Two-Family
New
For Sale
$995,000
1027 E 231st Street, Bronx, NY 10466
Two separate three-bedroom residences with contemporary finishes and additional finished basement space.
Property Size2,700 SF
Price / SF$368.52
Days on Market5
Property Features for 1027 E 231st Street
General Information
Standard status
Active
Size
2,700 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,743
Building Details
Building Size
2,700 SF
Year Built
2013
Buildings
1
Listing Agency:
YourHomeSold Guaranteed Realty
Listed By:
Nicole Taliafero
(917) 659-1325
Source:
Shawmetro
Added: Aug 30
Changed: Sep 1
Last Checked: Sep 2 at 9:25PM
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 YourHomeSold Guaranteed Realty
Investment Insights
Based on property information with market context.
This two-family duplex contains 2,700 square feet and was built in 2013. Each residence provides 3 bedrooms and 2 full bathrooms, including a primary bedroom with a private bath, as well as distinct living and dining areas. Interior finishes include hardwood flooring, granite countertops, cabinetry, and stainless-steel appliances.
The finished basement adds flexible space and includes a full bathroom. The separate unit configuration supports an owner-occupant arrangement with one residence used as a rental, or ownership of both units as a residential income property. The property is located at 1027 E 231st Street in the Bronx, New York 10466.
The finished basement adds flexible space and includes a full bathroom. The separate unit configuration supports an owner-occupant arrangement with one residence used as a rental, or ownership of both units as a residential income property. The property is located at 1027 E 231st Street in the Bronx, New York 10466.
Key Highlights
- Two‑family duplex with 2,700 square feet, built in 2013
- Each unit offers 3 bedrooms and 2 full bathrooms
- Primary bedroom in each unit includes a private bathroom
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
$68,584
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
6.89%
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%
$1,371,680
$1.4M
Cap Rate 7%
$979,771
$979.8K
Cap Rate 9%
$762,044
$762.0K
Market Conditions
NOI Build-Up for 2,700 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
$103.7K $38.40/SF
− Vacancy
−$5.7K −$2.11/SF
EGI
$98.0K $36.29/SF
− OpEx
−$29.4K −$10.89/SF
NOI
$68.6K $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%
$1,371,680
Cap Rate 7%
$979,771
Cap Rate 9%
$762,044
Alternative Uses
Best Use
Multifamily LT 5
$979.8K
$857.3K – $1.14M
NOI $68,584 @ 7.0% cap · market cap 6.89%
Second Best
Apartment 5plus
$887.3K
$776.4K – $1.04M
NOI $62,110 @ 7.0% cap · market cap 6.24%
Theoretical Best
Warehouse
$1.87M
$1.64M – $2.18M
NOI $130,964 @ 7.0% cap · market cap 13.16%
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
2,648
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 - Two separate three-bedroom residences with contemporary finishes and additional finished basement space.
Where is this duplex located?
The property is located at 1027 E 231st Street Bronx, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Two‑family duplex with 2,700 square feet, built in 2013; Each unit offers 3 bedrooms and 2 full bathrooms; Primary bedroom in each unit includes a private bathroom
