Six-Bedroom Duplex
For Sale
$890,000
1022 E 232nd Street, Bronx, NY 10466
Duplex-style home with two eat-in kitchens and a six-bedroom layout.
Property Size2,925 SF
Price / SF$304.27
Days on Market8
Property Features for 1022 E 232nd Street
General Information
Standard status
Active
Size
2,925 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$8,812
Building Details
Building Size
2,925 SF
Year Built
1998
Listing Agency:
Island Advantage Realty LLC
Listed By:
Todd A. Yovino · License #49YO0956714
(631) 351-6000
Source:
Shawmetro
Added: Sep 15
Changed: Sep 21
Last Checked: Sep 21 at 7:05AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Island Advantage Realty LLC
Investment Insights
Based on property information with market context.
This duplex-style residential property was built in 1998 and offers 2,925 square feet of building area. The layout includes six bedrooms, two full bathrooms, and two eat-in kitchens, providing a configuration suited to separate living areas within the home.
The property is located at 1022 E 232nd Street in the Bronx, New York. Its bedroom count, paired kitchen arrangement, and duplex-style design define the primary physical features of the offering.
The property is located at 1022 E 232nd Street in the Bronx, New York. Its bedroom count, paired kitchen arrangement, and duplex-style design define the primary physical features of the offering.
Key Highlights
- Six‑bedroom duplex‑style home
- 2,925 square feet of building area
- Two full 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
$74,300
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
8.35%
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%
$1,486,000
$1.5M
Cap Rate 7%
$1,061,429
$1.1M
Cap Rate 9%
$825,556
$825.6K
Market Conditions
NOI Build-Up for 2,925 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
$112.3K $38.40/SF
− Vacancy
−$6.2K −$2.11/SF
EGI
$106.1K $36.29/SF
− OpEx
−$31.8K −$10.89/SF
NOI
$74.3K $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%
$1,486,000
Cap Rate 7%
$1,061,429
Cap Rate 9%
$825,556
Alternative Uses
Best Use
Multifamily LT 5
$1.06M
$928.8K – $1.24M
NOI $74,300 @ 7.0% cap · market cap 8.35%
Second Best
Apartment 5plus
$961.2K
$841.1K – $1.12M
NOI $67,286 @ 7.0% cap · market cap 7.56%
Theoretical Best
Warehouse
$2.03M
$1.77M – $2.36M
NOI $141,877 @ 7.0% cap · market cap 15.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,815
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex-style home with two eat-in kitchens and a six-bedroom layout.
Where is this duplex located?
The property is located at 1022 E 232nd Street Bronx, NY.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: Six‑bedroom duplex‑style home; 2,925 square feet of building area; Two full bathrooms
