New Rochelle Multifamily Investment
For Sale
Contact for pricing
59 Crescent Avenue, New Rochelle, NY 10801
Three-family property in urban New Rochelle near amenities.
Property Size1,744 SF
Price / SF$331.02
Days on Market136
Property Features for 59 Crescent Avenue
General Information
Standard status
Active
Size
1,744 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$6,954
Building Details
Building Size
1,744 SF
Year Built
1885
Listing Agency:
REALHome Services & Solutions
(855) 882-1314
Listed By:
Christopher A. Rose · License #10311208824
Source:
Totallywestchester
Added: Apr 10
Changed: Aug 23
Last Checked: Aug 22 at 7:44AM
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 REALHome Services & Solutions
Investment Insights
Based on property information with market context.
This legal three-family property is located in New Rochelle. The pre-war multifamily property offers approximately 1,744 square feet of living space. It is situated in a well-established urban neighborhood with close proximity to transportation, schools, parks, and neighborhood shopping. The area shows strong market activity with increasing values and typical marketing times under three months for competitively priced properties. This property presents an excellent opportunity for investors seeking long-term rental income or value-add potential. The property is being sold as-is. The location has a bike score of 64, indicating it is bikeable. The walk score is 97, designating it as a walker's paradise, and the transit score is 58, indicating good transit options.
Key Highlights
- Walker's Paradise: Enjoy exceptional walkability with a Walk Score of 97.
- Strong Investment Potential: Benefit from increasing property values and quick marketing times.
- Multifamily Property: Ideal for long‑term rental income or value‑add opportunities.
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
$33,969
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
5.88%
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%
$679,380
$679.4K
Cap Rate 7%
$485,271
$485.3K
Cap Rate 9%
$377,433
$377.4K
Market Conditions
NOI Build-Up for 1,744 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
$51.9K $29.76/SF
− Vacancy
−$3.4K −$1.93/SF
EGI
$48.5K $27.83/SF
− OpEx
−$14.6K −$8.35/SF
NOI
$34.0K $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%
$679,380
Cap Rate 7%
$485,271
Cap Rate 9%
$377,433
Alternative Uses
Best Use
Multifamily LT 5
$485.3K
$424.6K – $566.2K
NOI $33,969 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$427.3K
$373.9K – $498.6K
NOI $29,913 @ 7.0% cap · market cap 5.18%
Theoretical Best
Retail
$526.8K
$461.0K – $614.6K
NOI $36,876 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,799
Businesses Nearby
Explore this area
Business Placement
Demographics for 10801, NY
42,949
Population
16,912
Households
2.5
Avg Household Size
37
Median Age
43%
College-Educated
85%
High-School Grad
3.4 sq mi
ZIP Area
12,632
Density / Sq Mi
$83,534
Median Household Income
$50,274
Median Earnings
$1,742
Median Rent
$555,000
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-family property in urban New Rochelle near amenities.
Where is this triplex located?
The property is located at 59 Crescent Avenue New Rochelle, NY.
What is the asking price?
The asking price for this property is $577,300.
What are key features of this property?
This property features: Walker's Paradise: Enjoy exceptional walkability with a Walk Score of 97.; Strong Investment Potential: Benefit from increasing property values and quick marketing times.; Multifamily Property: Ideal for long‑term rental income or value‑add opportunities.
