Duplex with Two-Car
New
For Sale
$949,000
926 Lester Ave, Mamaroneck, NY 10543
Legal two-family home with separate unit access, a full basement, outdoor space, and a built-in two-car garage.
Property Size2,910 SF
Price / SF$327.24
Days on Market2
Property Features for 926 Lester Ave
General Information
Standard status
Active
Size
2,910 SF
Total Parking Spaces
2
Property subtype
Commercial
Net Operating Income
$46,800
Financials
Asking Price
$975,000
Cap Rate
4.8%
Gross Income
$69,600
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$17,185
Amenities
fireplace
in-unit laundry
enclosed porch
deck
yard
full basement
Building Details
Building Size
2,910 SF
Year Built
1960
Buildings
1
Units
2
Listing Agency:
(914) 500-3830
Listed By:
Lindsay Rothman
(914) 500-3830
Source:
Elliman
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 14 at 3:58AM
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 Lindsay Rothman
Investment Insights
Based on property information with market context.
This legal two-family residence provides approximately 2,900 square feet of living space, with three bedrooms in each unit. The first-floor residence includes 1.5 baths, a living room with fireplace, an eat-in kitchen, in-unit laundry, an enclosed porch, and access to a deck and yard. The upper unit has one bath, a private side entrance, and a spacious living area. A full basement and built-in 2-car garage add practical storage and utility. An additional approximately 296 square feet may be finished for expanded use.
Positioned on a quiet dead-end street at 926 Lester Ave, the property is within walking distance of the Metro-North train station, downtown restaurants and shopping, and Harbor Island Park & Beach. I-95 is also quickly accessible. Walk Score is 80, Bike Score is 63, and Transit Score is 48. The home was built in 1960 and has long-term tenants in place.
Positioned on a quiet dead-end street at 926 Lester Ave, the property is within walking distance of the Metro-North train station, downtown restaurants and shopping, and Harbor Island Park & Beach. I-95 is also quickly accessible. Walk Score is 80, Bike Score is 63, and Transit Score is 48. The home was built in 1960 and has long-term tenants in place.
Key Highlights
- Legal 2‑family home with approximately 2,900 square feet of living space
- Two units, each with three bedrooms
- First‑floor unit includes 1.5 baths; second‑floor unit includes 1 bath
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
$56,486
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
5.95%
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%
$1,129,720
$1.1M
Cap Rate 7%
$806,943
$806.9K
Cap Rate 9%
$627,622
$627.6K
Market Conditions
NOI Build-Up for 2,900 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
$86.3K $29.76/SF
− Vacancy
−$5.6K −$1.93/SF
EGI
$80.7K $27.83/SF
− OpEx
−$24.2K −$8.35/SF
NOI
$56.5K $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%
$1,129,720
Cap Rate 7%
$806,943
Cap Rate 9%
$627,622
Alternative Uses
Best Use
Multifamily LT 5
$806.9K
$706.1K – $941.4K
NOI $56,486 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$710.6K
$621.8K – $829.0K
NOI $49,740 @ 7.0% cap · market cap 5.24%
Theoretical Best
Retail
$876.0K
$766.5K – $1.02M
NOI $61,319 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
835
Businesses Nearby
Explore this area
Business Placement
Demographics for 10543, NY
21,296
Population
8,141
Households
2.6
Avg Household Size
41
Median Age
57%
College-Educated
89%
High-School Grad
4.3 sq mi
ZIP Area
4,953
Density / Sq Mi
$128,418
Median Household Income
$69,176
Median Earnings
$2,030
Median Rent
$710,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family home with separate unit access, a full basement, outdoor space, and a built-in two-car garage.
Where is this duplex located?
The property is located at 926 Lester Ave Mamaroneck, NY.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Legal 2‑family home with approximately 2,900 square feet of living space; Two units, each with three bedrooms; First‑floor unit includes 1.5 baths; second‑floor unit includes 1 bath
