Vacant Triplex with
New
For Sale
$980,000
18 Lindsey St, Yonkers, NY 10704
Legal three-family property with varied unit layouts, private laundry, and attached parking structure.
Property Size3,000 SF
Days on Market2
Property Features for 18 Lindsey St
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
2
Property subtype
Investment
Property Condition
Severity
Minor
Evidence
update units
Units
Unit Mix
2 x 3BR, 1 x 1BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$18,000
Amenities
backyard
laundry room
Building Details
Building Size
3,000 SF
Year Built
1927
Units
3
Listing Agency:
RE/MAX Distinguished Homes & Properties
(914) 924-1846
Listed By:
Sally-Anne Healy · License #30HE0812706
(914) 924-1846
Source:
Elliman
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 16 at 6:47AM
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 RE/MAX Distinguished Homes & Properties
Investment Insights
Based on property information with market context.
This legal three-family residence includes two larger apartments on the first and second floors, each arranged with 3 bedrooms, a den, an office, living room, formal dining room, kitchen, and bathroom. The basement contains a one-bedroom apartment along with laundry and utility areas. All units are vacant, and the interiors require updating. Exterior features include a small backyard, an attached two-car garage, and a shared driveway.
The property is in East Yonkers near Metro-North, Bee-Line bus service, Cross County Shopping Center, major parkways, restaurants, and daily conveniences. Its transit access includes a walk score of 81, a bike score of 54, and a transit score of 47.
The property is in East Yonkers near Metro-North, Bee-Line bus service, Cross County Shopping Center, major parkways, restaurants, and daily conveniences. Its transit access includes a walk score of 81, a bike score of 54, and a transit score of 47.
Key Highlights
- Legal three‑family property with all units vacant
- Two upper‑level units each offer 3 bedrooms, a den, and an office
- Basement apartment includes 1 bedroom plus laundry and utility rooms
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
$72,593
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
7.41%
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%
$1,451,860
$1.5M
Cap Rate 7%
$1,037,043
$1.0M
Cap Rate 9%
$806,589
$806.6K
Market Conditions
NOI Build-Up for 3,000 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
$113.4K $37.80/SF
− Vacancy
−$9.7K −$3.23/SF
EGI
$103.7K $34.57/SF
− OpEx
−$31.1K −$10.37/SF
NOI
$72.6K $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%
$1,451,860
Cap Rate 7%
$1,037,043
Cap Rate 9%
$806,589
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$907.4K – $1.21M
NOI $72,593 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$952.4K
$833.3K – $1.11M
NOI $66,667 @ 7.0% cap · market cap 6.80%
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
Location Intelligence
Trade Area within ½ mile
842
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Legal three-family property with varied unit layouts, private laundry, and attached parking structure.
Where is this triplex located?
The property is located at 18 Lindsey St Yonkers, NY.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: Legal three‑family property with all units vacant; Two upper‑level units each offer 3 bedrooms, a den, and an office; Basement apartment includes 1 bedroom plus laundry and utility rooms
