Three-Family Income Property with
For Sale
$899,000
Pending
174 Fairview Ave, Portchester, NY 10573
Turnkey three-family home with terraces, fireplaces, and garage parking, offering flexible living arrangements and rental income.
Property Size4,152 SF
Days on Market99
Property Features for 174 Fairview Ave
General Information
Standard status
Pending
Size
4,152 SF
Property subtype
Investment
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$23,804
Building Details
Building Size
4,152 SF
Year Built
1900
Units
3
Tenancy
Multi
Listed By:
Christine Hazelton
(914) 309-9685
Source:
Elliman
Added: Jun 4
Changed: Sep 4
Last Checked: Sep 10 at 10:33AM
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 Christine Hazelton
Investment Insights
Based on property information with market context.
Built circa 1900, this three-family residence has been family-owned and maintained for generations and is offered as a turnkey income-producing property. The first-floor apartment features a living room with fireplace, formal dining room, oversized eat-in kitchen, an office area, two large bedrooms, and a hall bath, with direct access to the flat backyard and patio. The second-floor unit offers a similar spacious layout and includes a private terrace. The third-floor apartment is a one-bedroom home with a large living room, dining room, cook’s kitchen, hall bath, a spacious bedroom, and its own private terrace. An unfinished lower level provides abundant storage, laundry facilities, mechanicals, and direct access to the garage.
The property is located within walking distance of Port Chester schools and Rye Brook shops. WalkScore is 50 (Car-Dependent) and transitScore is 33 (Some Transit). Somewhat Bikeable bikeScore is 34.
For tenants or owner-occupants, the unit mix supports multiple household configurations, including a two-bedroom first-floor arrangement and one-bedroom top-floor living with private outdoor space. Buyers seeking a manageable, maintained multi-family setup may also appreciate the convenience of garage parking and a private driveway, along with the practical utility and storage offered by the unfinished lower level.
The property is located within walking distance of Port Chester schools and Rye Brook shops. WalkScore is 50 (Car-Dependent) and transitScore is 33 (Some Transit). Somewhat Bikeable bikeScore is 34.
For tenants or owner-occupants, the unit mix supports multiple household configurations, including a two-bedroom first-floor arrangement and one-bedroom top-floor living with private outdoor space. Buyers seeking a manageable, maintained multi-family setup may also appreciate the convenience of garage parking and a private driveway, along with the practical utility and storage offered by the unfinished lower level.
Key Highlights
- Circa‑1900 income‑producing three‑family home, offered for the first time in over 30 years
- First‑floor unit includes living room with fireplace, formal dining room, oversized eat‑in kitchen, office area, 2 bedrooms, hall bath, and direct access to flat backyard/patio
- Second‑floor apartment features a similar spacious layout and a private terrace
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
$80,872
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
9.00%
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%
$1,617,440
$1.6M
Cap Rate 7%
$1,155,314
$1.2M
Cap Rate 9%
$898,578
$898.6K
Market Conditions
NOI Build-Up for 4,152 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
$123.6K $29.76/SF
− Vacancy
−$8.0K −$1.93/SF
EGI
$115.5K $27.83/SF
− OpEx
−$34.7K −$8.35/SF
NOI
$80.9K $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%
$1,617,440
Cap Rate 7%
$1,155,314
Cap Rate 9%
$898,578
Alternative Uses
Best Use
Multifamily LT 5
$1.16M
$1.01M – $1.35M
NOI $80,872 @ 7.0% cap · market cap 9.00%
Second Best
Apartment 5plus
$1.02M
$890.2K – $1.19M
NOI $71,214 @ 7.0% cap · market cap 7.92%
Theoretical Best
Retail
$1.25M
$1.10M – $1.46M
NOI $87,792 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
969
Businesses Nearby
Explore this area
Business Placement
Demographics for 10573, NY
41,758
Population
14,592
Households
2.9
Avg Household Size
39
Median Age
44%
College-Educated
83%
High-School Grad
5.5 sq mi
ZIP Area
7,592
Density / Sq Mi
$110,612
Median Household Income
$48,263
Median Earnings
$1,940
Median Rent
$649,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Turnkey three-family home with terraces, fireplaces, and garage parking, offering flexible living arrangements and rental income.
Where is this triplex located?
The property is located at 174 Fairview Ave Portchester, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Circa‑1900 income‑producing three‑family home, offered for the first time in over 30 years; First‑floor unit includes living room with fireplace, formal dining room, oversized eat‑in kitchen, office area, 2 bedrooms, hall bath, and direct access to flat backyard/patio; Second‑floor apartment features a similar spacious layout and a private terrace
