Renovated Two-Family
New
For Sale
$1,085,000
681 E 236 Street, Bronx, NY 10466
Residential Income, Bronx, NY
Property Size2,226 SF
Price / SF$487.42
Days on Market4
Property Features for 681 E 236 Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 3, Bathroom 3, Bedroom 5, Bathroom 4, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 6, Bedroom 4, Bedroom 7
Subdivision
East Bronx
Standard status
Active
Size
2,226 SF
Building Details
Floors in Building
2
Listing Agency:
PELWAY REALTY
(718) 547-5650
Listed By:
Bill Rizopoulos
Added: Aug 19
Changed: Aug 21
Last Checked: Aug 22 at 10:06AM
MLS# 11941458
Copyright © 2026 My State 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 renovated two-family residence contains 2226 square feet across two separate homes. The upper residence provides four bedrooms and one bathroom, along with a living room, kitchen, and additional attic space. The first-floor unit includes three bedrooms, 1.5 bathrooms, an open living area, kitchen, and den. A finished basement adds a full bathroom, storage, and a boiler room. Each residence has its own hot water tank and utility meter.
Recent improvements include new windows, updated plumbing, upgraded electrical systems, and hardwood flooring throughout. The property also includes a private driveway with multi-car parking. Located in the Bronx, the home is within walking distance of the 2 and 5 subway lines, Metro-North, express bus service, and local shopping.
Recent improvements include new windows, updated plumbing, upgraded electrical systems, and hardwood flooring throughout. The property also includes a private driveway with multi-car parking. Located in the Bronx, the home is within walking distance of the 2 and 5 subway lines, Metro-North, express bus service, and local shopping.
Key Highlights
- Two‑family property with 2226 square feet
- Upper unit offers 4 bedrooms and 1 bathroom
- First‑floor unit includes 3 bedrooms and 1.5 bathrooms
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
$56,544
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
5.21%
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%
$1,130,880
$1.1M
Cap Rate 7%
$807,771
$807.8K
Cap Rate 9%
$628,267
$628.3K
Market Conditions
NOI Build-Up for 2,226 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
$85.5K $38.40/SF
− Vacancy
−$4.7K −$2.11/SF
EGI
$80.8K $36.29/SF
− OpEx
−$24.2K −$10.89/SF
NOI
$56.5K $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%
$1,130,880
Cap Rate 7%
$807,771
Cap Rate 9%
$628,267
Alternative Uses
Best Use
Multifamily LT 5
$807.8K
$706.8K – $942.4K
NOI $56,544 @ 7.0% cap · market cap 5.21%
Second Best
Apartment 5plus
$731.5K
$640.1K – $853.4K
NOI $51,206 @ 7.0% cap · market cap 4.72%
Theoretical Best
Warehouse
$1.54M
$1.35M – $1.80M
NOI $107,972 @ 7.0% cap · market cap 9.95%
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
3,137
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
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 - Updated two-unit residence with finished basement, separate utilities, and private driveway parking.
Where is this duplex located?
The property is located at 681 E 236 Street Bronx, NY.
What is the asking price?
The asking price for this property is $1,085,000.
What are key features of this property?
This property features: Two‑family property with 2226 square feet; Upper unit offers 4 bedrooms and 1 bathroom; First‑floor unit includes 3 bedrooms and 1.5 bathrooms
