Vacant Two-Unit Residential Income
460 South 2nd Avenue Mount Vernon, NY 10550
460 South 2nd Avenue, Mount Vernon, NY, 10550
$689,999
For Sale
$689,999
Vacant two-unit multifamily home on a double lot with a large backyard and multiple off-street parking spaces.
Property Size2,619 SF
Price / SF$263.46
Days on Market42
Property Features for 460 South 2nd Avenue
General Information
- Standard status
- Active
- Size
- 2,619 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 1935
Listing agency
eXp Realty
(888) 276-0630
Listed by
Manuel Galan
(888) 276-0630
Source
Compass
Added: Jun 11 Updated: Jul 21 at 5:25PM Checked: Jul 21 at 5:25PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This vacant multifamily duplex features two residential units and additional flexible living space. The first-floor unit offers one bedroom and one bathroom with a living-dining area and granite countertops. The upper layout includes a loft-style four-bedroom, two-bath configuration with an open-concept kitchen and dining area, stainless steel appliances, and expansive granite counters. A basement level includes an exposed-brick character wall and a bonus bedroom suitable for a variety of uses.
Set on a double lot (lots 13 and 14), the property includes a large backyard. Off-street parking is available via a 4-car+ driveway. The home is maintained and will be delivered fully vacant.
Overall, the layout supports both owner-occupant and income-focused use, with separate unit living plus an additional bonus bedroom in the basement.
Set on a double lot (lots 13 and 14), the property includes a large backyard. Off-street parking is available via a 4-car+ driveway. The home is maintained and will be delivered fully vacant.
Overall, the layout supports both owner-occupant and income-focused use, with separate unit living plus an additional bonus bedroom in the basement.
Key Highlights
- 5‑bedroom, 2‑bath two‑unit multifamily home built in 1935
- First‑floor unit features 1 bedroom and 1 bathroom, plus living‑dining area with granite countertops
- Loft‑style 4‑bedroom duplex includes an open‑concept kitchen/dining area with stainless steel appliances and expansive granite counters
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $77.9k | $29.76 |
| − Vacancy | −$5.1k | −$1.93 |
| EGI | $72.9k | $27.83 |
| − OpEx | −$21.9k | −$8.35 |
| NOI | $51.0k | $19.48 |
2,619 SF · lease $29.76/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$728.8K
$637.7K – $850.2K
NOI $51,013 @ 7.0% cap · market cap 7.39%
Second Best
Apartment 5plus
$641.7K
$561.5K – $748.7K
NOI $44,920 @ 7.0% cap · market cap 6.51%
Theoretical Best
Retail
$791.1K
$692.2K – $923.0K
NOI $55,377 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Vacant two-unit multifamily home on a double lot with a large backyard and multiple off-street parking spaces.
Where is this duplex located?
The property is located at 460 South 2nd Avenue Mount Vernon, NY.
What is the asking price?
The asking price for this property is $689,999.
What are key features of this property?
This property features: 5‑bedroom, 2‑bath two‑unit multifamily home built in 1935; First‑floor unit features 1 bedroom and 1 bathroom, plus living‑dining area with granite countertops; Loft‑style 4‑bedroom duplex includes an open‑concept kitchen/dining area with stainless steel appliances and expansive granite counters
