Building Details

Building Size 4,818 SF

Year Built 1950

Units 3

Listing Agency: DeMarsh Properties Inc. Show Phone

Listed By: Carla DeMarsh Show Phone

Source: Alexandermadisonhomes

Added: Jul 23 Changed: Sep 8 Last Checked: Sep 8 at 5:36AM

Report an Issue

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 DeMarsh Properties Inc.

Investment Insights

Based on property information with market context.

Move-in ready three-family home offering a live-and-earn setup or a turnkey residential income configuration. The top floor features a 3-bedroom, 2-bath unit with a private patio and yard, hardwood floors, central A/C, and spacious rooms. The first floor includes two side-by-side units: one with 1 bedroom and 1 bath, and the other with 2 bedrooms and 1 bath.

Each unit has private washer/dryer hookups and separate utility metering, including water, with tenant-paid utilities. The property also includes five private parking spaces.

Located in the Ardsley School District, the home is commuter-friendly near major highways and within walking distance to shops and restaurants. Walk Score is listed as 49 (car-dependent), with a Bike Score of 19 (somewhat bikeable).

Key Highlights

• Move‑in ready three‑family home (built 1950) in the Ardsley School District
• Top‑floor unit: 3BR/2BA with a private patio, yard space, hardwood floors, and central A/C
• First‑floor layout features two side‑by‑side units: 1BR/1BA and 2BR/1BA

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

$93,845

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

6.71%

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%

$1,876,900 $1.9M

Cap Rate 7%

$1,340,643 $1.3M

Cap Rate 9%

$1,042,722 $1.0M

Market Conditions

NOI Build-Up for 4,818 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

$143.4K $29.76/SF

− Vacancy

−$9.3K −$1.93/SF

EGI

$134.1K $27.83/SF

− OpEx

−$40.2K −$8.35/SF

NOI

$93.8K $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%

$1,876,900

Cap Rate 7%

$1,340,643

Cap Rate 9%

$1,042,722

Alternative Uses

Best Use

Multifamily LT 5

$1.34M

$1.17M – $1.56M (±1% cap)

NOI $93,845 @ 7.0% cap · market cap 6.71%

Second Best

Apartment 5plus

$1.18M

$1.03M – $1.38M (±1% cap)

NOI $82,637 @ 7.0% cap · market cap 5.91%

Theoretical Best

Retail

$1.46M

$1.27M – $1.70M (±1% cap)

NOI $101,874 @ 7.0% cap · market cap 7.28%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Triplexes

Suggested Use

Top Pick Law Firm Electrical Service (Bike/Boat/Book/etc) Store Parking Lot & Garage Auto Parts Store Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

750

Businesses Nearby

Explore this area Business Placement

Demographics for 10502, NY

6,261

Population

2,002

Households

3.1

Avg Household Size

43

Median Age

77%

College-Educated

96%

High-School Grad

2.1 sq mi

ZIP Area

2,981

Density / Sq Mi

$250,001

Median Household Income

$113,925

Median Earnings

$3,501

Median Rent

$819,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Triplex - Three fully separate units with private outdoor space, separate utility meters, and five parking spaces.

Where is this triplex located?

The property is located at 609 Saw Mill River Road Ardsley, NY.

What is the asking price?

The asking price for this property is $1,399,000.

What are key features of this property?

This property features: Move‑in ready three‑family home (built 1950) in the Ardsley School District; Top‑floor unit: 3BR/2BA with a private patio, yard space, hardwood floors, and central A/C; First‑floor layout features two side‑by‑side units: 1BR/1BA and 2BR/1BA