Duplex with Detached
For Sale
$499,000
429 S 9th Ave, Mount Vernon, NY 10550
Two private-entry units include full kitchens, living rooms, and two full bathrooms each.
Property Size2,645 SF
Days on Market133
Property Features for 429 S 9th Ave
General Information
Standard status
Active
Size
2,645 SF
Total Parking Spaces
1
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$13,597
Building Details
Building Size
2,645 SF
Year Built
1930
Stories
2
Listing Agency:
Womcore LLC dba Remax Edge
(516) 524-6162
Listed By:
Patrick Lennon · License #10401351898
(516) 524-6162
Source:
Elliman
Added: Apr 21
Changed: Aug 30
Last Checked: Aug 31 at 3:04PM
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 Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
This 1930 duplex is configured with a two-bedroom unit on each floor. Both units have private entrances, separate living rooms, full kitchens, and two full bathrooms. The first-floor residence also connects to an enclosed sunroom that can serve as additional living space or a home office. A full unfinished basement provides storage or future customization potential, while the property includes a private driveway and detached one-car garage. The building is being offered as-is.
Located at 429 S 9th Ave in Mount Vernon, the property has a Walk Score of 74, a Transit Score of 66, and a Bike Score of 53. Its layout supports continued use as a two-unit property, subject to the buyer’s plans and applicable requirements.
Located at 429 S 9th Ave in Mount Vernon, the property has a Walk Score of 74, a Transit Score of 66, and a Bike Score of 53. Its layout supports continued use as a two-unit property, subject to the buyer’s plans and applicable requirements.
Key Highlights
- Two‑bedroom unit on each floor with separate private entrances
- Each unit includes a living room, full kitchen, and two full bathrooms
- Enclosed sunroom attached to the first‑floor 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
$45,366
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
9.09%
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%
$907,320
$907.3K
Cap Rate 7%
$648,086
$648.1K
Cap Rate 9%
$504,067
$504.1K
Market Conditions
NOI Build-Up for 2,645 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
$87.3K $33.00/SF
− Vacancy
−$4.8K −$1.82/SF
EGI
$82.5K $31.19/SF
− OpEx
−$37.1K −$14.03/SF
NOI
$45.4K $17.15/SF
Area
Westchester County, NY
Vacancy
5.50%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
45.00%
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%
$907,320
Cap Rate 7%
$648,086
Cap Rate 9%
$504,067
Alternative Uses
Best Use
Multifamily LT 5
$736.0K
$644.0K – $858.7K
NOI $51,519 @ 7.0% cap · market cap 10.32%
Second Best
Apartment 5plus
$648.1K
$567.1K – $756.1K
NOI $45,366 @ 7.0% cap · market cap 9.09%
Theoretical Best
Retail
$799.0K
$699.1K – $932.1K
NOI $55,927 @ 7.0% cap · market cap 11.21%
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
1,405
Businesses Nearby
Explore this area
Business Placement
Demographics for 10550, NY
41,137
Population
16,865
Households
2.4
Avg Household Size
38
Median Age
23%
College-Educated
82%
High-School Grad
2.0 sq mi
ZIP Area
20,569
Density / Sq Mi
$56,903
Median Household Income
$43,733
Median Earnings
$1,451
Median Rent
$482,600
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 private-entry units include full kitchens, living rooms, and two full bathrooms each.
Where is this duplex located?
The property is located at 429 S 9th Ave Mount Vernon, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two‑bedroom unit on each floor with separate private entrances; Each unit includes a living room, full kitchen, and two full bathrooms; Enclosed sunroom attached to the first‑floor unit
