6-Unit Apartment
New
For Sale
$1,099,222
17 19 Edward St, Ossining, NY 10562
Legal multifamily property with leases secured through September 2027.
Property Size5,196 SF
Days on Market4
Property Features for 17 19 Edward St
General Information
Standard status
Active
Size
5,196 SF
Property subtype
Commercial
Occupancy
100%
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 2BR, 2 x 3BR
Multifamily Units
6
Additional Details
Cap Rate
7%
Taxes and HOA fees
Annual Taxes
$24,362
Building Details
Building Size
5,196 SF
Year Built
1920
Buildings
1
Units
6
Listing Agency:
Mark Seiden Real Estate Team
(914) 762-2200
Listed By:
Mark J. Seiden · License #10311200147
(914) 762-2200
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 5:22AM
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 Mark Seiden Real Estate Team
Investment Insights
Based on property information with market context.
Built in 1920, this legal multifamily property contains six apartments: four two-bedroom residences and two three-bedroom residences. Every unit is leased through September 2027, and the property carries a 7% cap rate. Individual utility metering includes seven electric meters and six gas meters, while each apartment has its own water heater. Tenants pay their gas and electric costs; water is paid by the landlord.
The building is located at 17 19 Edward St in Ossining, directly opposite Park School. Shops, restaurants, the train station, and additional schools are within walking distance. Street parking is available, and the property has a Walk Score of 73, a Bike Score of 42, and a Transit Score of 42.
The building is located at 17 19 Edward St in Ossining, directly opposite Park School. Shops, restaurants, the train station, and additional schools are within walking distance. Street parking is available, and the property has a Walk Score of 73, a Bike Score of 42, and a Transit Score of 42.
Key Highlights
- Six apartments: four two‑bedroom units and two three‑bedroom units
- All units leased through September 2027
- 7% cap rate
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
$89,120
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
8.11%
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%
$1,782,400
$1.8M
Cap Rate 7%
$1,273,143
$1.3M
Cap Rate 9%
$990,222
$990.2K
Market Conditions
NOI Build-Up for 5,196 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
$171.5K $33.00/SF
− Vacancy
−$9.4K −$1.82/SF
EGI
$162.0K $31.19/SF
− OpEx
−$72.9K −$14.03/SF
NOI
$89.1K $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%
$1,782,400
Cap Rate 7%
$1,273,143
Cap Rate 9%
$990,222
Alternative Uses
Best Use
Apartment 5plus
$1.27M
$1.11M – $1.49M
NOI $89,120 @ 7.0% cap · market cap 8.11%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.57M
$1.37M – $1.83M
NOI $109,867 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
795
Businesses Nearby
Explore this area
Business Placement
Demographics for 10562, NY
34,252
Population
12,745
Households
2.7
Avg Household Size
40
Median Age
46%
College-Educated
87%
High-School Grad
13.5 sq mi
ZIP Area
2,537
Density / Sq Mi
$113,069
Median Household Income
$53,499
Median Earnings
$2,118
Median Rent
$486,700
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 - Legal multifamily property with leases secured through September 2027.
Where is this apartment building located?
The property is located at 17 19 Edward St Ossining, NY.
What is the asking price?
The asking price for this property is $1,099,222.
What are key features of this property?
This property features: Six apartments: four two‑bedroom units and two three‑bedroom units; All units leased through September 2027; 7% cap rate
