Fully Occupied Multifamily
For Sale
$539,000
15 Brown St, Livingston Manor, NY 12758
Turnkey, fully occupied multifamily property with recently renovated, updated units and steady rental income.
Property Size3,708 SF
Days on Market116
Property Features for 15 Brown St
General Information
Standard status
Active
Size
3,708 SF
Property subtype
Investment
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$5,155
Building Details
Building Size
3,708 SF
Year Built
1950
Units
2
Tenancy
Multi
Listing Agency:
(845) 274-3911
Listed By:
Shlome Knobloch
(845) 274-3911
Source:
Elliman
Added: Apr 27
Changed: Aug 13
Last Checked: Aug 20 at 9:46AM
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 Shlome Knobloch
Investment Insights
Based on property information with market context.
This fully occupied multifamily property is presented as a turnkey investment with recently renovated and updated units. The building is described as having solid tenancy with zero vacancy, supported by reliable rental income.
Broker remarks indicate strong income performance with major improvements already completed, positioning the asset for stable returns from day one. The property is also offered as an income-producing option for an investor, with the possibility that a future end user could occupy one of the units while continuing to receive tenant-generated income.
Additional details include walkability and bikeability scores of 41 and 13, respectively, suggesting a more car-dependent area based on the provided information.
Broker remarks indicate strong income performance with major improvements already completed, positioning the asset for stable returns from day one. The property is also offered as an income-producing option for an investor, with the possibility that a future end user could occupy one of the units while continuing to receive tenant-generated income.
Additional details include walkability and bikeability scores of 41 and 13, respectively, suggesting a more car-dependent area based on the provided information.
Key Highlights
- Fully occupied multi‑family property with zero vacancy and stable rental income
- Recently renovated units with updated interiors to support current income
- Year built 1950
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
$28,307
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
5.25%
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%
$566,140
$566.1K
Cap Rate 7%
$404,386
$404.4K
Cap Rate 9%
$314,522
$314.5K
Market Conditions
NOI Build-Up for 3,708 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
$56.1K $15.12/SF
− Vacancy
−$4.6K −$1.24/SF
EGI
$51.5K $13.88/SF
− OpEx
−$23.2K −$6.25/SF
NOI
$28.3K $7.63/SF
Area
Sullivan County, NY
Vacancy
8.20%
Lease Rate
$15.12 /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%
$566,140
Cap Rate 7%
$404,386
Cap Rate 9%
$314,522
Alternative Uses
Best Use
Apartment 5plus
$404.4K
$353.8K – $471.8K
NOI $28,307 @ 7.0% cap · market cap 5.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$889.9K – $1.19M
NOI $71,194 @ 7.0% cap · market cap 13.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
158
Businesses Nearby
Explore this area
Business Placement
Demographics for 12758, NY
4,033
Population
3,114
Households
1.3
Avg Household Size
46
Median Age
25%
College-Educated
91%
High-School Grad
153.6 sq mi
ZIP Area
26
Density / Sq Mi
$50,577
Median Household Income
$41,036
Median Earnings
$938
Median Rent
$171,000
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?
Multifamily property - Turnkey, fully occupied multifamily property with recently renovated, updated units and steady rental income.
Where is this multifamily property located?
The property is located at 15 Brown St Livingston Manor, NY.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: Fully occupied multi‑family property with zero vacancy and stable rental income; Recently renovated units with updated interiors to support current income; Year built 1950
