Duplex with Level
For Sale
$989,000
Pending
114 Washington Street, Portchester, NY 10573
Two-unit residential property near shopping, dining, entertainment, schools, rail service, the beach, and major highways.
Property Size2,484 SF
Days on Market488
Property Features for 114 Washington Street
General Information
Standard status
Pending
Size
2,484 SF
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$18,431
Building Details
Year Built
1988
Listing Agency:
Berkshire Hathaway NE Prop.
(203) 561-6602
Listed By:
Roberta Jurik · License #RES.0755206
(203) 561-6602
Source:
Exitrealty
Added: May 1, 2025
Changed: Aug 29
Last Checked: Aug 30 at 2:00PM
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 Berkshire Hathaway NE Prop.
Investment Insights
Based on property information with market context.
Built in 1988, this duplex contains 2,484 square feet and includes a level yard. The two-unit configuration supports separate residential occupancy within one property, with flexibility for an owner occupant or rental use as described in the listing details.
The property is located at 114 Washington Street in Port Chester, New York. Shops, restaurants, movie theaters, schools, train service, the beach, and major highways are identified nearby, providing access to everyday services, recreation, and regional commuting routes.
The property is located at 114 Washington Street in Port Chester, New York. Shops, restaurants, movie theaters, schools, train service, the beach, and major highways are identified nearby, providing access to everyday services, recreation, and regional commuting routes.
Key Highlights
- Duplex configuration with 2,484 square feet
- Built in 1988
- Level yard
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
$48,383
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
4.89%
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%
$967,660
$967.7K
Cap Rate 7%
$691,186
$691.2K
Cap Rate 9%
$537,589
$537.6K
Market Conditions
NOI Build-Up for 2,484 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
$73.9K $29.76/SF
− Vacancy
−$4.8K −$1.93/SF
EGI
$69.1K $27.83/SF
− OpEx
−$20.7K −$8.35/SF
NOI
$48.4K $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%
$967,660
Cap Rate 7%
$691,186
Cap Rate 9%
$537,589
Alternative Uses
Best Use
Multifamily LT 5
$691.2K
$604.8K – $806.4K
NOI $48,383 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$608.6K
$532.6K – $710.1K
NOI $42,605 @ 7.0% cap · market cap 4.31%
Theoretical Best
Retail
$750.3K
$656.5K – $875.4K
NOI $52,523 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,334
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property near shopping, dining, entertainment, schools, rail service, the beach, and major highways.
Where is this duplex located?
The property is located at 114 Washington Street Portchester, NY.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: Duplex configuration with 2,484 square feet; Built in 1988; Level yard
