Renovated Three-Story
New
For Sale
$1,179,000
1024 E 226th Street, Bronx, NY 10466
Residential Income, Bronx, NY
Property Size2,200 SF
Lot Size0.06 Acres
Price / SF$535.91
Days on Market4
Property Features for 1024 E 226th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Basement, Bedroom 5, Bedroom 1, Bedroom 2, Bedroom 7, Bedroom 8, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 6
Parking features
Driveway
Interior features
First Floor Bedroom, First Floor Full Bath, Chefs Kitchen, Granite Counters, Recessed Lighting, Washer/Dryer Hookup
Basement
Finished, Full, Walk-Out Access
Elementary school
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Middle school
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High school
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Elementary school district
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Middle school district
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High school district
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Standard status
Active
APN
04872-0055
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6666
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Energy Star Qualified Equipment (Heating)
Cooling system
ENERGY STAR Qualified Equipment, Central Air
Water source
Public
Building Details
Year built
1940
Number of units
2
Building materials
Frame
Listing Agency:
Keystone Realty USA Corp
(631) 261-2800
Listed By:
Gabriel Kashi
(347) 419-5268
Added: Sep 16
Changed: Sep 17
Last Checked: Sep 19 at 8:06PM
MLS# 1051785
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This detached three-story brick duplex in Bronx offers over 2,200 square feet of living space on a 0.0626-acre lot. The property includes multiple bedroom configurations, open living and dining areas, renovated kitchens with granite counters and stainless steel appliances, and tiled bathrooms. Interior improvements include wide oak flooring, recessed lighting, updated doors and moldings, new electrical and plumbing systems, forced-air heating, and energy-efficient split-unit central air. A first-floor bedroom and full bath add flexibility, while washer/dryer hookups are also provided.
The property has a wide driveway and access to public water and public sewer. It is positioned near Laconia Avenue, Paulding Avenue, East 222nd Street, and Bronxwood Avenue, with schools, shopping centers, restaurants, cafes, parks, and public transportation in the surrounding area.
The property has a wide driveway and access to public water and public sewer. It is positioned near Laconia Avenue, Paulding Avenue, East 222nd Street, and Bronxwood Avenue, with schools, shopping centers, restaurants, cafes, parks, and public transportation in the surrounding area.
Key Highlights
- Over 2,200/sq ft of living space on a 0.0626‑acre lot
- Detached three‑story brick construction built in 1940
- Renovated kitchens with granite counters and stainless steel appliances
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
$55,884
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
4.74%
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%
$1,117,680
$1.1M
Cap Rate 7%
$798,343
$798.3K
Cap Rate 9%
$620,933
$620.9K
Market Conditions
NOI Build-Up for 2,200 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
$84.5K $38.40/SF
− Vacancy
−$4.6K −$2.11/SF
EGI
$79.8K $36.29/SF
− OpEx
−$24.0K −$10.89/SF
NOI
$55.9K $25.40/SF
Area
Bronx, NY
Vacancy
5.50%
Lease Rate
$38.40 /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%
$1,117,680
Cap Rate 7%
$798,343
Cap Rate 9%
$620,933
Alternative Uses
Best Use
Multifamily LT 5
$798.3K
$698.6K – $931.4K
NOI $55,884 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$723.0K
$632.6K – $843.5K
NOI $50,608 @ 7.0% cap · market cap 4.29%
Theoretical Best
Warehouse
$1.52M
$1.33M – $1.78M
NOI $106,711 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,500
Businesses Nearby
Explore this area
Business Placement
Demographics for 10466, NY
70,420
Population
26,303
Households
2.7
Avg Household Size
38
Median Age
26%
College-Educated
81%
High-School Grad
2.0 sq mi
ZIP Area
35,210
Density / Sq Mi
$66,328
Median Household Income
$44,053
Median Earnings
$1,528
Median Rent
$605,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Detached brick property with updated interiors, driveway parking, and separate living areas across three levels.
Where is this duplex located?
The property is located at 1024 E 226th Street Bronx, NY.
What is the asking price?
The asking price for this property is $1,179,000.
What are key features of this property?
This property features: Over 2,200/sq ft of living space on a 0.0626‑acre lot; Detached three‑story brick construction built in 1940; Renovated kitchens with granite counters and stainless steel appliances
