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        <h1 _ngcontent-serverapp-c434="">$1,600,000</h1>
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        <h2 _ngcontent-serverapp-c434="">$86,216.58</h2>
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        <h2 _ngcontent-serverapp-c434="">$94,803.42</h2>
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 1. For Sale
 2. Multifamily
 3. NY
 4. Peekskill
 5. 338-342 Simpson Place
    


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Street View
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Gallery 7




338-342 SIMPSON PLACE

8 Unit Residential Building In Super Hot Peekskill !!
Flyer

Submit LOI


LISTING CONTACTS

 * Paul Moulins Pro
   License: NY 10301216988
   Phone Number: Sign Up or Log In to see phone number
   View my profile
 * Steve Cid
   License: 30CI0802959
   Phone Number: Sign Up or Log In to see phone number
   View my profile
   


ACTIVE

Asking Price: $3,200,000
Learn more
 * Property


 * DUE DILIGENCE

   
   

Address 


338 SIMPSON PL, PEEKSKILL, NY 10566

Show on Map
Date Added
Feb 22, 2022
Days on Market
21 days
Time Since Last Update
18 days


DETAILS

Property TypeMultifamily
SubtypeApartment Building
Cap Rate5.66%
Occupancy100%
NOI$181,020
Units8
Year Built1928


MARKETING DESCRIPTION

In Super Hot Peekskill!

Very attractive fully leased multifamily only two blocks from Metro North and
gorgeous Peekskill waterfront. Tremendous upside. All apartments on one year
leases; all under market. Can add $19,000 to NOI plus four two bedroom units
w/DR can be converted to 3BR raising rents further. Owner also willing to sell a
large 1⁄3 acre adjacent building lot with river views. $300K


Owner retiring and moving South.  








INVESTMENT HIGHLIGHTS

 * Fully Leased
 * Private Garage 
 * Rentable storage Area
 * Strong Revenue Upside 


VALUATION CALCULATOR

Purchase Price
Net Operating Income
Down Payment

50
Interest Rate
Term (years)
Loan Amount



$1,600,000

Annual Debt Service



$86,216.58

$7,184.72 /MO

Annual Cash Flow



$94,803.42

$7,900.28 /MO


VALUATION METRICS


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2.1
DSCR

5.66 %
Cap Rate

5.93 %
ROI



HISTORY

Property HistoryTax History
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Date Event Document Price Price/SF Sold By Sold To



























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INSIGHTS BY CREXI INTELLIGENCE


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1 mile
3 miles
5 miles


Current Demographics

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Population
528k
0%
Compared to 694k in 2016
4%
Compared to 595k in 2019
2016 2016 2017 2017 2018 2018 2019 2019 2020 2020 0 0 200k 200k 400k 400k
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Household Income
$39.6k

Median Income
$8,867
2025 Estimate
3%
Growth Rate
Under $25k Under $25k $100k-$150k $100k-$150k Over $150k Over $150k
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Age Demographics
65

Median Age
49
2025 Estimate
1%
Growth Rate
Under 18 Under 18 18-24 18-24 45-64 45-64 Over 64 Over 64
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Number of Employees
45.1k
Top 5 Employment Categories

Food Prep & Service
Management
Office & Administrative Support
Production
Sales & Related
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Housing Occupancy Ratio
9:1
2:1 predicted by 2025

Occupied
Vacant
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Renter to Homeowner Ratio
10:1
1:1 predicted by 2025

Renters
Homeowner
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The Loan Amount is your Purchase Price minus the Down Payment.
Debt Service is the cash required to pay back the principal and interest of
outstanding debt
Your Cash Flow is the Net Operating Income (NOI) minus the Debt Service.
Debt Service Coverage Ratio (DSCR) is a measure of the cash flow available to
pay
Capitalization Rate (Cap Rate) is calculated by dividing a property's Net
Operating Income by the
Your Return on Investment or cash-on-cash return measures the amount of cash
flow relative to the