Two-Unit Duplex with Separate
For Sale
$749,222
5 Highland Ave, Suffern, NY 10901
Two separate meters and a vacant lower unit offer flexibility for occupancy or leasing.
Property Size2,928 SF
Price / SF$255.88
Days on Market9
Property Features for 5 Highland Ave
General Information
Standard status
Active
Size
2,928 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 4BR/2BA, 1 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
1955
Buildings
1
Listing Agency:
Mark Seiden Real Estate Team
Listed By:
Mark J. Seiden · License #10311200147
(914) 362-1006
Source:
Searchhomesinlongisland
Added: Sep 17
Changed: Sep 24
Last Checked: Sep 24 at 2:34PM
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 Mark Seiden Real Estate Team
Investment Insights
Based on property information with market context.
Built in 1955, this 2,928-square-foot duplex contains two apartments. The upper unit has four bedrooms, two full bathrooms, a living room, kitchen, separate family room, and hardwood floors. The lower apartment offers three bedrooms, two full bathrooms, living and dining rooms, and a full kitchen; it is vacant and ready for occupancy. Two separate meters serve the property.
The property includes a level rear lot and a driveway, with additional on-street parking. Town destinations, shopping, dining, and transportation are within walking distance. The property is in a flood zone.
The property includes a level rear lot and a driveway, with additional on-street parking. Town destinations, shopping, dining, and transportation are within walking distance. The property is in a flood zone.
Key Highlights
- 2,928‑square‑foot duplex built in 1955
- Upper unit: 4 bedrooms, 2 full bathrooms, living room, kitchen, separate family room, and hardwood floors
- Lower unit: 3 bedrooms, 2 full bathrooms, living room, dining room, and full kitchen
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
$51,742
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
6.91%
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%
$1,034,840
$1.0M
Cap Rate 7%
$739,171
$739.2K
Cap Rate 9%
$574,911
$574.9K
Market Conditions
NOI Build-Up for 2,928 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
$79.1K $27.00/SF
− Vacancy
−$5.1K −$1.76/SF
EGI
$73.9K $25.25/SF
− OpEx
−$22.2K −$7.57/SF
NOI
$51.7K $17.67/SF
Area
Rockland County, NY
Vacancy
6.50%
Lease Rate
$27.00 /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%
$1,034,840
Cap Rate 7%
$739,171
Cap Rate 9%
$574,911
Alternative Uses
Best Use
Multifamily LT 5
$739.2K
$646.8K – $862.4K
NOI $51,742 @ 7.0% cap · market cap 6.91%
Second Best
Apartment 5plus
$685.5K
$599.8K – $799.7K
NOI $47,984 @ 7.0% cap · market cap 6.40%
Theoretical Best
Specialty Retail
$1.94M
$1.69M – $2.26M
NOI $135,515 @ 7.0% cap · market cap 18.09%
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
1,076
Businesses Nearby
Explore this area
Business Placement
Demographics for 10901, NY
25,145
Population
9,674
Households
2.6
Avg Household Size
42
Median Age
48%
College-Educated
90%
High-School Grad
23.5 sq mi
ZIP Area
1,070
Density / Sq Mi
$114,651
Median Household Income
$59,561
Median Earnings
$1,746
Median Rent
$490,700
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 - Two separate meters and a vacant lower unit offer flexibility for occupancy or leasing.
Where is this duplex located?
The property is located at 5 Highland Ave Suffern, NY.
What is the asking price?
The asking price for this property is $749,222.
What are key features of this property?
This property features: 2,928‑square‑foot duplex built in 1955; Upper unit: 4 bedrooms, 2 full bathrooms, living room, kitchen, separate family room, and hardwood floors; Lower unit: 3 bedrooms, 2 full bathrooms, living room, dining room, and full kitchen
