Two-Family Duplex with
New
For Sale
Contact for pricing
429 Franklin Street, Portchester, NY 10573
A 1925 residential property with two living levels, an enclosed porch, rear yard, attic, and basement.
Property Size2,808 SF
Days on Market6
Property Features for 429 Franklin Street
General Information
Standard status
Active
Size
2,808 SF
Total Parking Spaces
2
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$14,587
Building Details
Building Size
2,808 SF
Year Built
1925
Listing Agency:
Rye Port Real Estate, Inc.
Listed By:
Kathleen Zaccagnino · License #31ZA0543350
(914) 937-1995
Source:
Totallywestchester
Added: Aug 29
Changed: Sep 3
Last Checked: Sep 2 at 9:15PM
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 Rye Port Real Estate, Inc.
Investment Insights
Based on property information with market context.
This two-family duplex in Port Chester was built in 1925 and provides separate residential accommodations across two levels. The first floor includes an enclosed porch, living room, eat-in kitchen, primary bedroom, second bedroom, and bathroom, with access to the rear yard and two-car garage. The upper level offers a living room, eat-in kitchen, two bedrooms, and a bathroom.
Additional space includes a walk-up attic and a full unfinished basement. The property is positioned in a residential area and supports an owner-occupancy arrangement with the potential to rent the other unit, as described in the listing information.
Additional space includes a walk-up attic and a full unfinished basement. The property is positioned in a residential area and supports an owner-occupancy arrangement with the potential to rent the other unit, as described in the listing information.
Key Highlights
- Two‑family duplex in a residential area
- Built in 1925
- First‑floor enclosed porch, two bedrooms, kitchen, living room, and bathroom
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
$54,694
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
5.70%
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%
$1,093,880
$1.1M
Cap Rate 7%
$781,343
$781.3K
Cap Rate 9%
$607,711
$607.7K
Market Conditions
NOI Build-Up for 2,808 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
$83.6K $29.76/SF
− Vacancy
−$5.4K −$1.93/SF
EGI
$78.1K $27.83/SF
− OpEx
−$23.4K −$8.35/SF
NOI
$54.7K $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%
$1,093,880
Cap Rate 7%
$781,343
Cap Rate 9%
$607,711
Alternative Uses
Best Use
Multifamily LT 5
$781.3K
$683.7K – $911.6K
NOI $54,694 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$688.0K
$602.0K – $802.7K
NOI $48,162 @ 7.0% cap · market cap 5.02%
Theoretical Best
Retail
$848.2K
$742.2K – $989.6K
NOI $59,374 @ 7.0% cap · market cap 6.19%
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
1,411
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - A 1925 residential property with two living levels, an enclosed porch, rear yard, attic, and basement.
Where is this duplex located?
The property is located at 429 Franklin Street Portchester, NY.
What is the asking price?
The asking price for this property is $959,000.
What are key features of this property?
This property features: Two‑family duplex in a residential area; Built in 1925; First‑floor enclosed porch, two bedrooms, kitchen, living room, and bathroom
