Three-Unit Apartment
New
For Sale
$595,000
13 Fostoria St, Highland Falls, NY 10928
The layout places one apartment on the ground level and two more on the upper floor, with shared laundry and storage areas below.
Property Size2,258 SF
Days on Market2
Property Features for 13 Fostoria St
General Information
Standard status
Active
Size
2,258 SF
Property subtype
Investment
Occupancy
100%
Units
Unit Mix
3 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,292
Amenities
washer/dryer facilities
storage
Building Details
Building Size
2,258 SF
Year Built
1910
Buildings
1
Units
3
Tenancy
Multi
Listed By:
Deborah Nunziato
(845) 674-7552
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 3:20PM
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 Deborah Nunziato
Investment Insights
Based on property information with market context.
This 1910 triplex contains three one-bedroom, one-bath apartments. One unit occupies the full first floor, while the other two are on the second floor; one of those units has walk-up attic access. Basement space includes washer and dryer facilities and areas available for unit-specific storage. Recent work includes a new oil tank, updated plumbing, two electric water heaters serving apartments 1 and 2, refinished hardwood floors in the first-floor apartment, and replaced porch steps. All three apartments are occupied under month-to-month tenancies. The owner pays for oil heat, water, sewer, and trash; tenants cover electricity, hot water, internet, and phone service.
The property is at 13 Fostoria St in Highland Falls, less than one mile from West Point’s gates. Roe Park is within walking distance, with sports fields, a playground, pavilion, seasonal pool, and community events. Bear Mountain State Park is a short drive away, and train stations with service to New York City are within an approximately 18-minute drive. The home is being sold as is.
The property is at 13 Fostoria St in Highland Falls, less than one mile from West Point’s gates. Roe Park is within walking distance, with sports fields, a playground, pavilion, seasonal pool, and community events. Bear Mountain State Park is a short drive away, and train stations with service to New York City are within an approximately 18-minute drive. The home is being sold as is.
Key Highlights
- Three one‑bedroom, one‑bath apartments
- One apartment spans the first floor; two units are on the second floor
- Basement has washer and dryer facilities plus potential storage areas for each unit
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
$44,880
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
7.54%
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%
$897,600
$897.6K
Cap Rate 7%
$641,143
$641.1K
Cap Rate 9%
$498,667
$498.7K
Market Conditions
NOI Build-Up for 2,258 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
$66.4K $29.40/SF
− Vacancy
−$2.3K −$1.01/SF
EGI
$64.1K $28.39/SF
− OpEx
−$19.2K −$8.52/SF
NOI
$44.9K $19.88/SF
Area
Orange County, NY
Vacancy
3.42%
Lease Rate
$29.40 /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%
$897,600
Cap Rate 7%
$641,143
Cap Rate 9%
$498,667
Alternative Uses
Best Use
Multifamily LT 5
$641.1K
$561.0K – $748.0K
NOI $44,880 @ 7.0% cap · market cap 7.54%
Second Best
Apartment 5plus
$603.4K
$528.0K – $704.0K
NOI $42,237 @ 7.0% cap · market cap 7.10%
Theoretical Best
Office A
$764.8K
$669.2K – $892.2K
NOI $53,533 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
Explore this area
Business Placement
Demographics for 10928, NY
4,637
Population
2,442
Households
1.9
Avg Household Size
40
Median Age
33%
College-Educated
88%
High-School Grad
8.4 sq mi
ZIP Area
552
Density / Sq Mi
$96,106
Median Household Income
$53,338
Median Earnings
$1,717
Median Rent
$307,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 - The layout places one apartment on the ground level and two more on the upper floor, with shared laundry and storage areas below.
Where is this triplex located?
The property is located at 13 Fostoria St Highland Falls, NY.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Three one‑bedroom, one‑bath apartments; One apartment spans the first floor; two units are on the second floor; Basement has washer and dryer facilities plus potential storage areas for each unit
