Building Details

Year Built 1899

Buildings 1

Tenancy Single

Listing Agency: William Raveis Real Estate Rye

Listed By: Jason Kerwar · License #30KE1103257 Show Phone

Source: Crexi

Added: Apr 28 Changed: Oct 12 Last Checked: Oct 14 at 8:39PM

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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 William Raveis Real Estate Rye

Investment Insights

Based on property information with market context.

This legal two-family property offers three bedrooms and two bathrooms and is currently configured for use as a single-family home. The improvements include a detached one-car garage and a small backyard, providing practical outdoor and storage space.

Built in 1899, the residence is located on Terrace Avenue in the Village of Ossining, New York. Shops, transportation, and other amenities are located nearby, placing everyday services and transit options within the surrounding area.

Key Highlights

• Legal two‑family property currently being used as a single‑family home
• Three bedrooms and two bathrooms
• Detached 1‑car garage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,049

Cap Rate

3.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$500,980 $501.0K

Cap Rate 7%

$357,843 $357.8K

Cap Rate 9%

$278,322 $278.3K

Market Conditions

NOI Build-Up for 1,286 SF

Gross rent

$38.3K $29.76/SF

− Vacancy

−$2.5K −$1.93/SF

EGI

$35.8K $27.83/SF

− OpEx

−$10.7K −$8.35/SF

NOI

$25.0K $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 Rate 5%

$500,980

Cap Rate 7%

$357,843

Cap Rate 9%

$278,322

Alternative Uses

Best Use

Multifamily LT 5

$357.8K

$313.1K – $417.5K (±1% cap)

NOI $25,049 @ 7.0% cap · market cap 3.34%

Second Best

Apartment 5plus

$315.1K

$275.7K – $367.6K (±1% cap)

NOI $22,057 @ 7.0% cap · market cap 2.94%

Theoretical Best

Retail

$388.5K

$339.9K – $453.2K (±1% cap)

NOI $27,192 @ 7.0% cap · market cap 3.63%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Auto Parts Store (Bike/Boat/Book/etc) Store Big Box & Wholesale Store Storage Facility Real Estate Agency Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,194

Businesses Nearby

Explore this area Business Placement

Demographics for 10562, NY

34,252

Population

12,745

Households

2.7

Avg Household Size

40

Median Age

46%

College-Educated

87%

High-School Grad

13.5 sq mi

ZIP Area

2,537

Density / Sq Mi

$113,069

Median Household Income

$53,499

Median Earnings

$2,118

Median Rent

$486,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Currently arranged for single-family use with a private backyard and separate garage.

Where is this duplex located?

The property is located at 32 Terrace Avenue Ossining, NY.

What is the asking price?

The asking price for this property is $749,000.

What are key features of this property?

This property features: Legal two‑family property currently being used as a single‑family home; Three bedrooms and two bathrooms; Detached 1‑car garage