Legal 3-Family Home with
For Sale
$999,000
19 Ridgewood Avenue, Yonkers, NY 10704
Legal three-family residence with duplex-style first floor, finished lower level, and detached two-car garage on a double lot.
Property Size2,000 SF
Lot Size0.17 Acres
Price / SF$499.50
Days on Market34
Property Features for 19 Ridgewood Avenue
General Information
Standard status
Active
Size
2,000 SF
Total Parking Spaces
8
Lot size
0.17 Acres
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$17,760
Building Details
Building Size
2,000 SF
Year Built
1894
Tenancy
Multi
Listing Agency:
Double C Realty
(914) 629-7649
Listed By:
Kieran Dwyer
Source:
Shawmetro
Added: Jul 27
Changed: Aug 25
Last Checked: Aug 26 at 1:21PM
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 Double C Realty
Investment Insights
Based on property information with market context.
This legal 3-family home is set on an expansive double lot and features a duplex-style first-floor arrangement with a 3-bedroom layout, a spacious living room, formal dining room, and a kitchen with updated appliances and direct access to the finished lower level. The lower level includes a recreation room, home office, abundant storage, a laundry area, and a utility room. The second floor offers a 2-bedroom apartment, and the third floor includes a 1-bedroom apartment with abundant natural sunlight.
Outdoor space includes a side yard and a massive backyard suitable for gatherings and everyday use. An oversized driveway accommodates up to six vehicles and is complemented by a detached two-car garage.
Conveniently positioned near Metro-North, Bee-Line buses, Cross County Shopping Center, major parkways, restaurants, and everyday conveniences, the property provides easy commuter access to NYC.
Outdoor space includes a side yard and a massive backyard suitable for gatherings and everyday use. An oversized driveway accommodates up to six vehicles and is complemented by a detached two-car garage.
Conveniently positioned near Metro-North, Bee-Line buses, Cross County Shopping Center, major parkways, restaurants, and everyday conveniences, the property provides easy commuter access to NYC.
Key Highlights
- Legal 3‑family home built in 1894 on a double lot measuring 75 x 100
- First‑floor unit offers a 3‑bedroom layout with living room, formal dining room, and kitchen with direct access to the finished lower level
- Second floor has a 2‑bedroom apartment; third floor features a 1‑bedroom apartment
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
$48,395
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
4.84%
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%
$967,900
$967.9K
Cap Rate 7%
$691,357
$691.4K
Cap Rate 9%
$537,722
$537.7K
Market Conditions
NOI Build-Up for 2,000 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
$75.6K $37.80/SF
− Vacancy
−$6.5K −$3.23/SF
EGI
$69.1K $34.57/SF
− OpEx
−$20.7K −$10.37/SF
NOI
$48.4K $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%
$967,900
Cap Rate 7%
$691,357
Cap Rate 9%
$537,722
Alternative Uses
Best Use
Multifamily LT 5
$691.4K
$604.9K – $806.6K
NOI $48,395 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$634.9K
$555.6K – $740.7K
NOI $44,444 @ 7.0% cap · market cap 4.45%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,243
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?
Triplex - Legal three-family residence with duplex-style first floor, finished lower level, and detached two-car garage on a double lot.
Where is this triplex located?
The property is located at 19 Ridgewood Avenue Yonkers, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Legal 3‑family home built in 1894 on a double lot measuring 75 x 100; First‑floor unit offers a 3‑bedroom layout with living room, formal dining room, and kitchen with direct access to the finished lower level; Second floor has a 2‑bedroom apartment; third floor features a 1‑bedroom apartment
