Renovated Two-Unit Duplex
For Sale
$650,000
931 Diven Street, Peekskill, NY 10566
Two-family configuration includes an expansive multi-bedroom residence and a separate apartment, with occupants already in place.
Property Size2,100 SF
Days on Market51
Property Features for 931 Diven Street
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 4+BR duplex-style, 1 x 1BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$13,736
Building Details
Building Size
2,100 SF
Year Built
1905
Year Renovated
2017
Units
2
Listing Agency:
Houlihan Lawrence Inc.
(347) 234-0771
Listed By:
Kim Gunness · License #KEY50442
(347) 234-0771
Source:
Mydreamhomerealty
Added: Jul 10
Changed: Aug 28
Last Checked: Aug 29 at 10:19AM
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 Lawrence Inc.
Investment Insights
Based on property information with market context.
This duplex property contains a spacious 4+ bedroom residence arranged in a duplex-style layout along with a separate 1-bedroom apartment. The building dates to 1905 and underwent a complete renovation in 2017, combining its older construction with updated interiors. Tenants are currently in place, and the occupants pay all utilities, including heat and electric.
The property is located at 931 Diven Street in Peekskill, near Metro-North, downtown restaurants and shopping, waterfront attractions, and major parkways. Its two-unit configuration provides distinct residential spaces within a single multifamily asset.
The property is located at 931 Diven Street in Peekskill, near Metro-North, downtown restaurants and shopping, waterfront attractions, and major parkways. Its two-unit configuration provides distinct residential spaces within a single multifamily asset.
Key Highlights
- Two‑unit duplex configuration with a 4+ bedroom residence and separate 1‑bedroom apartment
- Originally built in 1905 and completely renovated in 2017
- Tenants currently occupy the property
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
$40,904
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
6.29%
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%
$818,080
$818.1K
Cap Rate 7%
$584,343
$584.3K
Cap Rate 9%
$454,489
$454.5K
Market Conditions
NOI Build-Up for 2,100 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
$62.5K $29.76/SF
− Vacancy
−$4.1K −$1.93/SF
EGI
$58.4K $27.83/SF
− OpEx
−$17.5K −$8.35/SF
NOI
$40.9K $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%
$818,080
Cap Rate 7%
$584,343
Cap Rate 9%
$454,489
Alternative Uses
Best Use
Multifamily LT 5
$584.3K
$511.3K – $681.7K
NOI $40,904 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$514.6K
$450.2K – $600.3K
NOI $36,019 @ 7.0% cap · market cap 5.54%
Theoretical Best
Retail
$634.3K
$555.0K – $740.1K
NOI $44,403 @ 7.0% cap · market cap 6.83%
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
1,368
Businesses Nearby
Explore this area
Business Placement
Demographics for 10566, NY
25,384
Population
11,752
Households
2.2
Avg Household Size
40
Median Age
38%
College-Educated
86%
High-School Grad
4.3 sq mi
ZIP Area
5,903
Density / Sq Mi
$91,042
Median Household Income
$49,844
Median Earnings
$1,895
Median Rent
$376,800
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?
Duplex - Two-family configuration includes an expansive multi-bedroom residence and a separate apartment, with occupants already in place.
Where is this duplex located?
The property is located at 931 Diven Street Peekskill, NY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two‑unit duplex configuration with a 4+ bedroom residence and separate 1‑bedroom apartment; Originally built in 1905 and completely renovated in 2017; Tenants currently occupy the property
