Three-Structure Multifamily
For Sale
$1,199,000
Pending
69 N Grant Ave 65, Congers, NY 10920
Three separate residences include private parking, storage areas, and varied living configurations across the parcel.
Property Size2,864 SF
Days on Market109
Property Features for 69 N Grant Ave 65
General Information
Standard status
Pending
Size
2,864 SF
Total Parking Spaces
5
Property subtype
Investment
Units
Unit Mix
1 x 3BR/1.5BA, 2 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$22,433
Building Details
Building Size
2,864 SF
Year Built
1920
Buildings
3
Units
3
Listing Agency:
(845) 304-4140
Listed By:
Margo Bohlin
(845) 304-4140
Source:
Elliman
Added: May 15
Changed: Aug 30
Last Checked: Aug 30 at 1:23PM
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 Margo Bohlin
Investment Insights
Based on property information with market context.
This multifamily property in Congers, NY includes three separate buildings on one parcel. The main Colonial residence offers 3 bedrooms, 1.5 baths, a living room, dining room, eat-in kitchen, side porch/den, basement storage, and washer/dryer. A second dwelling is a 2-bedroom, 1-bath ranch with a living room, eat-in kitchen, basement storage, central air, whole-house generator, deck, and washer/dryer. The third residence is a 2-bedroom, 1-bath apartment above a three-car garage, with a living room, eat-in kitchen, and access to garage storage and laundry facilities.
Each building has private parking. Two additional garage bays are used for storage, providing additional enclosed space associated with the property. The improvements date to 1920 and combine multiple residential layouts with garage and storage areas on a single parcel.
Each building has private parking. Two additional garage bays are used for storage, providing additional enclosed space associated with the property. The improvements date to 1920 and combine multiple residential layouts with garage and storage areas on a single parcel.
Key Highlights
- Three separate buildings on one parcel, each with private parking
- Main Colonial residence with 3 bedrooms and 1.5 baths
- Second dwelling is a 2‑bedroom, 1‑bath ranch with central air, generator, and deck
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
$46,936
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
3.91%
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%
$938,720
$938.7K
Cap Rate 7%
$670,514
$670.5K
Cap Rate 9%
$521,511
$521.5K
Market Conditions
NOI Build-Up for 2,864 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
$91.1K $31.80/SF
− Vacancy
−$5.7K −$2.00/SF
EGI
$85.3K $29.80/SF
− OpEx
−$38.4K −$13.41/SF
NOI
$46.9K $16.39/SF
Area
Rockland County, NY
Vacancy
6.30%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$938,720
Cap Rate 7%
$670,514
Cap Rate 9%
$521,511
Alternative Uses
Best Use
Apartment 5plus
$670.5K
$586.7K – $782.3K
NOI $46,936 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.89M
$1.66M – $2.21M
NOI $132,553 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
327
Businesses Nearby
Explore this area
Business Placement
Demographics for 10920, NY
8,727
Population
2,940
Households
3
Avg Household Size
44
Median Age
52%
College-Educated
94%
High-School Grad
4.5 sq mi
ZIP Area
1,939
Density / Sq Mi
$143,672
Median Household Income
$57,973
Median Earnings
$2,061
Median Rent
$533,800
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?
Multifamily property - Three separate residences include private parking, storage areas, and varied living configurations across the parcel.
Where is this multifamily property located?
The property is located at 69 N Grant Ave 65 Congers, NY.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Three separate buildings on one parcel, each with private parking; Main Colonial residence with 3 bedrooms and 1.5 baths; Second dwelling is a 2‑bedroom, 1‑bath ranch with central air, generator, and deck
