Two-Family Duplex with
For Sale
Contact for pricing
2 Ritters Lane, Yonkers, NY 10703
Legal two-family residence with an attached garage and backyard outdoor space.
Property Size1,656 SF
Days on Market8
Property Features for 2 Ritters Lane
General Information
Standard status
Active
Size
1,656 SF
Total Parking Spaces
2
Property subtype
Duplex
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,226
Amenities
backyard
Building Details
Building Size
1,656 SF
Year Built
1904
Buildings
1
Listing Agency:
Century 21 Dawns Gold Realty
(914) 224-9830
Listed By:
Sufian Saha
Source:
Totallywestchester
Added: Aug 13
Changed: Aug 20
Last Checked: Aug 20 at 8:35AM
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 Century 21 Dawns Gold Realty
Investment Insights
Based on property information with market context.
Located at 2 Ritters Lane in Yonkers, NY 10703, this legal two-family duplex was built in 1904. The configuration includes a two-bedroom unit above a separate one-bedroom unit, providing distinct residential spaces within the property.
An attached two-car garage adds covered parking and storage, while the backyard provides outdoor space for privacy and entertaining.
An attached two-car garage adds covered parking and storage, while the backyard provides outdoor space for privacy and entertaining.
Key Highlights
- Legal two‑family duplex in Yonkers, NY
- Two‑bedroom unit over a separate one‑bedroom unit
- Attached two‑car garage
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
$40,071
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
8.01%
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%
$801,420
$801.4K
Cap Rate 7%
$572,443
$572.4K
Cap Rate 9%
$445,233
$445.2K
Market Conditions
NOI Build-Up for 1,656 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
$62.6K $37.80/SF
− Vacancy
−$5.4K −$3.23/SF
EGI
$57.2K $34.57/SF
− OpEx
−$17.2K −$10.37/SF
NOI
$40.1K $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%
$801,420
Cap Rate 7%
$572,443
Cap Rate 9%
$445,233
Alternative Uses
Best Use
Multifamily LT 5
$572.4K
$500.9K – $667.9K
NOI $40,071 @ 7.0% cap · market cap 8.01%
Second Best
Apartment 5plus
$525.7K
$460.0K – $613.3K
NOI $36,800 @ 7.0% cap · market cap 7.36%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,507
Businesses Nearby
Explore this area
Business Placement
Demographics for 10703, NY
22,571
Population
7,925
Households
2.8
Avg Household Size
39
Median Age
26%
College-Educated
80%
High-School Grad
1.6 sq mi
ZIP Area
14,107
Density / Sq Mi
$74,940
Median Household Income
$42,972
Median Earnings
$1,702
Median Rent
$477,500
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 residence with an attached garage and backyard outdoor space.
Where is this duplex located?
The property is located at 2 Ritters Lane Yonkers, NY.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: Legal two‑family duplex in Yonkers, NY; Two‑bedroom unit over a separate one‑bedroom unit; Attached two‑car garage
