2-Unit Duplex With
For Sale
$749,000
2074 Turnbull Avenue, Bronx, NY 10473
Residential, Duplex, Bronx, NY
Property Size1,782 SF
Lot Size0.04 Acres
Price / SF$420.31
Days on Market179
Property Features for 2074 Turnbull Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 3, Bathroom 2, Bathroom 1
Interior features
Stove
Basement
Finished
Subdivision
Unionport
Standard status
Active
Size
1,782 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
5701
Building Details
Year built
1945
Floors in Building
2
Number of units
2
Flooring type
Ceramic, Hardwood
Building materials
Block
Roof type
Flat
Architectural style
Other
Listing Agency:
Metro Realty Professionals
Listed By:
Jian (Carey) Yang
(718) 838-2600
Added: Mar 10
Changed: Sep 4
Last Checked: Sep 4 at 1:06PM
MLS# 499542
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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 two-family duplex contains 1,782 square feet and was built in 1945. The lower-level apartment includes a living room, kitchen, three-quarter bathroom, and access to a large backyard. The upper residence spans two floors, with a living room, formal dining room, kitchen, half bathroom, master bedroom, and two additional bedrooms.
The property includes parking and is situated on a 0.0413-acre lot. R4 zoning is reported. Interior features include a stove, with hardwood and ceramic flooring throughout portions of the home. The lower-level unit is occupied under a month-to-month lease.
The property includes parking and is situated on a 0.0413-acre lot. R4 zoning is reported. Interior features include a stove, with hardwood and ceramic flooring throughout portions of the home. The lower-level unit is occupied under a month-to-month lease.
Key Highlights
- Two‑family duplex with 1,782 square feet
- Lower‑level apartment includes backyard access
- Upper unit has a two‑floor layout with three bedrooms
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
$45,266
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
6.04%
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%
$905,320
$905.3K
Cap Rate 7%
$646,657
$646.7K
Cap Rate 9%
$502,956
$503.0K
Market Conditions
NOI Build-Up for 1,782 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
$68.4K $38.40/SF
− Vacancy
−$3.8K −$2.11/SF
EGI
$64.7K $36.29/SF
− OpEx
−$19.4K −$10.89/SF
NOI
$45.3K $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%
$905,320
Cap Rate 7%
$646,657
Cap Rate 9%
$502,956
Alternative Uses
Best Use
Multifamily LT 5
$646.7K
$565.8K – $754.4K
NOI $45,266 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$585.6K
$512.4K – $683.2K
NOI $40,992 @ 7.0% cap · market cap 5.47%
Theoretical Best
Warehouse
$1.23M
$1.08M – $1.44M
NOI $86,436 @ 7.0% cap · market cap 11.54%
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
1,659
Businesses Nearby
Explore this area
Business Placement
Demographics for 10473, NY
62,692
Population
23,234
Households
2.7
Avg Household Size
38
Median Age
24%
College-Educated
75%
High-School Grad
2.1 sq mi
ZIP Area
29,853
Density / Sq Mi
$50,609
Median Household Income
$40,049
Median Earnings
$1,131
Median Rent
$586,800
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 residence with a lower-level apartment, upper duplex layout, backyard access, and R4 zoning.
Where is this duplex located?
The property is located at 2074 Turnbull Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Two‑family duplex with 1,782 square feet; Lower‑level apartment includes backyard access; Upper unit has a two‑floor layout with three bedrooms
