI
$60.0K $17.15/SF
Area
Westchester County, NY
Vacancy
5.50%
Lease Rate
$33.00 /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%
$1,200,620
Cap Rate 7%
$857,586
Cap Rate 9%
$667,011
Alternative Uses
Best Use
Apartment 5plus
$857.6K
$750.4K – $1.00M
NOI $60,031 @ 7.0% cap · market cap 6.32%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.06M
$925.1K – $1.23M
NOI $74,006 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,885
Businesses Nearby
Explore this area
Business Placement
Demographics for 10550, NY
41,137
Population
16,865
Households
2.4
Avg Household Size
38
Median Age
23%
College-Educated
82%
High-School Grad
2.0 sq mi
ZIP Area
20,569
Density / Sq Mi
$56,903
Median Household Income
$43,733
Median Earnings
$1,451
Median Rent
$482,600
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?
Apartment building - Four-unit estate house with detached garage and full basement.
Where is this apartment building located?
The property is located at 302 S 5th Ave Mount Vernon, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Four apartments within the property, as per the certificate of occupancy.; Detached garage and nice backyard.; Large full basement with separate entrance.
