Duplex with Detached
For Sale
$879,000
63 Wallace Street, Tuckahoe, NY 10707
Two residences feature separate driveways, dedicated parking, and distinct living configurations.
Property Size2,198 SF
Days on Market38
Property Features for 63 Wallace Street
General Information
Standard status
Active
Size
2,198 SF
Total Parking Spaces
8
Property subtype
Residential Income
Units
Unit Mix
1 x 1BR, 1 x 3BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$15,667
Amenities
parking
laundry
solar panels
Building Details
Building Size
2,198 SF
Year Built
1894
Buildings
1
Units
2
Listing Agency:
Houlihan & O'Malley R. E. Serv
(914) 522-8989
Listed By:
Raymond E. Inello
(914) 522-8989
Source:
Mydreamhomerealty
Added: Jul 23
Changed: Aug 29
Last Checked: Aug 25 at 9:26AM
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 Houlihan & O'Malley R. E. Serv
Investment Insights
Based on property information with market context.
This two-family property includes a first-floor one-bedroom unit with an eat-in kitchen, living room, den, bath, storage room, full basement laundry and storage, plus outdoor access. The upper residence spans the second and third floors, with three bedrooms, a renovated bathroom, living and dining rooms, a kitchen, and in-unit laundry. Each unit has its own driveway.
Property improvements include a second driveway, a new roof with gutters and leaders, solar panels, a new sewer line, blue stone front steps, Belgium block curbing, and a new front walkway. A detached two-car garage and additional parking serve the oversized 62.5x100 lot.
The property is located at 63 Wallace Street in the Village of Tuckahoe, within a short walk of Metro-North, shops, restaurants, and parks. Built in 1894, it offers a distinct two-unit layout with separate access and storage.
Property improvements include a second driveway, a new roof with gutters and leaders, solar panels, a new sewer line, blue stone front steps, Belgium block curbing, and a new front walkway. A detached two-car garage and additional parking serve the oversized 62.5x100 lot.
The property is located at 63 Wallace Street in the Village of Tuckahoe, within a short walk of Metro-North, shops, restaurants, and parks. Built in 1894, it offers a distinct two-unit layout with separate access and storage.
Key Highlights
- Two‑family property with separate driveways for each unit
- Upper duplex includes 3 bedrooms, renovated bathroom, and in‑unit laundry
- First‑floor unit includes 1 bedroom, full basement storage/laundry, and outdoor access
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
$53,186
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
6.05%
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%
$1,063,720
$1.1M
Cap Rate 7%
$759,800
$759.8K
Cap Rate 9%
$590,956
$591.0K
Market Conditions
NOI Build-Up for 2,198 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
$83.1K $37.80/SF
− Vacancy
−$7.1K −$3.23/SF
EGI
$76.0K $34.57/SF
− OpEx
−$22.8K −$10.37/SF
NOI
$53.2K $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%
$1,063,720
Cap Rate 7%
$759,800
Cap Rate 9%
$590,956
Alternative Uses
Best Use
Multifamily LT 5
$759.8K
$664.8K – $886.4K
NOI $53,186 @ 7.0% cap · market cap 6.05%
Second Best
Apartment 5plus
$697.8K
$610.6K – $814.1K
NOI $48,844 @ 7.0% cap · market cap 5.56%
Theoretical Best
—
—
same as Best Use
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
1,454
Businesses Nearby
Explore this area
Business Placement
Demographics for 10707, NY
10,553
Population
4,186
Households
2.5
Avg Household Size
42
Median Age
62%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
8,118
Density / Sq Mi
$141,837
Median Household Income
$71,443
Median Earnings
$2,051
Median Rent
$718,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residences feature separate driveways, dedicated parking, and distinct living configurations.
Where is this duplex located?
The property is located at 63 Wallace Street Tuckahoe, NY.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: Two‑family property with separate driveways for each unit; Upper duplex includes 3 bedrooms, renovated bathroom, and in‑unit laundry; First‑floor unit includes 1 bedroom, full basement storage/laundry, and outdoor access
