Triplex with Finished Lower
New
For Sale
$1,150,000
232 Jessamine Avenue, Yonkers, NY 10701
Delivered vacant, the property includes driveway parking and a separate garage space.
Property Size2,352 SF
Price / SF$488.95
Days on Market7
Property Features for 232 Jessamine Avenue
General Information
Standard status
Active
Size
2,352 SF
Total Parking Spaces
5
Property subtype
Triplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Unit Mix
1 x 2BR/1BA, 1 x 4BR/2BA, 1 x 1BR
Taxes and HOA fees
Annual Taxes
$15,715
Amenities
backyard
Building Details
Building Size
2,352 SF
Year Built
1890
Listing Agency:
Real Broker NY LLC
Listed By:
Shpresa Camaj
(917) 645-6629
Source:
Shawmetro
Added: Sep 25
Changed: Sep 28
Last Checked: Oct 1 at 7:45PM
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 Real Broker NY LLC
Investment Insights
Based on property information with market context.
The 2,352-square-foot property has a two-bedroom, one-bathroom living area with a living room and separate dining room, alongside a four-bedroom duplex with two full bathrooms and additional flexible space. A finished, above-ground lower level adds a bedroom, living area, and separate entrance. The backyard provides outdoor space. The property will be delivered vacant.
Four driveway parking spaces and one garage space are available. Reported improvements include a roof approximately three years old, newer water heaters, and newer boilers. Shopping, transportation, and major highways are nearby.
Four driveway parking spaces and one garage space are available. Reported improvements include a roof approximately three years old, newer water heaters, and newer boilers. Shopping, transportation, and major highways are nearby.
Key Highlights
- 2,352 square feet of building area
- Finished above‑ground lower level with bedroom, living space, and separate entrance
- One two‑bedroom, one‑bathroom living area and a four‑bedroom duplex with two full bathrooms
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
$56,913
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
4.95%
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%
$1,138,260
$1.1M
Cap Rate 7%
$813,043
$813.0K
Cap Rate 9%
$632,367
$632.4K
Market Conditions
NOI Build-Up for 2,352 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
$88.9K $37.80/SF
− Vacancy
−$7.6K −$3.23/SF
EGI
$81.3K $34.57/SF
− OpEx
−$24.4K −$10.37/SF
NOI
$56.9K $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%
$1,138,260
Cap Rate 7%
$813,043
Cap Rate 9%
$632,367
Alternative Uses
Best Use
Multifamily LT 5
$813.0K
$711.4K – $948.6K
NOI $56,913 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$746.7K
$653.3K – $871.1K
NOI $52,267 @ 7.0% cap · market cap 4.54%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
708
Businesses Nearby
Explore this area
Business Placement
Demographics for 10701, NY
68,704
Population
28,252
Households
2.4
Avg Household Size
36
Median Age
30%
College-Educated
79%
High-School Grad
4.4 sq mi
ZIP Area
15,615
Density / Sq Mi
$63,310
Median Household Income
$42,702
Median Earnings
$1,694
Median Rent
$412,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Delivered vacant, the property includes driveway parking and a separate garage space.
Where is this triplex located?
The property is located at 232 Jessamine Avenue Yonkers, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 2,352 square feet of building area; Finished above‑ground lower level with bedroom, living space, and separate entrance; One two‑bedroom, one‑bathroom living area and a four‑bedroom duplex with two full bathrooms
