Verplanck Multifamily Investment
For Sale
$995,000
158 6th St, Verplanck, NY 10596
Five-unit multifamily property with vacant parcel in Verplanck, NY.
Property Size3,747 SF
Lot Size0.09 Acres
Days on Market164
Property Features for 158 6th St
General Information
Standard status
Active
Size
3,747 SF
Lot size
0.09 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$14,392
Building Details
Building Size
3,747 SF
Year Built
1900
Units
5
Listing Agency:
SCHUBERT REAL ESTATE SERVICES
(914) 315-4014
Listed By:
Stephen Schubert
(914) 315-4014
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 21 at 7:40AM
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 SCHUBERT REAL ESTATE SERVICES
Investment Insights
Based on property information with market context.
This offering presents the opportunity to acquire 158 6th Street, a five-unit free market multifamily property in Verplanck, NY. The property comprises one three-unit building and one two-unit building, along with an adjacent vacant parcel. Each unit features one bedroom and one bathroom. Tenants cover their electric usage and reimburse the landlord for a portion of the landlord-paid utilities. The landlord is responsible for heat, water, and hot water. Both buildings are of brick construction, with three of the five units having direct access from the outside. A private driveway provides ample parking space. The vacant parcel at 160 6th Street offers outdoor amenity space. Each building has its own separate boiler and oil tank, with one 550-gallon underground storage tank (UST) and one 330-gallon above-ground storage tank (AST), as well as independent septic systems. New energy-efficient windows were installed on the second floor of the rear building in 2025. A high-efficiency boiler was installed in the back building in 2022. The property offers potential for rent roll growth through base rental rate increases upon lease expiration, additional expense reimbursements, and charging for driveway parking. The property is located in the heart of Verplanck, within walking distance of local restaurants and the Hudson River waterfront, and a short 5-minute drive to Route 9, shopping, and public transportation. The Buchanan area is anticipating redevelopment of parcels associated with Indian Point.
Key Highlights
- Five‑unit free market multifamily property with additional vacant parcel included.
- Potential for rent roll upside through base rental rate increases, expense reimbursements, and parking fees.
- Convenient location walkable to amenities and a short drive to major routes and transportation.
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
$64,268
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
6.46%
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%
$1,285,360
$1.3M
Cap Rate 7%
$918,114
$918.1K
Cap Rate 9%
$714,089
$714.1K
Market Conditions
NOI Build-Up for 3,747 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
$123.7K $33.00/SF
− Vacancy
−$6.8K −$1.82/SF
EGI
$116.9K $31.19/SF
− OpEx
−$52.6K −$14.03/SF
NOI
$64.3K $17.15/SF
Area
Westchester County, NY
Vacancy
5.50%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,285,360
Cap Rate 7%
$918,114
Cap Rate 9%
$714,089
Alternative Uses
Best Use
Apartment 5plus
$918.1K
$803.4K – $1.07M
NOI $64,268 @ 7.0% cap · market cap 6.46%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.13M
$990.4K – $1.32M
NOI $79,228 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
111
Businesses Nearby
Explore this area
Business Placement
Demographics for 10596, NY
1,519
Population
450
Households
3.4
Avg Household Size
43
Median Age
42%
College-Educated
95%
High-School Grad
0.6 sq mi
ZIP Area
2,532
Density / Sq Mi
$81,893
Median Household Income
$81,321
Median Earnings
$1,769
Median Rent
$448,900
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?
Apartment building - Five-unit multifamily property with vacant parcel in Verplanck, NY.
Where is this apartment building located?
The property is located at 158 6th St Verplanck, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Five‑unit free market multifamily property with additional vacant parcel included.; Potential for rent roll upside through base rental rate increases, expense reimbursements, and parking fees.; Convenient location walkable to amenities and a short drive to major routes and transportation.
