Two-Family Colonial
New
For Sale
$795,000
45 Elm Street, Mount Vernon, NY 10550
Flexible multifamily layout with finished attic, finished basement, fenced yard, and private driveway parking.
Property Size1,944 SF
Price / SF$408.95
Days on Market4
Property Features for 45 Elm Street
General Information
Standard status
Active
Size
1,944 SF
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$16,843
Amenities
covered front porch
covered rear patio
fenced yard
Building Details
Building Size
1,944 SF
Year Built
1908
Buildings
1
Construction
Colonial
Listing Agency:
Luxian International Realty
Listed By:
Brian Butler
(716) 801-0410
Source:
Shawmetro
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 14 at 8:13AM
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 Luxian International Realty
Investment Insights
Based on property information with market context.
Built in 1908, this two-family Colonial provides approximately 1,944 square feet of above-grade space across two residential units. The property includes five bedrooms and three full bathrooms, with living areas and eat-in kitchens serving each unit. A finished attic adds usable interior space, while the full finished basement contributes approximately 736 square feet for recreation and storage.
Exterior features include a covered front porch, covered rear patio, fenced yard, and private driveway with parking for multiple vehicles. The property is located near shopping, schools, public transportation, and major roadways in Mount Vernon, NY.
Exterior features include a covered front porch, covered rear patio, fenced yard, and private driveway with parking for multiple vehicles. The property is located near shopping, schools, public transportation, and major roadways in Mount Vernon, NY.
Key Highlights
- Two residential units with 5 bedrooms and 3 full bathrooms
- Approximately 1,944 square feet of above‑grade living space
- Full finished basement with approximately 736 square feet
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
$37,865
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
4.76%
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%
$757,300
$757.3K
Cap Rate 7%
$540,929
$540.9K
Cap Rate 9%
$420,722
$420.7K
Market Conditions
NOI Build-Up for 1,944 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
$57.9K $29.76/SF
− Vacancy
−$3.8K −$1.93/SF
EGI
$54.1K $27.83/SF
− OpEx
−$16.2K −$8.35/SF
NOI
$37.9K $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%
$757,300
Cap Rate 7%
$540,929
Cap Rate 9%
$420,722
Alternative Uses
Best Use
Multifamily LT 5
$540.9K
$473.3K – $631.1K
NOI $37,865 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$476.3K
$416.8K – $555.7K
NOI $33,343 @ 7.0% cap · market cap 4.19%
Theoretical Best
Retail
$587.2K
$513.8K – $685.1K
NOI $41,105 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,685
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Flexible multifamily layout with finished attic, finished basement, fenced yard, and private driveway parking.
Where is this duplex located?
The property is located at 45 Elm Street Mount Vernon, NY.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Two residential units with 5 bedrooms and 3 full bathrooms; Approximately 1,944 square feet of above‑grade living space; Full finished basement with approximately 736 square feet
