Renovated Triplex with Backyard
New
For Sale
Contact for pricing
54 Herriot Street, Yonkers, NY 10701
Three two-bedroom apartments have separate utilities and meters, with first-floor backyard access and an unfinished basement.
Property Size2,073 SF
Days on Market7
Property Features for 54 Herriot Street
General Information
Standard status
Active
Size
2,073 SF
Property subtype
Triplex
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 2BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,837
Building Details
Building Size
2,073 SF
Year Built
1909
Buildings
1
Listing Agency:
Keller Williams Realty Group
(914) 713-3270
Listed By:
Noemi Pena
Source:
Totallywestchester
Added: Aug 17
Changed: Aug 23
Last Checked: Aug 22 at 10:55AM
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 Group
Investment Insights
Based on property information with market context.
Built in 1909, this renovated triplex contains three two-bedroom apartments, each served by its own utilities and meters. The first-floor residence connects directly to the backyard, while the full unfinished basement provides additional interior space. The property is being offered as-is.
The building is located near Downtown Yonkers and the Getty Square Historic District, with restaurants, shopping, parks, the waterfront, and public transportation nearby. Yonkers Station is approximately a half-mile away and provides express Metro-North service to Grand Central Terminal in approximately 30 minutes. Ludlow Station is also nearby.
The three-unit configuration supports separate apartment occupancy, while the basement and backyard add functional features to the property’s physical layout.
The building is located near Downtown Yonkers and the Getty Square Historic District, with restaurants, shopping, parks, the waterfront, and public transportation nearby. Yonkers Station is approximately a half-mile away and provides express Metro-North service to Grand Central Terminal in approximately 30 minutes. Ludlow Station is also nearby.
The three-unit configuration supports separate apartment occupancy, while the basement and backyard add functional features to the property’s physical layout.
Key Highlights
- Three two‑bedroom apartments in a renovated triplex
- Separate utilities and meters for each apartment
- Full unfinished basement
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
$50,162
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
6.69%
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%
$1,003,240
$1.0M
Cap Rate 7%
$716,600
$716.6K
Cap Rate 9%
$557,356
$557.4K
Market Conditions
NOI Build-Up for 2,073 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
$78.4K $37.80/SF
− Vacancy
−$6.7K −$3.23/SF
EGI
$71.7K $34.57/SF
− OpEx
−$21.5K −$10.37/SF
NOI
$50.2K $24.20/SF
Area
Yonkers, NY
Vacancy
8.55%
Lease Rate
$37.80 /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%
$1,003,240
Cap Rate 7%
$716,600
Cap Rate 9%
$557,356
Alternative Uses
Best Use
Multifamily LT 5
$716.6K
$627.0K – $836.0K
NOI $50,162 @ 7.0% cap · market cap 6.69%
Second Best
Apartment 5plus
$658.1K
$575.8K – $767.8K
NOI $46,067 @ 7.0% cap · market cap 6.14%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,763
Businesses Nearby
Explore this area
Business Placement
Demographics for 10701, NY
68,704
Population
28,252
Households
2.4
Avg Household Size
36
Median Age
30%
College-Educated
79%
High-School Grad
4.4 sq mi
ZIP Area
15,615
Density / Sq Mi
$63,310
Median Household Income
$42,702
Median Earnings
$1,694
Median Rent
$412,900
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 - Three two-bedroom apartments have separate utilities and meters, with first-floor backyard access and an unfinished basement.
Where is this triplex located?
The property is located at 54 Herriot Street Yonkers, NY.
What is the asking price?
The asking price for this property is $749,999.
What are key features of this property?
This property features: Three two‑bedroom apartments in a renovated triplex; Separate utilities and meters for each apartment; Full unfinished basement
