Brick Triplex With
For Sale
$1,150,000
97 Van Cortlandt Pk Avenue, Yonkers, NY 10701
Legal three-family property with Hudson River views, private patio, basement access, and commuter connections.
Property Size2,774 SF
Price / SF$414.56
Days on Market12
Property Features for 97 Van Cortlandt Pk Avenue
General Information
Standard status
Active
Size
2,774 SF
Total Parking Spaces
6
Property subtype
Triplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$16,324
Amenities
central air conditioning
washer/dryer in unit
patio
walk-out basement
Building Details
Building Size
2,774 SF
Year Built
1930
Buildings
1
Construction
brick
Listing Agency:
Coldwell Banker Realty
(914) 693-5476
Listed By:
Barbara O'Connell
Source:
Shawmetro
Added: Jul 31
Changed: Aug 4
Last Checked: Aug 11 at 12:30PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This legal brick triplex, built in 1930, offers three residential units with distinct layouts. The owner’s residence contains three bedrooms, two full baths, a kitchen and dining area, central air conditioning, and an in-unit washer and dryer. The second apartment also provides three bedrooms and two baths, while the entry-level unit has two bedrooms and one bath. Both upper units include non-working fireplaces and kitchen views toward the Hudson River and Palisades.
Exterior features include an expansive patio and access to a walk-out basement. Parking consists of four spaces plus two tandem spaces. The property is near the Saw Mill and Henry Hudson Parkways and Metro-North Station, with a stated 35-minute commute to NYC.
Exterior features include an expansive patio and access to a walk-out basement. Parking consists of four spaces plus two tandem spaces. The property is near the Saw Mill and Henry Hudson Parkways and Metro-North Station, with a stated 35-minute commute to NYC.
Key Highlights
- Legal brick 3‑family property built in 1930
- Owner’s unit includes 3 bedrooms, 2 full baths, CAC, and washer/dryer
- Second unit offers 3 bedrooms and 2 baths; entry‑level unit has 2 bedrooms and 1 bath
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
$67,124
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
5.84%
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%
$1,342,480
$1.3M
Cap Rate 7%
$958,914
$958.9K
Cap Rate 9%
$745,822
$745.8K
Market Conditions
NOI Build-Up for 2,774 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
$104.9K $37.80/SF
− Vacancy
−$9.0K −$3.23/SF
EGI
$95.9K $34.57/SF
− OpEx
−$28.8K −$10.37/SF
NOI
$67.1K $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%
$1,342,480
Cap Rate 7%
$958,914
Cap Rate 9%
$745,822
Alternative Uses
Best Use
Multifamily LT 5
$958.9K
$839.1K – $1.12M
NOI $67,124 @ 7.0% cap · market cap 5.84%
Second Best
Apartment 5plus
$880.6K
$770.6K – $1.03M
NOI $61,644 @ 7.0% cap · market cap 5.36%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,453
Businesses Nearby
Explore this area
Business Placement
Demographics for 10701, NY
68,704
Population
28,252
Households
2.4
Avg Household Size
36
Median Age
30%
College-Educated
79%
High-School Grad
4.4 sq mi
ZIP Area
15,615
Density / Sq Mi
$63,310
Median Household Income
$42,702
Median Earnings
$1,694
Median Rent
$412,900
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?
Triplex - Legal three-family property with Hudson River views, private patio, basement access, and commuter connections.
Where is this triplex located?
The property is located at 97 Van Cortlandt Pk Avenue Yonkers, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Legal brick 3‑family property built in 1930; Owner’s unit includes 3 bedrooms, 2 full baths, CAC, and washer/dryer; Second unit offers 3 bedrooms and 2 baths; entry‑level unit has 2 bedrooms and 1 bath
