Spacious Multi-Family
For Sale
$1,100,000
Pending
5 S 15th Ave, Mount Vernon, NY 10550
Expansive 3-family home near transportation and amenities.
Property Size3,336 SF
Lot Size0.12 Acres
Days on Market168
Property Features for 5 S 15th Ave
General Information
Standard status
Pending
Size
3,336 SF
Lot size
0.12 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$13,750
Building Details
Building Size
3,336 SF
Year Built
1906
Units
4
Listing Agency:
Keller Williams Realty NYC Group
(646) 851-6760
Listed By:
KerryAnn Lawson
(646) 851-6760
Source:
Elliman
Added: Mar 10
Changed: Aug 16
Last Checked: Aug 23 at 9:53AM
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 Keller Williams Realty NYC Group
Investment Insights
Based on property information with market context.
Located in Mount Vernon, near the Bronx border, this property is a three-family home suitable for investors or multi-generational families. The property features two three-bedroom apartments and one two-bedroom unit, along with a finished full basement. The house is a legal three-family dwelling with four units and was built in 1906. A private backyard is included, along with a garage and a driveway with space for up to ten cars. The property is conveniently located near the Bee-Line bus, the #2 train, Metro-North, highways, schools, hospitals, and shopping districts.
Key Highlights
- Expansive 3‑family home ideal for investors or multi‑generational families
- Includes two 3‑bedroom apartments and one 2‑bedroom unit, plus a full finished basement
- Private backyard and garage included
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
$64,978
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
5.91%
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%
$1,299,560
$1.3M
Cap Rate 7%
$928,257
$928.3K
Cap Rate 9%
$721,978
$722.0K
Market Conditions
NOI Build-Up for 3,336 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
$99.3K $29.76/SF
− Vacancy
−$6.5K −$1.93/SF
EGI
$92.8K $27.83/SF
− OpEx
−$27.8K −$8.35/SF
NOI
$65.0K $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%
$1,299,560
Cap Rate 7%
$928,257
Cap Rate 9%
$721,978
Alternative Uses
Best Use
Multifamily LT 5
$928.3K
$812.2K – $1.08M
NOI $64,978 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$817.4K
$715.2K – $953.6K
NOI $57,218 @ 7.0% cap · market cap 5.20%
Theoretical Best
Retail
$1.01M
$881.7K – $1.18M
NOI $70,538 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,189
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Expansive 3-family home near transportation and amenities.
Where is this triplex located?
The property is located at 5 S 15th Ave Mount Vernon, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Expansive 3‑family home ideal for investors or multi‑generational families; Includes two 3‑bedroom apartments and one 2‑bedroom unit, plus a full finished basement; Private backyard and garage included
