Duplex with Detached
New
For Sale
$875,000
29-31 N Ridge Street, Rye Brook, NY 10573
Two attached residences provide private entrances, separate utilities, and dedicated outdoor spaces.
Property Size2,614 SF
Lot Size0.50 Acres
Days on Market7
Property Features for 29-31 N Ridge Street
General Information
Standard status
Active
Size
2,614 SF
Lot size
0.50 Acres
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$15,737
Amenities
covered patios
fenced backyard
gardens
walk-up attic
Building Details
Building Size
2,614 SF
Year Built
1960
Buildings
1
Listing Agency:
Keller Williams NY Realty
(914) 374-7978
Listed By:
Brittany A Sandarciero
Source:
Cottiemaxwellrealestate
Added: Aug 3
Changed: Aug 8
Last Checked: Aug 8 at 9:22AM
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.
Built in 1960, this duplex contains two attached residences arranged in a townhome-style configuration. Each unit has a private entrance, separate utilities, an unfinished basement, and its own outdoor area. Both residences include living rooms, formal dining rooms, hardwood flooring, and kitchens with sliding doors opening to covered rear patios. The fenced backyard includes mature plantings and established gardens.
Unit 29 offers 2 bedrooms and 1 bathroom, along with a walk-up attic for additional storage. Unit 31 includes 2 bedrooms and 2 bathrooms, with one full bathroom on each level. An expansive driveway accommodates 8+ vehicles and leads to a detached 2-car garage. The property also includes separate gas cooking service, individual 275-gallon oil tanks, and baseboard heating.
Unit 29 offers 2 bedrooms and 1 bathroom, along with a walk-up attic for additional storage. Unit 31 includes 2 bedrooms and 2 bathrooms, with one full bathroom on each level. An expansive driveway accommodates 8+ vehicles and leads to a detached 2-car garage. The property also includes separate gas cooking service, individual 275-gallon oil tanks, and baseboard heating.
Key Highlights
- Two attached residences on a 0.5‑acre lot
- Unit 29: 2 bedrooms, 1 bathroom, and walk‑up attic
- Unit 31: 2 bedrooms and 2 bathrooms across two levels
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
$50,915
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
5.82%
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%
$1,018,300
$1.0M
Cap Rate 7%
$727,357
$727.4K
Cap Rate 9%
$565,722
$565.7K
Market Conditions
NOI Build-Up for 2,614 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
$77.8K $29.76/SF
− Vacancy
−$5.1K −$1.93/SF
EGI
$72.7K $27.83/SF
− OpEx
−$21.8K −$8.35/SF
NOI
$50.9K $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%
$1,018,300
Cap Rate 7%
$727,357
Cap Rate 9%
$565,722
Alternative Uses
Best Use
Multifamily LT 5
$727.4K
$636.4K – $848.6K
NOI $50,915 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$640.5K
$560.4K – $747.3K
NOI $44,835 @ 7.0% cap · market cap 5.12%
Theoretical Best
Retail
$789.6K
$690.9K – $921.2K
NOI $55,272 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
155
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 - Two attached residences provide private entrances, separate utilities, and dedicated outdoor spaces.
Where is this duplex located?
The property is located at 29-31 N Ridge Street Rye Brook, NY.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Two attached residences on a 0.5‑acre lot; Unit 29: 2 bedrooms, 1 bathroom, and walk‑up attic; Unit 31: 2 bedrooms and 2 bathrooms across two levels
