Renovated Two-Family
New
For Sale
$699,999
15 Stewart Place, Yonkers, NY 10701
Vacant two-unit property with separate entrances, updated systems, and additional basement space.
Property Size1,800 SF
Price / SF$388.89
Days on Market4
Property Features for 15 Stewart Place
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,434
Building Details
Building Size
1,800 SF
Year Built
1900
Buildings
1
Listing Agency:
Voro LLC
Listed By:
Shahroz A. Syed
(646) 730-3062
Source:
Shawmetro
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 13 at 2:44PM
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 Voro LLC
Investment Insights
Based on property information with market context.
This renovated duplex contains two residential units with a combined 1,800 square feet, six bedrooms, and three full bathrooms. Each unit has a separate entrance, while the full basement adds usable space and the backyard provides an outdoor area. Recent improvements include updated plumbing and electrical systems, a newer roof, and newer siding. The property was built in 1900 and is being delivered vacant, allowing the next owner to occupy, lease, or configure both units without existing tenant occupancy.
The property is near Ashburton Avenue, with access to shopping, parks, schools, public transportation, and major roadways. Its two-unit layout and vacant delivery support both owner-occupant and investment-oriented use, subject to applicable requirements.
The property is near Ashburton Avenue, with access to shopping, parks, schools, public transportation, and major roadways. Its two-unit layout and vacant delivery support both owner-occupant and investment-oriented use, subject to applicable requirements.
Key Highlights
- Two residential units with 1,800 square feet combined
- Six bedrooms and three full bathrooms
- Delivered vacant with separate entrances 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
$43,556
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
6.22%
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%
$871,120
$871.1K
Cap Rate 7%
$622,229
$622.2K
Cap Rate 9%
$483,956
$484.0K
Market Conditions
NOI Build-Up for 1,800 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
$68.0K $37.80/SF
− Vacancy
−$5.8K −$3.23/SF
EGI
$62.2K $34.57/SF
− OpEx
−$18.7K −$10.37/SF
NOI
$43.6K $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%
$871,120
Cap Rate 7%
$622,229
Cap Rate 9%
$483,956
Alternative Uses
Best Use
Multifamily LT 5
$622.2K
$544.5K – $725.9K
NOI $43,556 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$571.4K
$500.0K – $666.7K
NOI $40,000 @ 7.0% cap · market cap 5.71%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,507
Businesses Nearby
Explore this area
Business Placement
Demographics for 10701, NY
68,704
Population
28,252
Households
2.4
Avg Household Size
36
Median Age
30%
College-Educated
79%
High-School Grad
4.4 sq mi
ZIP Area
15,615
Density / Sq Mi
$63,310
Median Household Income
$42,702
Median Earnings
$1,694
Median Rent
$412,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Vacant two-unit property with separate entrances, updated systems, and additional basement space.
Where is this duplex located?
The property is located at 15 Stewart Place Yonkers, NY.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: Two residential units with 1,800 square feet combined; Six bedrooms and three full bathrooms; Delivered vacant with separate entrances for each unit
