42 Alder Street

Yonkers, NY 10701

"CASHFLOW CORNER" - Tucked along a quiet residential stretch on a corner lot in the heart of Yonkers, 42 Alder Street presents a compelling opportunity where strong numbers meet thoughtful renovation. Just moments from Metro-North stations, major parkways and a seamless commute into Manhattan, this bright and beautifully updated two-family duplex offers the rare balance of lifestyle flexibility and investment performance. With New York City within easy reach and the vibrancy of downtown Yonkers - its waterfront, restaurants, shops and neighborhood conveniences just minutes away, the location speaks as confidently as the property itself. Inside, both units (3 bed/1 bath) have been fully renovated in 2025, offering clean, modern finishes designed for today’s tenants and discerning owner-occupants alike. Gorgeous flooring runs throughout, complemented by updated kitchens with stainless steel appliances and baths that feel fresh, polished, and turnkey. New windows, backed by a lifetime warranty, invite in abundant natural light, while a new roof and energy-efficient boiler enhance long-term durability and operational efficiency. Each unit is equipped with mini-split systems providing efficient heating and cooling, adding another layer of comfort and cost control. Three separate meters serve the property, with the second-floor tenant paying their own gas and electric, while the owner’s electric expense for the first floor remains remarkably low - approximately $90 per month. Solar panels, currently leased at just $70 per month, offer optional continuity for the next owner or the flexibility to remove them at closing. For investors, the numbers are as attractive as the finishes. The property generates $81,300 in gross annual income, with both residential units and the three-car garage fully rented. The garage provides additional steady cash flow and opens the door to continued use for tenant parking or expanded storage revenue. With low operating expenses and an approximate 7.2% cap rate, this is a stabilized turn-key asset positioned for dependable returns. For an owner-occupant, the opportunity becomes even more dynamic, live in one beautifully renovated unit while the second unit and garage income help offset expenses and build equity. An unfinished basement offers yet another layer of potential, with the possibility to convert into an additional two-bedroom unit as well as washer/dryer hookups, further enhancing income and value over time. Outside, a fenced yard completes the offering, creating a practical and attractive setting for tenants and residents alike. 42 Alder Street is more than a two-family home, it is a strategic acquisition in a thriving market. Whether you are a seasoned investor seeking solid returns or a first-time buyer looking to anchor your future with rental income, this Yonkers property delivers both immediate performance and long-term upside in one cohesive, move-in-ready package. Both units are 3 bed, 1 bath units.

Listing courtesy of Corcoran Baer & McIntosh ryan@baerhomes.com


Based on information submitted to the MLS GRID as of 2026-03-04 03:22 PM EST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.