Colonial Multifamily
New
For Sale
$1,275,000
17 aka 13 Smart Avenue, Yonkers, NY 10704
Colonial-style residential income property with an attached garage, finished lower-level space, and natural gas service.
Property Size3,910 SF
Days on Market6
Property Features for 17 aka 13 Smart Avenue
General Information
Standard status
Active
Size
3,910 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$24,105
Amenities
Wall/Window Unit(s)
Natural Gas
Finished, Full
Eat-in Kitchen, Open Floorplan
Living Room
Attached, Garage
Colonial
Building Details
Building Size
3,910 SF
Year Built
1986
Listing Agency:
HOULIHAN LAWRENCE INC.
(914) 843-8535
Listed By:
Thomas C. Hennessy
(914) 843-8535
Source:
Evrealestate
Added: Aug 7
Changed: Aug 10
Last Checked: Aug 12 at 5:25AM
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 multifamily property at 17 aka 13 Smart Avenue is a Colonial-style residence built in 1986. Interior features include wall/window units, natural gas service, a finished full lower level, an eat-in kitchen with an open floor plan, and a living room. An attached garage is included.
The property is in Yonkers, Westchester County, with access from I-87 South via Exit #4 toward Cross County Parkway and Mile Square Road. The approach continues along Central Park Avenue and Midland Avenue before reaching Smart Avenue.
The property is in Yonkers, Westchester County, with access from I-87 South via Exit #4 toward Cross County Parkway and Mile Square Road. The approach continues along Central Park Avenue and Midland Avenue before reaching Smart Avenue.
Key Highlights
- Colonial‑style multifamily property built in 1986
- Attached garage
- Finished full lower level
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
$86,889
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
6.81%
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%
$1,737,780
$1.7M
Cap Rate 7%
$1,241,271
$1.2M
Cap Rate 9%
$965,433
$965.4K
Market Conditions
NOI Build-Up for 3,910 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
$173.6K $44.40/SF
− Vacancy
−$15.6K −$4.00/SF
EGI
$158.0K $40.40/SF
− OpEx
−$71.1K −$18.18/SF
NOI
$86.9K $22.22/SF
Area
Yonkers, NY
Vacancy
9.00%
Lease Rate
$44.40 /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%
$1,737,780
Cap Rate 7%
$1,241,271
Cap Rate 9%
$965,433
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $86,889 @ 7.0% cap · market cap 6.81%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.35M
$1.18M – $1.58M
NOI $94,613 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
870
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?
Multifamily property - Colonial-style residential income property with an attached garage, finished lower-level space, and natural gas service.
Where is this multifamily property located?
The property is located at 17 aka 13 Smart Avenue Yonkers, NY.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Colonial‑style multifamily property built in 1986; Attached garage; Finished full lower level
