Duplex with Detached
For Sale
$369,000
27 Elizabeth Street, Port Jervis, NY 12771
Two-family property with separate utility metering, an additional garage/workshop, and flexible owner-occupant or rental use.
Property Size1,872 SF
Days on Market20
Property Features for 27 Elizabeth Street
General Information
Standard status
Active
Size
1,872 SF
Total Parking Spaces
6
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$4,038
Building Details
Building Size
1,872 SF
Year Built
1880
Units
2
Listing Agency:
Greene Realty Group
(888) 278-5840
Listed By:
Derek J. Greene · License #10371200613
(888) 278-5840
Source:
Nextlevelrealestateny
Added: Aug 11
Changed: Aug 30
Last Checked: Aug 30 at 4:32AM
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 Greene Realty Group
Investment Insights
Based on property information with market context.
This two-family residence includes a three-bedroom first-floor apartment and a one-bedroom unit above. The lower apartment is occupied, while the upper unit is vacant and described as being in good condition. Separate utility meters serve the units, and the property also includes a detached garage/workshop with its own electric service. The lower unit requires work, while the upper apartment provides immediate residential functionality.
A new front porch adds to the exterior improvements. The property occupies a double lot measuring approximately 60 feet wide and nearly 200 feet deep, providing substantial outdoor space. The detached garage can support storage, workshop activities, or continued rental use. Built in 1880, the duplex is located at 27 Elizabeth Street in Port Jervis, NY 12771.
A new front porch adds to the exterior improvements. The property occupies a double lot measuring approximately 60 feet wide and nearly 200 feet deep, providing substantial outdoor space. The detached garage can support storage, workshop activities, or continued rental use. Built in 1880, the duplex is located at 27 Elizabeth Street in Port Jervis, NY 12771.
Key Highlights
- Two‑family layout with a 3‑bedroom lower unit and 1‑bedroom upper unit
- Upper‑level apartment is vacant; first‑floor unit is occupied
- Separate utility meters for the residential units
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
$14,924
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
4.04%
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%
$298,480
$298.5K
Cap Rate 7%
$213,200
$213.2K
Cap Rate 9%
$165,822
$165.8K
Market Conditions
NOI Build-Up for 1,872 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
$24.0K $12.84/SF
− Vacancy
−$2.7K −$1.45/SF
EGI
$21.3K $11.39/SF
− OpEx
−$6.4K −$3.42/SF
NOI
$14.9K $7.97/SF
Area
Sullivan County, NY
Vacancy
11.30%
Lease Rate
$12.84 /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%
$298,480
Cap Rate 7%
$213,200
Cap Rate 9%
$165,822
Alternative Uses
Best Use
Multifamily LT 5
$213.2K
$186.6K – $248.7K
NOI $14,924 @ 7.0% cap · market cap 4.04%
Second Best
Apartment 5plus
$204.2K
$178.6K – $238.2K
NOI $14,291 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$513.5K
$449.3K – $599.0K
NOI $35,942 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
939
Businesses Nearby
Explore this area
Business Placement
Demographics for 12771, NY
14,423
Population
6,163
Households
2.3
Avg Household Size
41
Median Age
21%
College-Educated
91%
High-School Grad
34.6 sq mi
ZIP Area
417
Density / Sq Mi
$67,926
Median Household Income
$38,539
Median Earnings
$1,310
Median Rent
$246,100
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?
Duplex - Two-family property with separate utility metering, an additional garage/workshop, and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 27 Elizabeth Street Port Jervis, NY.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Two‑family layout with a 3‑bedroom lower unit and 1‑bedroom upper unit; Upper‑level apartment is vacant; first‑floor unit is occupied; Separate utility meters for the residential units
