Legal Three-Family
For Sale
$899,000
Pending
15 Halley St, Yonkers, NY 10704
Well-maintained legal three-family residence with three separate units, private driveway, and an oversized garage.
Property Size2,230 SF
Days on Market122
Property Features for 15 Halley St
General Information
Standard status
Pending
Size
2,230 SF
Property subtype
Investment
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$16,925
Building Details
Building Size
2,230 SF
Year Built
1956
Units
3
Listing Agency:
Houlihan Lawrence Inc.
Listed By:
Tony Murphy
(914) 471-0992
Source:
Elliman
Added: May 9
Changed: Aug 26
Last Checked: Sep 6 at 8:09AM
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 Houlihan Lawrence Inc.
Investment Insights
Based on property information with market context.
This exceptionally maintained legal three-family home is presented in move-in condition and updated throughout. The first level features a one-bedroom apartment with a separate entrance, an open-concept kitchen, and an updated bathroom. The second level offers a two-bedroom unit with an eat-in kitchen featuring granite countertops and stainless steel appliances, along with a refreshed bathroom, refinished hardwood floors, and new fixtures. The top floor provides an additional large one-bedroom with a new bathroom and a contemporary eat-in kitchen.
Outdoor space includes a professionally landscaped rear yard and a deck. The property also includes an oversized garage and a private driveway. WalkScore is listed as 78 (Very Walkable) and transitScore as 63 (Good Transit), with the home described as being moments from Metro North for access to New York City.
All three units are arranged as individual apartments within a legal three-family configuration, making the property suitable for an owner-occupant or as a turn-key rental asset.
Outdoor space includes a professionally landscaped rear yard and a deck. The property also includes an oversized garage and a private driveway. WalkScore is listed as 78 (Very Walkable) and transitScore as 63 (Good Transit), with the home described as being moments from Metro North for access to New York City.
All three units are arranged as individual apartments within a legal three-family configuration, making the property suitable for an owner-occupant or as a turn-key rental asset.
Key Highlights
- Legal 3‑family home built in 1956 with three separate units
- First level has a 1‑bedroom apartment with separate entrance, updated bathroom, and open‑concept kitchen
- Second level features a bright 2‑bedroom unit with modern eat‑in kitchen with granite countertops and stainless steel appliances
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
$53,961
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
6.00%
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%
$1,079,220
$1.1M
Cap Rate 7%
$770,871
$770.9K
Cap Rate 9%
$599,567
$599.6K
Market Conditions
NOI Build-Up for 2,230 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
$84.3K $37.80/SF
− Vacancy
−$7.2K −$3.23/SF
EGI
$77.1K $34.57/SF
− OpEx
−$23.1K −$10.37/SF
NOI
$54.0K $24.20/SF
Area
Yonkers, NY
Vacancy
8.55%
Lease Rate
$37.80 /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%
$1,079,220
Cap Rate 7%
$770,871
Cap Rate 9%
$599,567
Alternative Uses
Best Use
Multifamily LT 5
$770.9K
$674.5K – $899.4K
NOI $53,961 @ 7.0% cap · market cap 6.00%
Second Best
Apartment 5plus
$707.9K
$619.5K – $825.9K
NOI $49,556 @ 7.0% cap · market cap 5.51%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,942
Businesses Nearby
Explore this area
Business Placement
Demographics for 10704, NY
32,426
Population
12,576
Households
2.6
Avg Household Size
42
Median Age
37%
College-Educated
88%
High-School Grad
2.7 sq mi
ZIP Area
12,010
Density / Sq Mi
$110,097
Median Household Income
$57,134
Median Earnings
$1,898
Median Rent
$508,100
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?
Triplex - Well-maintained legal three-family residence with three separate units, private driveway, and an oversized garage.
Where is this triplex located?
The property is located at 15 Halley St Yonkers, 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: Legal 3‑family home built in 1956 with three separate units; First level has a 1‑bedroom apartment with separate entrance, updated bathroom, and open‑concept kitchen; Second level features a bright 2‑bedroom unit with modern eat‑in kitchen with granite countertops and stainless steel appliances
