Yonkers Three-Family Property For
For Sale
$1,250,000
220 Woodland Ave, Yonkers, NY 10703
Three-family property with investment and development potential in Yonkers.
Property Size4,084 SF
Days on Market120
Property Features for 220 Woodland Ave
General Information
Standard status
Active
Size
4,084 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$18,093
Building Details
Building Size
4,084 SF
Year Built
1925
Units
3
Listing Agency:
Houlihan & O'Malley Real Estate Services, Inc.
(914) 522-8989
Listed By:
Raymond E. Inello
(914) 522-8989
Source:
Elliman
Added: Apr 15
Changed: Aug 8
Last Checked: Jul 16 at 9:02AM
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 & O'Malley Real Estate Services, Inc.
Investment Insights
Based on property information with market context.
This three-family property, owned and maintained by the same family for 90 years, presents a strong investment opportunity with potential for new development. Unit #1, located on the first floor, features two bedrooms, one full bath, a large eat-in kitchen, a living area, a dining area, and a private washer/dryer. Unit #2, situated on the second floor, mirrors the layout with two bedrooms, one full bath, a large eat-in kitchen, a living area, a dining area, and a private washer/dryer. Unit #3, located in the lower level, includes one bedroom, one full bath, an eat-in kitchen, a living area, a dining area, and a private washer/dryer. The property offers ample parking with a two-car garage, a driveway, and a large parking area on the left side of the house. Ideal for investors seeking stable cash flow, the oversized lot provides an opportunity to create additional buildable lots. The location has a walk score of 72, indicating it is very walkable, and a transit score of 57, indicating good transit options. The bike score is 25, indicating it is somewhat bikeable.
Key Highlights
- Strong investment potential with stable cash flow from three units.
- Opportunity for new development due to oversized lot and potential for additional buildable lots (see survey).
- Three family property owned and maintained by the same family for 90 years.
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
$98,823
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
7.91%
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%
$1,976,460
$2.0M
Cap Rate 7%
$1,411,757
$1.4M
Cap Rate 9%
$1,098,033
$1.1M
Market Conditions
NOI Build-Up for 4,084 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
$154.4K $37.80/SF
− Vacancy
−$13.2K −$3.23/SF
EGI
$141.2K $34.57/SF
− OpEx
−$42.4K −$10.37/SF
NOI
$98.8K $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%
$1,976,460
Cap Rate 7%
$1,411,757
Cap Rate 9%
$1,098,033
Alternative Uses
Best Use
Multifamily LT 5
$1.41M
$1.24M – $1.65M
NOI $98,823 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$1.30M
$1.13M – $1.51M
NOI $90,755 @ 7.0% cap · market cap 7.26%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,299
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?
Triplex - Three-family property with investment and development potential in Yonkers.
Where is this triplex located?
The property is located at 220 Woodland Ave Yonkers, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Strong investment potential with stable cash flow from three units.; Opportunity for new development due to oversized lot and potential for additional buildable lots (see survey).; Three family property owned and maintained by the same family for 90 years.
