Side-by-Side Colonial
New
For Sale
Contact for pricing
227-229 S Ridge Street, Portchester, NY 10573
Two-family property with private basements, attached garage parking, separate utilities, and flexible upper-level bonus rooms.
Property Size3,734 SF
Days on Market7
Property Features for 227-229 S Ridge Street
General Information
Standard status
Active
Size
3,734 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$12,895
Building Details
Building Size
3,734 SF
Year Built
1920
Listing Agency:
Houlihan Lawrence Inc.
Listed By:
Heidi Oliver
(914) 328-8400
Source:
Totallywestchester
Added: Sep 20
Changed: Sep 26
Last Checked: Sep 26 at 1:20PM
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 Lawrence Inc.
Investment Insights
Based on property information with market context.
This side-by-side Colonial duplex contains 3,400 total square feet, with 1,700 square feet in each unit. Both residences feature open main living areas with hardwood flooring, granite-counter kitchens, stainless steel appliances, and a full bathroom on the first floor. Each unit includes three bedrooms, an additional full bathroom, and two third-floor bonus rooms that can support office, recreation, or storage needs.
Private walk-out basements provide dedicated storage and full laundry setups with washers and dryers. The property is served by separate electric and gas meters, natural gas heating, public water, and public sewer. Parking includes one attached garage space and two assigned outdoor spaces per side. Built in 1920, the duplex is located near local transit, parks, and downtown shopping.
Private walk-out basements provide dedicated storage and full laundry setups with washers and dryers. The property is served by separate electric and gas meters, natural gas heating, public water, and public sewer. Parking includes one attached garage space and two assigned outdoor spaces per side. Built in 1920, the duplex is located near local transit, parks, and downtown shopping.
Key Highlights
- 3,400 total square feet; 1,700 square feet per unit
- Two side‑by‑side units, each with 3 bedrooms and 2 full bathrooms
- Two third‑floor bonus rooms included in each unit
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
$72,731
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
5.21%
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%
$1,454,620
$1.5M
Cap Rate 7%
$1,039,014
$1.0M
Cap Rate 9%
$808,122
$808.1K
Market Conditions
NOI Build-Up for 3,734 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
$111.1K $29.76/SF
− Vacancy
−$7.2K −$1.93/SF
EGI
$103.9K $27.83/SF
− OpEx
−$31.2K −$8.35/SF
NOI
$72.7K $19.48/SF
Area
Westchester County, NY
Vacancy
6.50%
Lease Rate
$29.76 /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%
$1,454,620
Cap Rate 7%
$1,039,014
Cap Rate 9%
$808,122
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$909.1K – $1.21M
NOI $72,731 @ 7.0% cap · market cap 5.21%
Second Best
Apartment 5plus
$914.9K
$800.6K – $1.07M
NOI $64,045 @ 7.0% cap · market cap 4.59%
Theoretical Best
Retail
$1.13M
$986.9K – $1.32M
NOI $78,953 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
152
Businesses Nearby
Explore this area
Business Placement
Demographics for 10573, NY
41,758
Population
14,592
Households
2.9
Avg Household Size
39
Median Age
44%
College-Educated
83%
High-School Grad
5.5 sq mi
ZIP Area
7,592
Density / Sq Mi
$110,612
Median Household Income
$48,263
Median Earnings
$1,940
Median Rent
$649,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Duplex - Two-family property with private basements, attached garage parking, separate utilities, and flexible upper-level bonus rooms.
Where is this duplex located?
The property is located at 227-229 S Ridge Street Portchester, NY.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: 3,400 total square feet; 1,700 square feet per unit; Two side‑by‑side units, each with 3 bedrooms and 2 full bathrooms; Two third‑floor bonus rooms included in each unit
