Lake-View Duplex with
For Sale
$684,000
18 Sylvan Road, Lake Peekskill, NY 10537
Legal two-family layout includes a lower-level apartment with private entrances.
Property Size2,502 SF
Days on Market40
Property Features for 18 Sylvan Road
General Information
Standard status
Active
Size
2,502 SF
Total Parking Spaces
6
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$13,173
Amenities
lake rights
Building Details
Building Size
2,502 SF
Year Built
1945
Buildings
1
Units
2
Listing Agency:
Coldwell Banker Realty
(914) 382-1917
Listed By:
Sherri Malone
(914) 382-1917
Source:
Callexitfirst
Added: Jul 22
Changed: Aug 28
Last Checked: Aug 28 at 11:31AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Built in 1945, this legal duplex combines a primary residence with a separate lower-level apartment. The main home includes a formal dining room, updated eat-in kitchen, living room with bay window, primary suite with renovated ensuite bath, additional bedrooms, and a second full bath. The apartment has two private entrances, a living room, bedroom, renovated full bath, and access to a new deck facing the backyard and Junior Lake. Existing cabinetry and plumbing remain in the apartment, while the stove and refrigerator have been removed and the interior separation door requires reinstallation to restore the prior configuration.
Property improvements include a new septic tank, underground oil tank removal, ductless air conditioning on both levels, and a heat pump integrated with the HVAC system. The property also includes Lake Peekskill lake rights for swimming, fishing, kayaking, and non-motorized boating. Located at 18 Sylvan Road in Lake Peekskill, it offers access to the Taconic State Parkway, Route 6, Metro-North, shopping, dining, and Hudson Valley recreation.
Property improvements include a new septic tank, underground oil tank removal, ductless air conditioning on both levels, and a heat pump integrated with the HVAC system. The property also includes Lake Peekskill lake rights for swimming, fishing, kayaking, and non-motorized boating. Located at 18 Sylvan Road in Lake Peekskill, it offers access to the Taconic State Parkway, Route 6, Metro-North, shopping, dining, and Hudson Valley recreation.
Key Highlights
- Legal two‑family property built in 1945
- Lower‑level apartment with two private entrances
- Renovated apartment bathroom; existing kitchen cabinetry and plumbing remain
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
$61,160
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
8.94%
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%
$1,223,200
$1.2M
Cap Rate 7%
$873,714
$873.7K
Cap Rate 9%
$679,556
$679.6K
Market Conditions
NOI Build-Up for 2,502 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
$115.6K $46.20/SF
− Vacancy
−$4.4K −$1.76/SF
EGI
$111.2K $44.44/SF
− OpEx
−$50.0K −$20.00/SF
NOI
$61.2K $24.44/SF
Area
Putnam County, NY
Vacancy
3.80%
Lease Rate
$46.20 /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%
$1,223,200
Cap Rate 7%
$873,714
Cap Rate 9%
$679,556
Alternative Uses
Best Use
Apartment 5plus
$873.7K
$764.5K – $1.02M
NOI $61,160 @ 7.0% cap · market cap 8.94%
Second Best
Multifamily LT 5
$591.6K
$517.7K – $690.2K
NOI $41,412 @ 7.0% cap · market cap 6.05%
Theoretical Best
Specialty Retail
$1.65M
$1.45M – $1.93M
NOI $115,799 @ 7.0% cap · market cap 16.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Explore this area
Business Placement
Demographics for 10537, NY
2,527
Population
984
Households
2.6
Avg Household Size
41
Median Age
51%
College-Educated
91%
High-School Grad
1.1 sq mi
ZIP Area
2,297
Density / Sq Mi
$126,354
Median Household Income
$48,602
Median Earnings
$2,298
Median Rent
$367,500
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?
Duplex - Legal two-family layout includes a lower-level apartment with private entrances.
Where is this duplex located?
The property is located at 18 Sylvan Road Lake Peekskill, NY.
What is the asking price?
The asking price for this property is $684,000.
What are key features of this property?
This property features: Legal two‑family property built in 1945; Lower‑level apartment with two private entrances; Renovated apartment bathroom; existing kitchen cabinetry and plumbing remain
