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    Two-Family Residential Income Property Title is generated by Realmo AI

    556 Westchester Avenue, Portchester, NY 10573

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    For Sale
    $899,000

    MULTI_FAMILY - Port Chester, NY

    Lot size:
    0.17 Acres
    Added:
    Jun 1, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 3 at 10:06 pm

    Property Features for 556 Westchester Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Basement, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 4, Bedroom 3
    Parking
    6
    Parking features
    Alley, Driveway, Off Street
    Interior features
    First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen, In-Law Floorplan, Washer/Dryer Hookup
    Basement
    Full, Finished, Walk-Out Access
    Standard status
    Active
    APN
    4805-135-000-00083-001-0043-0000000
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    17320

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Wall/Window Unit(s), Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1958
    Number of units
    2
    Flooring type
    Hardwood
    Building materials
    Vinyl Siding

    We can help!

    Listing Contact
    Cosmo Iadanza

    Listing agent Cosmo Iadanza

    Listing office E Realty International Corp 3907 Prince St Ste 4D, Flushing, NY

    Listing date Jun 1, 2026

    MLS# 1008396 Listing URL

    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.

    HighLights

    • Two‑family home built in 1958 with a walk‑out finished basement previously used as an in‑law suite
    • Current rental income over $5,200/month, with rents described as below market value
    • Flexible lower‑level setup: finished walk‑out basement includes a bath and bonus room (currently vacant)
    • In‑unit laundry: washer/dryer hookups in each unit, with interior features including first‑floor bedroom and first‑floor full bath
    • Hardwood flooring throughout and forced‑air heating; wall/window and window A/C units
    • Off‑street parking via driveway and alley with space for up to 6 vehicles; public water and public sewer

    Overview

    This two-family residential property at 556 Westchester Avenue, Port Chester, NY, offers two separate living units with in-unit washer and dryer and hardwood floors throughout. The second-floor unit also includes carpeting for added sound insulation. The lower level features a finished, walk-out basement that is currently vacant and has previously been used as an in-law suite, with a rec room, a bathroom, and a bonus room for flexible use.

    The property sits on a landscaped lot and includes a shed for additional storage. Off-street parking is available for up to six vehicles. Public remarks note the home is on a quiet, tree-lined street and is minutes to Rye Ridge Shopping Center, downtown Port Chester, Rye, Greenwich, Metro-North, and major routes including I-287 and I-95.

    For tenants or buyers, the layout supports multiple living arrangements by combining two main residential units with substantial finished lower-level space. The walk-out basement versatility can be used to support an extended living setup, while the in-unit laundry and finished interior improvements help the units function as self-contained residences. Off-street parking and on-site storage further support day-to-day usability for occupants.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portchester
    County
    Westchester
    State
    New York
    Longitude
    -73.681014
    Latitude
    41.005348

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    FAQs

    What type of property is this?
    Duplex - Two fully equipped units plus a finished, walk-out basement provide flexibility for income or owner-occupancy.
    Where is this duplex located?
    The property is located at 556 Westchester Avenue Portchester, NY.
    What is the asking price?
    The asking price for this property is $899,000.
    What are key features of this property?
    This property features: Two‑family home built in 1958 with a walk‑out finished basement previously used as an in‑law suite; Current rental income over $5,200/month, with rents described as below market value; Flexible lower‑level setup: finished walk‑out basement includes a bath and bonus room (currently vacant)
    (917) 345-5504
    We can help!
    Listing Contact
    Cosmo Iadanza
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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