Lakefront Duplex with Private
For Sale
$599,000
636 Jersey Avenue, Greenwood Lake, NY 10925
Two separately metered units offer lake views, individual entrances, and flexible owner-use or rental arrangements.
Property Size1,470 SF
Days on Market53
Property Features for 636 Jersey Avenue
General Information
Standard status
Active
Size
1,470 SF
Total Parking Spaces
1
Property subtype
Residential Income
Units
Unit Mix
2 x 1BR/1.5BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,433
Amenities
boat dock
boat ramp
private decks
water views
Building Details
Building Size
1,470 SF
Year Built
1960
Units
2
Listing Agency:
HomeCoin.com
(888) 400-2513
Listed By:
Jonathan Minerick · License #01523060
(888) 400-2513
Source:
Callexitfirst
Added: Jul 8
Changed: Aug 28
Last Checked: Aug 28 at 11:31AM
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 HomeCoin.com
Investment Insights
Based on property information with market context.
Built in 1960, this Greenwood Lake duplex contains two fully equipped units, each with 1 bedroom and 1.5 baths. Both residences feature mountain and open-water views, individual entrances, separate utility meters, and private decks. The configuration supports an owner-occupant arrangement, leasing both units, or short-term rental use as described for the property.
The waterfront includes a 57-foot-deep concrete bulkhead with docking for 10 + boats and a launch ramp suited to waverunners or kayaks. The property is close to an NYC bus stop, the village of Greenwood Lake, and the town beach. Lake access and two independent living spaces combine residential use with rental flexibility.
The waterfront includes a 57-foot-deep concrete bulkhead with docking for 10 + boats and a launch ramp suited to waverunners or kayaks. The property is close to an NYC bus stop, the village of Greenwood Lake, and the town beach. Lake access and two independent living spaces combine residential use with rental flexibility.
Key Highlights
- Waterfront duplex on Greenwood Lake with mountain and open‑water views
- Two fully equipped 1 bedroom, 1.5 bath units
- 57ft deep water concrete bulkhead with docking for 10 + boats
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
$29,218
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
4.88%
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%
$584,360
$584.4K
Cap Rate 7%
$417,400
$417.4K
Cap Rate 9%
$324,644
$324.6K
Market Conditions
NOI Build-Up for 1,470 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
$43.2K $29.40/SF
− Vacancy
−$1.5K −$1.01/SF
EGI
$41.7K $28.39/SF
− OpEx
−$12.5K −$8.52/SF
NOI
$29.2K $19.88/SF
Area
Orange County, NY
Vacancy
3.42%
Lease Rate
$29.40 /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%
$584,360
Cap Rate 7%
$417,400
Cap Rate 9%
$324,644
Alternative Uses
Best Use
Multifamily LT 5
$417.4K
$365.2K – $487.0K
NOI $29,218 @ 7.0% cap · market cap 4.88%
Second Best
Apartment 5plus
$392.8K
$343.7K – $458.3K
NOI $27,497 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$497.9K
$435.6K – $580.9K
NOI $34,851 @ 7.0% cap · market cap 5.82%
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
252
Businesses Nearby
Explore this area
Business Placement
Demographics for 10925, NY
4,341
Population
2,220
Households
2
Avg Household Size
48
Median Age
35%
College-Educated
92%
High-School Grad
9.2 sq mi
ZIP Area
472
Density / Sq Mi
$89,313
Median Household Income
$42,193
Median Earnings
$1,620
Median Rent
$342,600
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 separately metered units offer lake views, individual entrances, and flexible owner-use or rental arrangements.
Where is this duplex located?
The property is located at 636 Jersey Avenue Greenwood Lake, NY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Waterfront duplex on Greenwood Lake with mountain and open‑water views; Two fully equipped 1 bedroom, 1.5 bath units; 57ft deep water concrete bulkhead with docking for 10 + boats
