Colonial Duplex with Attached
For Sale
$649,000
45 Lispenard Avenue, New Rochelle, NY 10801
Residential Income, New Rochelle, NY
Property Size2,700 SF
Lot Size0.12 Acres
Price / SF$240.37
Days on Market32
Property Features for 45 Lispenard Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Basement, Bathroom 2, Bedroom 1, Bedroom 2
Parking features
Garage, On Street, Driveway
Interior features
High Ceilings
Fireplace
1
Basement
Unfinished
Elementary school
Trinity Elementary School
Middle school
Isaac E Young Middle School
High school
New Rochelle High School
Elementary school district
New Rochelle
Middle school district
New Rochelle
High school district
New Rochelle
Directions
Palmer Ave to Stephenson Blvd. to Lyons Pl. to Lispenard Ave.
Standard status
Active
APN
1000-000-001-00287-000-0010
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15967
Utilities
Sewer type
Public Sewer
Heating system
Oil
Water source
Public
Building Details
Year built
1912
Number of units
2
Building materials
Aluminum Siding
Architectural style
Colonial
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(914) 967-0059
Listed By:
Grace DiPalermo
(914) 419-1354
Added: Jul 20
Changed: Aug 20
Last Checked: Aug 20 at 7:06PM
MLS# 1031274
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Colonial duplex is configured as two separate apartments, each with two bedrooms and one full bath. The residence provides more than 2,700 square feet of living space, with generously proportioned rooms, high ceilings, pocket doors, stained-glass windows, and original hardwood floors. The second-floor unit includes a living room that connects to a private deck. A legal third floor adds two more rooms, while an attached two-car garage complements the property’s parking and storage options.
The property occupies 0.1183 acres and was built in 1912. Public water and public sewer serve the residence. Shops, parks, restaurants, and Metro-North are located nearby, providing access to neighborhood amenities and regional transportation. Additional features include aluminum siding, oil heat, a fireplace, driveway parking, and on-street parking.
The property occupies 0.1183 acres and was built in 1912. Public water and public sewer serve the residence. Shops, parks, restaurants, and Metro-North are located nearby, providing access to neighborhood amenities and regional transportation. Additional features include aluminum siding, oil heat, a fireplace, driveway parking, and on-street parking.
Key Highlights
- Legal two‑family property with two apartments, each offering 2 bedrooms and 1 full bath
- More than 2,700 square feet of living space
- Legal third floor with 2 additional rooms
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
$52,590
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
8.10%
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%
$1,051,800
$1.1M
Cap Rate 7%
$751,286
$751.3K
Cap Rate 9%
$584,333
$584.3K
Market Conditions
NOI Build-Up for 2,700 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
$80.4K $29.76/SF
− Vacancy
−$5.2K −$1.93/SF
EGI
$75.1K $27.83/SF
− OpEx
−$22.5K −$8.35/SF
NOI
$52.6K $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%
$1,051,800
Cap Rate 7%
$751,286
Cap Rate 9%
$584,333
Alternative Uses
Best Use
Multifamily LT 5
$751.3K
$657.4K – $876.5K
NOI $52,590 @ 7.0% cap · market cap 8.10%
Second Best
Apartment 5plus
$661.6K
$578.9K – $771.8K
NOI $46,310 @ 7.0% cap · market cap 7.14%
Theoretical Best
Retail
$815.6K
$713.6K – $951.5K
NOI $57,090 @ 7.0% cap · market cap 8.80%
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
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 - Legal two-family residence with two-bedroom apartments, period details, and additional third-floor rooms.
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 two‑family property with two apartments, each offering 2 bedrooms and 1 full bath; More than 2,700 square feet of living space; Legal third floor with 2 additional rooms
