Two-Family Duplex
For Sale
$799,000
288 Olivia Street, Portchester, NY 10573
Legal two-unit residence with distinct apartments and finished lower-level space.
Property Size1,458 SF
Days on Market21
Property Features for 288 Olivia Street
General Information
Standard status
Active
Size
1,458 SF
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$13,065
Building Details
Building Size
1,458 SF
Year Built
1905
Buildings
1
Listing Agency:
C. J. Pagano & Sons, Inc.
(914) 447-8768
Listed By:
Christopher Krzeminski · License #10301223659
Source:
Cottiemaxwellrealestate
Added: Aug 4
Changed: Aug 23
Last Checked: Aug 23 at 8:37AM
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 C. J. Pagano & Sons, Inc.
Investment Insights
Based on property information with market context.
This legal two-family residence, built in 1905, contains two separate apartments. The first-floor unit is occupied and includes two bedrooms along with finished basement area that adds usable living and storage space. The upper apartment is vacant and provides one bedroom plus a bonus room.
The property is in Port Chester near downtown, with shopping, restaurants, parks, schools, Metro-North service, and major highways identified in the surrounding area. Its existing two-unit configuration supports either continued rental use or an owner-occupancy arrangement, subject to applicable requirements.
The property is in Port Chester near downtown, with shopping, restaurants, parks, schools, Metro-North service, and major highways identified in the surrounding area. Its existing two-unit configuration supports either continued rental use or an owner-occupancy arrangement, subject to applicable requirements.
Key Highlights
- Legal two‑family property with two separate apartments
- Occupied first‑floor unit with 2 bedrooms and finished basement space
- Vacant second‑floor apartment with 1 bedroom and a bonus room
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
$28,399
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
3.55%
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%
$567,980
$568.0K
Cap Rate 7%
$405,700
$405.7K
Cap Rate 9%
$315,544
$315.5K
Market Conditions
NOI Build-Up for 1,458 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
$43.4K $29.76/SF
− Vacancy
−$2.8K −$1.93/SF
EGI
$40.6K $27.83/SF
− OpEx
−$12.2K −$8.35/SF
NOI
$28.4K $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%
$567,980
Cap Rate 7%
$405,700
Cap Rate 9%
$315,544
Alternative Uses
Best Use
Multifamily LT 5
$405.7K
$355.0K – $473.3K
NOI $28,399 @ 7.0% cap · market cap 3.55%
Second Best
Apartment 5plus
$357.2K
$312.6K – $416.8K
NOI $25,007 @ 7.0% cap · market cap 3.13%
Theoretical Best
Retail
$440.4K
$385.4K – $513.8K
NOI $30,829 @ 7.0% cap · market cap 3.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,272
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
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 - Legal two-unit residence with distinct apartments and finished lower-level space.
Where is this duplex located?
The property is located at 288 Olivia Street Portchester, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Legal two‑family property with two separate apartments; Occupied first‑floor unit with 2 bedrooms and finished basement space; Vacant second‑floor apartment with 1 bedroom and a bonus room
