Renovated Two-Family
New
For Sale
$589,000
32 Tomkins Avenue, Stony Point, NY 10980
Two updated apartments offer in-unit laundry, efficient mechanical systems, and contemporary kitchen finishes.
Property Size1,820 SF
Days on Market3
Property Features for 32 Tomkins Avenue
General Information
Standard status
Active
Size
1,820 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$10,200
Building Details
Building Size
1,820 SF
Year Built
1923
Units
2
Listing Agency:
Howard Hanna Rand Realty
(845) 216-3712
Listed By:
Lauren M Muller
(845) 216-3712
Source:
Cohenandcohenrealty
Added: Aug 18
Changed: Aug 20
Last Checked: Aug 20 at 4:24AM
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 Howard Hanna Rand Realty
Investment Insights
Based on property information with market context.
This legal two-family duplex, built in 1923, contains two renovated apartments with updated finishes and modern mechanical systems. Both units include high-efficiency heating and hot water equipment, private washers and dryers, stainless steel appliances, granite countertops, and white Shaker cabinetry. The upper apartment has two bedrooms and an additional sitting room that can serve as flexible living or work space. The lower apartment includes two bedrooms, one full bath, an updated kitchen, and its own laundry appliances.
The property is located in Stony Point near the Hudson River waterfront. A public boat launch, parks, walking trails, marinas, and other recreational amenities are within walking distance. Shopping, dining, and commuter routes serving Rockland County and the Lower Hudson Valley are also nearby. The duplex is currently occupied by month-to-month tenants.
The property is located in Stony Point near the Hudson River waterfront. A public boat launch, parks, walking trails, marinas, and other recreational amenities are within walking distance. Shopping, dining, and commuter routes serving Rockland County and the Lower Hudson Valley are also nearby. The duplex is currently occupied by month-to-month tenants.
Key Highlights
- Legal two‑family duplex with two renovated apartments
- Both apartments feature high‑efficiency heating and hot water systems
- In‑unit washers and dryers provided in both apartments
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
$32,162
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
5.46%
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%
$643,240
$643.2K
Cap Rate 7%
$459,457
$459.5K
Cap Rate 9%
$357,356
$357.4K
Market Conditions
NOI Build-Up for 1,820 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
$49.1K $27.00/SF
− Vacancy
−$3.2K −$1.76/SF
EGI
$45.9K $25.25/SF
− OpEx
−$13.8K −$7.57/SF
NOI
$32.2K $17.67/SF
Area
Rockland County, NY
Vacancy
6.50%
Lease Rate
$27.00 /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%
$643,240
Cap Rate 7%
$459,457
Cap Rate 9%
$357,356
Alternative Uses
Best Use
Multifamily LT 5
$459.5K
$402.0K – $536.0K
NOI $32,162 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$426.1K
$372.8K – $497.1K
NOI $29,826 @ 7.0% cap · market cap 5.06%
Theoretical Best
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $84,234 @ 7.0% cap · market cap 14.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
301
Businesses Nearby
Explore this area
Business Placement
Demographics for 10980, NY
13,289
Population
5,081
Households
2.6
Avg Household Size
43
Median Age
37%
College-Educated
92%
High-School Grad
27.4 sq mi
ZIP Area
485
Density / Sq Mi
$125,333
Median Household Income
$58,306
Median Earnings
$1,748
Median Rent
$475,200
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 updated apartments offer in-unit laundry, efficient mechanical systems, and contemporary kitchen finishes.
Where is this duplex located?
The property is located at 32 Tomkins Avenue Stony Point, NY.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Legal two‑family duplex with two renovated apartments; Both apartments feature high‑efficiency heating and hot water systems; In‑unit washers and dryers provided in both apartments
