Two-Family Duplex With
For Sale
Contact for pricing
926 Lester Avenue, Mamaroneck, NY 10543
Zoned Multi-Family 2-4, the property includes a basement, deck, yard, and enclosed porch.
Property Size2,910 SF
Price / SF$335.05
Days on Market11
Property Features for 926 Lester Avenue
General Information
Standard status
Active
Size
2,910 SF
Class
C
Total Parking Spaces
4
Property subtype
Multifamily
Zoning
Multi-Family 2-4
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$46,800
Financials
Asking Price
$975,000
Cap Rate
4.8%
Gross Income
$69,600
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Amenities
fireplace
eat-in kitchen
in-unit laundry
enclosed porch
deck
yard
full basement
private side entrance
Building Details
Year Built
1960
Buildings
1
Units
2
Tenancy
Multi
Listing Agency:
Compass Greater NY
Listed By:
Lindsay Rothman · License #10401340688
Source:
Crexi
Added: Jul 28
Changed: Aug 5
Last Checked: Aug 5 at 5:22AM
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 Compass Greater NY
Investment Insights
Based on property information with market context.
This legal two-family duplex, built in 1960, provides approximately 2,900 square feet of living space. Each apartment has three bedrooms. The first-floor residence includes 1.5 baths, a fireplaced living room, an eat-in kitchen with in-unit laundry, an enclosed porch, and access to the deck and yard. The upper unit has one bath, a private side entrance, and substantial living space. A full basement and built-in 2-car garage add storage and utility, while an additional approximately 296 square feet may be finished for expanded use.
Located at 926 Lester Avenue in Mamaroneck, the property sits on a dead-end street within walking distance of the Metro-North train station, downtown restaurants, shopping, and Harbor Island Park & Beach. I-95 is also quickly accessible. The property is zoned Multi-Family 2-4.
Located at 926 Lester Avenue in Mamaroneck, the property sits on a dead-end street within walking distance of the Metro-North train station, downtown restaurants, shopping, and Harbor Island Park & Beach. I-95 is also quickly accessible. The property is zoned Multi-Family 2-4.
Key Highlights
- Legal 2‑family property with 3 bedrooms in each unit
- Approximately 2,900 square feet of living space
- Additional approximately 296 square feet offers finishable space
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
$56,681
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
5.81%
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%
$1,133,620
$1.1M
Cap Rate 7%
$809,729
$809.7K
Cap Rate 9%
$629,789
$629.8K
Market Conditions
NOI Build-Up for 2,910 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
$86.6K $29.76/SF
− Vacancy
−$5.6K −$1.93/SF
EGI
$81.0K $27.83/SF
− OpEx
−$24.3K −$8.35/SF
NOI
$56.7K $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%
$1,133,620
Cap Rate 7%
$809,729
Cap Rate 9%
$629,789
Alternative Uses
Best Use
Multifamily LT 5
$809.7K
$708.5K – $944.7K
NOI $56,681 @ 7.0% cap · market cap 5.81%
Second Best
Apartment 5plus
$713.0K
$623.9K – $831.9K
NOI $49,912 @ 7.0% cap · market cap 5.12%
Theoretical Best
Retail
$879.0K
$769.1K – $1.03M
NOI $61,530 @ 7.0% cap · market cap 6.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
835
Businesses Nearby
Explore this area
Business Placement
Demographics for 10543, NY
21,296
Population
8,141
Households
2.6
Avg Household Size
41
Median Age
57%
College-Educated
89%
High-School Grad
4.3 sq mi
ZIP Area
4,953
Density / Sq Mi
$128,418
Median Household Income
$69,176
Median Earnings
$2,030
Median Rent
$710,000
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?
Duplex - Zoned Multi-Family 2-4, the property includes a basement, deck, yard, and enclosed porch.
Where is this duplex located?
The property is located at 926 Lester Avenue Mamaroneck, NY.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Legal 2‑family property with 3 bedrooms in each unit; Approximately 2,900 square feet of living space; Additional approximately 296 square feet offers finishable space
