Two-Family Home with Finished Third
For Sale
$825,000
33 Soundview Street, Portchester, NY 10573
Separate gas and electric utilities serve each unit, while the upper apartment includes additional finished living space.
Property Size1,843 SF
Days on Market9
Property Features for 33 Soundview Street
General Information
Standard status
Active
Size
1,843 SF
Property subtype
Duplex
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$14,272
Building Details
Building Size
1,843 SF
Year Built
1900
Buildings
1
Listing Agency:
C. J. Pagano & Sons, Inc.
(914) 447-8768
Listed By:
Christopher Krzeminski · License #10301223659
Source:
Cottiemaxwellrealestate
Added: Aug 1
Changed: Aug 4
Last Checked: Aug 8 at 9:53AM
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.
Built in 1900, this duplex offers two residential units with high ceilings, hardwood floors, and a covered front porch. Gas and electric utilities are separately metered for each unit. The second-floor apartment continues into a finished third level, adding usable interior space and flexibility within the upper residence.
The property is located in Port Chester, within walking distance of the Metro-North train station, downtown restaurants, retail shopping, and The Capitol Theatre. It is also near the Village’s redevelopment corridor, where approved and proposed mixed-use projects are planned. The combination of period character, separated utilities, and expanded upper-level space defines the property’s practical configuration.
The property is located in Port Chester, within walking distance of the Metro-North train station, downtown restaurants, retail shopping, and The Capitol Theatre. It is also near the Village’s redevelopment corridor, where approved and proposed mixed-use projects are planned. The combination of period character, separated utilities, and expanded upper-level space defines the property’s practical configuration.
Key Highlights
- Duplex with two residential units
- Built in 1900
- Separate gas and electric utilities for each unit
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
$35,898
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
4.35%
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%
$717,960
$718.0K
Cap Rate 7%
$512,829
$512.8K
Cap Rate 9%
$398,867
$398.9K
Market Conditions
NOI Build-Up for 1,843 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
$54.8K $29.76/SF
− Vacancy
−$3.6K −$1.93/SF
EGI
$51.3K $27.83/SF
− OpEx
−$15.4K −$8.35/SF
NOI
$35.9K $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%
$717,960
Cap Rate 7%
$512,829
Cap Rate 9%
$398,867
Alternative Uses
Best Use
Multifamily LT 5
$512.8K
$448.7K – $598.3K
NOI $35,898 @ 7.0% cap · market cap 4.35%
Second Best
Apartment 5plus
$451.6K
$395.1K – $526.9K
NOI $31,611 @ 7.0% cap · market cap 3.83%
Theoretical Best
Retail
$556.7K
$487.1K – $649.5K
NOI $38,969 @ 7.0% cap · market cap 4.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,224
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 - Separate gas and electric utilities serve each unit, while the upper apartment includes additional finished living space.
Where is this duplex located?
The property is located at 33 Soundview Street Portchester, NY.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Duplex with two residential units; Built in 1900; Separate gas and electric utilities for each unit
