Updated Duplex with Garage
For Sale
$695,000
Pending
273 Madison Avenue, Portchester, NY 10573
Two residential units offer flexible living arrangements with private laundry, driveway parking, and shared outdoor space.
Property Size1,408 SF
Days on Market61
Property Features for 273 Madison Avenue
General Information
Standard status
Pending
Size
1,408 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,165
Amenities
garage storage
shared patio
backyard
Building Details
Building Size
1,408 SF
Year Built
1957
Buildings
1
Listing Agency:
Keller Williams NY Realty
Listed By:
Brittany A Sandarciero
(914) 374-7978
Source:
Cottiemaxwellrealestate
Added: Jul 15
Changed: Sep 8
Last Checked: Sep 12 at 7:52AM
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 Keller Williams NY Realty
Investment Insights
Based on property information with market context.
This duplex contains two separate residential units. The first floor offers a 2-bedroom, 1-bath layout with an open living and kitchen area, wood flooring, and private laundry access. The second floor includes 1 bedroom, 1 bath, a living room, and a kitchen. Garage storage, driveway parking, and a shared patio and backyard with an upper landing add practical features. The second-floor unit has been freshly painted and professionally deep cleaned.
Property updates include a furnace installed in 2024, a roof replaced in 2025, and a garage door opener added in 2026. Built in 1957, the property is positioned between two neighborhood parks and near Metro-North, major highways, and downtown Port Chester restaurants, shopping, and entertainment.
Property updates include a furnace installed in 2024, a roof replaced in 2025, and a garage door opener added in 2026. Built in 1957, the property is positioned between two neighborhood parks and near Metro-North, major highways, and downtown Port Chester restaurants, shopping, and entertainment.
Key Highlights
- Two‑unit duplex with 2‑bedroom and 1‑bedroom floor plans
- First‑floor unit includes 2 bedrooms, 1 bath, wood floors, open living and kitchen areas, and private laundry
- Second‑floor unit features 1 bedroom, 1 bath, living room, and kitchen
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
$27,425
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
3.95%
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%
$548,500
$548.5K
Cap Rate 7%
$391,786
$391.8K
Cap Rate 9%
$304,722
$304.7K
Market Conditions
NOI Build-Up for 1,408 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
$41.9K $29.76/SF
− Vacancy
−$2.7K −$1.93/SF
EGI
$39.2K $27.83/SF
− OpEx
−$11.8K −$8.35/SF
NOI
$27.4K $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%
$548,500
Cap Rate 7%
$391,786
Cap Rate 9%
$304,722
Alternative Uses
Best Use
Multifamily LT 5
$391.8K
$342.8K – $457.1K
NOI $27,425 @ 7.0% cap · market cap 3.95%
Second Best
Apartment 5plus
$345.0K
$301.9K – $402.5K
NOI $24,150 @ 7.0% cap · market cap 3.47%
Theoretical Best
Retail
$425.3K
$372.1K – $496.2K
NOI $29,771 @ 7.0% cap · market cap 4.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
849
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
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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?
Duplex - Two residential units offer flexible living arrangements with private laundry, driveway parking, and shared outdoor space.
Where is this duplex located?
The property is located at 273 Madison Avenue Portchester, NY.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Two‑unit duplex with 2‑bedroom and 1‑bedroom floor plans; First‑floor unit includes 2 bedrooms, 1 bath, wood floors, open living and kitchen areas, and private laundry; Second‑floor unit features 1 bedroom, 1 bath, living room, and kitchen
