Attached Two-Family
For Sale
$699,900
1098 Midland Avenue, Bronxville, NY 10708
Legal two-family property with a three-bedroom duplex and separate street-level one-bedroom apartment.
Property Size2,070 SF
Price / SF$338.12
Days on Market15
Property Features for 1098 Midland Avenue
General Information
Standard status
Active
Size
2,070 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$13,251
Building Details
Building Size
2,070 SF
Year Built
1973
Buildings
1
Tenancy
Multi
Listing Agency:
RE/MAX Prime Properties
Listed By:
Julia Ricciuti · License #4.91E+13
(914) 391-6994
Source:
Shawmetro
Added: Aug 31
Changed: Sep 12
Last Checked: Sep 14 at 9:37AM
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 RE/MAX Prime Properties
Investment Insights
Based on property information with market context.
This legal attached two-family property contains 2,070 square feet and was built in 1973. The primary residence is arranged as a three-bedroom duplex with generous living space, while the separate street-level apartment offers one bedroom and step-free access. The configuration supports owner occupancy with an additional residential unit, or use by multiple generations of a household.
The property carries a Bronxville Post Office address at 1098 Midland Avenue in Bronxville, New York. Fleetwood and Bronxville train stations are both within walking distance, providing rail access for Manhattan commuters. Shopping, dining, parks, transportation, and major roadways are also identified nearby.
The property carries a Bronxville Post Office address at 1098 Midland Avenue in Bronxville, New York. Fleetwood and Bronxville train stations are both within walking distance, providing rail access for Manhattan commuters. Shopping, dining, parks, transportation, and major roadways are also identified nearby.
Key Highlights
- Legal attached two‑family property with 2,070 square feet
- Primary residence configured as a three‑bedroom duplex
- Separate street‑level one‑bedroom apartment with step‑free access
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
$50,089
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
7.16%
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%
$1,001,780
$1.0M
Cap Rate 7%
$715,557
$715.6K
Cap Rate 9%
$556,544
$556.5K
Market Conditions
NOI Build-Up for 2,070 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
$78.2K $37.80/SF
− Vacancy
−$6.7K −$3.23/SF
EGI
$71.6K $34.57/SF
− OpEx
−$21.5K −$10.37/SF
NOI
$50.1K $24.20/SF
Area
Yonkers, NY
Vacancy
8.55%
Lease Rate
$37.80 /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%
$1,001,780
Cap Rate 7%
$715,557
Cap Rate 9%
$556,544
Alternative Uses
Best Use
Multifamily LT 5
$715.6K
$626.1K – $834.8K
NOI $50,089 @ 7.0% cap · market cap 7.16%
Second Best
Apartment 5plus
$657.1K
$575.0K – $766.7K
NOI $46,000 @ 7.0% cap · market cap 6.57%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
888
Businesses Nearby
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Business Placement
Demographics for 10708, NY
22,299
Population
10,004
Households
2.2
Avg Household Size
45
Median Age
65%
College-Educated
95%
High-School Grad
2.9 sq mi
ZIP Area
7,689
Density / Sq Mi
$121,107
Median Household Income
$80,556
Median Earnings
$2,161
Median Rent
$496,800
Median Home Value
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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 - Legal two-family property with a three-bedroom duplex and separate street-level one-bedroom apartment.
Where is this duplex located?
The property is located at 1098 Midland Avenue Bronxville, NY.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Legal attached two‑family property with 2,070 square feet; Primary residence configured as a three‑bedroom duplex; Separate street‑level one‑bedroom apartment with step‑free access
