Two-Family Duplex with
For Sale
$649,000
45 Lispenard Avenue, New Rochelle, NY 10801
Two spacious apartments retain original architectural details and include a private deck and attached two-car garage.
Property Size2,715 SF
Days on Market14
Property Features for 45 Lispenard Avenue
General Information
Standard status
Active
Size
2,715 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$15,967
Building Details
Building Size
2,715 SF
Year Built
1912
Units
2
Listing Agency:
Coldwell Banker Realty
(914) 419-1354
Listed By:
Grace DiPalermo
(914) 419-1354
Source:
Mahlerrealty
Added: Aug 17
Changed: Aug 29
Last Checked: Aug 29 at 11:11AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This legal duplex is configured as two full apartments, each with two bedrooms and one full bathroom. The first-floor residence includes generously sized rooms, while the upper unit has a living room that opens to a private deck. Both apartments feature original hardwood floors, pocket doors, stained-glass windows, high ceilings, and other period details. The property offers more than 2,700 square feet of living space and requires restoration.
An attached two-car garage adds functional storage and parking. Stairs lead to a legal third floor with two additional rooms that can serve as office, guest, recreation, or living areas. The property is located near shops, parks, restaurants, and Metro-North in New Rochelle’s East End.
An attached two-car garage adds functional storage and parking. Stairs lead to a legal third floor with two additional rooms that can serve as office, guest, recreation, or living areas. The property is located near shops, parks, restaurants, and Metro-North in New Rochelle’s East End.
Key Highlights
- Legal duplex with two two‑bedroom, one‑bath apartments
- More than 2,700 square feet of living space
- Attached two‑car garage
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
$52,883
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
8.15%
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%
$1,057,660
$1.1M
Cap Rate 7%
$755,471
$755.5K
Cap Rate 9%
$587,589
$587.6K
Market Conditions
NOI Build-Up for 2,715 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
$80.8K $29.76/SF
− Vacancy
−$5.3K −$1.93/SF
EGI
$75.5K $27.83/SF
− OpEx
−$22.7K −$8.35/SF
NOI
$52.9K $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%
$1,057,660
Cap Rate 7%
$755,471
Cap Rate 9%
$587,589
Alternative Uses
Best Use
Multifamily LT 5
$755.5K
$661.0K – $881.4K
NOI $52,883 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$665.2K
$582.1K – $776.1K
NOI $46,567 @ 7.0% cap · market cap 7.18%
Theoretical Best
Retail
$820.1K
$717.6K – $956.8K
NOI $57,407 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,119
Businesses Nearby
Explore this area
Business Placement
Demographics for 10801, NY
42,949
Population
16,912
Households
2.5
Avg Household Size
37
Median Age
43%
College-Educated
85%
High-School Grad
3.4 sq mi
ZIP Area
12,632
Density / Sq Mi
$83,534
Median Household Income
$50,274
Median Earnings
$1,742
Median Rent
$555,000
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 spacious apartments retain original architectural details and include a private deck and attached two-car garage.
Where is this duplex located?
The property is located at 45 Lispenard Avenue New Rochelle, NY.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Legal duplex with two two‑bedroom, one‑bath apartments; More than 2,700 square feet of living space; Attached two‑car garage
