Restored Limestone
For Sale
$2,299,000
578 W 183rd St, New York, NY 10033
Two-family layout combines a ground-floor one-bedroom apartment with an upper-level owner’s triplex and private landscaped outdoor space.
Property Size3,120 SF
Days on Market78
Property Features for 578 W 183rd St
General Information
Standard status
Active
Size
3,120 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,864
Amenities
private landscaped backyard
fireplaces
laundry
Building Details
Building Size
3,120 SF
Year Built
1901
Year Renovated
2013
Buildings
1
Stories
4
Units
2
Construction
limestone
Listing Agency:
(917) 612-9933
Listed By:
Patricia M Gustina
(917) 612-9933
Source:
Elliman
Added: Jun 15
Changed: Aug 31
Last Checked: Aug 31 at 3:58AM
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 Patricia M Gustina
Investment Insights
Based on property information with market context.
This limestone townhouse is configured as a two-family residence, pairing a ground-floor one-bedroom apartment with one and a half baths, laundry, and direct access to a private landscaped backyard. The apartment is complemented by an open basement suitable for storage or use as a workshop, gym, or studio. The upper residence extends across three levels and includes four bedrooms, two full bathrooms, fireplaces in each bedroom, a parlor floor with living and dining areas, and a large kitchen. A dedicated laundry room occupies the top floor.
Original details include pocket doors, plaster foyer designs, Victorian architectural elements, high ceilings, large windows, and a limestone façade. The property was restored in 2013, with updated electrical and plumbing systems, separate split breaker panels on each floor, maple-inlaid hardwood flooring on the parlor level, a hot water tank that is 2 years old, and a gas boiler approximately 10 years old.
Located near Yeshiva University, the townhouse is close to Fort Tryon Park, The Cloisters, Hudson River bicycling trails, and the redeveloped George Washington Bridge Bus Station retail center. The A express train, 1 train, and M4, M5, and M98 bus lines serve the area.
Original details include pocket doors, plaster foyer designs, Victorian architectural elements, high ceilings, large windows, and a limestone façade. The property was restored in 2013, with updated electrical and plumbing systems, separate split breaker panels on each floor, maple-inlaid hardwood flooring on the parlor level, a hot water tank that is 2 years old, and a gas boiler approximately 10 years old.
Located near Yeshiva University, the townhouse is close to Fort Tryon Park, The Cloisters, Hudson River bicycling trails, and the redeveloped George Washington Bridge Bus Station retail center. The A express train, 1 train, and M4, M5, and M98 bus lines serve the area.
Key Highlights
- Two‑family townhouse with a ground‑floor one‑bedroom apartment and upper‑level owner’s triplex
- Private landscaped backyard with direct access from the ground‑floor apartment
- Upper residence includes 4 bedrooms, 2 full bathrooms, and fireplaces in each bedroom
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
$105,592
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
4.59%
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%
$2,111,840
$2.1M
Cap Rate 7%
$1,508,457
$1.5M
Cap Rate 9%
$1,173,244
$1.2M
Market Conditions
NOI Build-Up for 3,120 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
$159.1K $51.00/SF
− Vacancy
−$8.3K −$2.65/SF
EGI
$150.8K $48.35/SF
− OpEx
−$45.3K −$14.50/SF
NOI
$105.6K $33.84/SF
Area
New York, NY
Vacancy
5.20%
Lease Rate
$51.00 /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%
$2,111,840
Cap Rate 7%
$1,508,457
Cap Rate 9%
$1,173,244
Alternative Uses
Best Use
Multifamily LT 5
$1.51M
$1.32M – $1.76M
NOI $105,592 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$1.39M
$1.22M – $1.63M
NOI $97,616 @ 7.0% cap · market cap 4.25%
Theoretical Best
Specialty Retail
$7.77M
$6.80M – $9.06M
NOI $543,629 @ 7.0% cap · market cap 23.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
7,361
Businesses Nearby
Explore this area
Business Placement
Demographics for 10033, NY
50,085
Population
21,338
Households
2.3
Avg Household Size
39
Median Age
41%
College-Educated
77%
High-School Grad
0.6 sq mi
ZIP Area
83,475
Density / Sq Mi
$75,585
Median Household Income
$41,655
Median Earnings
$1,742
Median Rent
$709,100
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?
Duplex - Two-family layout combines a ground-floor one-bedroom apartment with an upper-level owner’s triplex and private landscaped outdoor space.
Where is this duplex located?
The property is located at 578 W 183rd St New York, NY.
What is the asking price?
The asking price for this property is $2,299,000.
What are key features of this property?
This property features: Two‑family townhouse with a ground‑floor one‑bedroom apartment and upper‑level owner’s triplex; Private landscaped backyard with direct access from the ground‑floor apartment; Upper residence includes 4 bedrooms, 2 full bathrooms, and fireplaces in each bedroom
