Brick Duplex with Separate
New
For Sale
$1,199,999
1118 Neill Avenue, Bronx, NY 10461
Residential Income, Bronx, NY
Property Size2,601 SF
Lot Size0.06 Acres
Price / SF$461.36
Days on Market3
Property Features for 1118 Neill Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 5, Bathroom 3
Subdivision
Morris Park
Standard status
Active
Size
2,601 SF
Lot size
0.06 Acres
Amenities
laundry room
Building Details
Floors in Building
2
Building materials
Brick
Listing Agency:
PELWAY REALTY
(718) 547-5650
Listed By:
Bill Rizopoulos
(917) 841-5462
Added: Sep 21
Changed: Sep 22
Last Checked: Sep 23 at 5:06AM
MLS# 11994399
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 brick duplex at 1118 Neill Avenue includes a five-bedroom, three-bathroom arrangement across the main residence and a separate lower-level apartment. The primary living area includes a living room, dining room, kitchen, full bathroom, two first-floor bedrooms, two additional bedrooms upstairs, a half bathroom, closet space, and attic storage. The lower unit has its own entrance, living area, kitchen, one bedroom, and full bathroom.
Additional features include a dedicated laundry room, utility room, one-car garage, front driveway, and a rear driveway leading to the yard with room for multiple vehicles. The property sits on a 0.0574-acre lot and contains 2601 square feet. Nearby access includes bus service, local shopping, and major roadways.
Additional features include a dedicated laundry room, utility room, one-car garage, front driveway, and a rear driveway leading to the yard with room for multiple vehicles. The property sits on a 0.0574-acre lot and contains 2601 square feet. Nearby access includes bus service, local shopping, and major roadways.
Key Highlights
- Separate‑entry lower‑level apartment with one bedroom, living area, kitchen, and full bathroom
- Five‑bedroom, three‑bathroom configuration across the main residence and lower unit
- 2601 square feet on a 0.0574‑acre lot
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
$66,070
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
5.51%
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%
$1,321,400
$1.3M
Cap Rate 7%
$943,857
$943.9K
Cap Rate 9%
$734,111
$734.1K
Market Conditions
NOI Build-Up for 2,601 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
$99.9K $38.40/SF
− Vacancy
−$5.5K −$2.11/SF
EGI
$94.4K $36.29/SF
− OpEx
−$28.3K −$10.89/SF
NOI
$66.1K $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%
$1,321,400
Cap Rate 7%
$943,857
Cap Rate 9%
$734,111
Alternative Uses
Best Use
Multifamily LT 5
$943.9K
$825.9K – $1.10M
NOI $66,070 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$854.7K
$747.9K – $997.2K
NOI $59,832 @ 7.0% cap · market cap 4.99%
Theoretical Best
Warehouse
$1.80M
$1.58M – $2.10M
NOI $126,162 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,454
Businesses Nearby
Explore this area
Business Placement
Demographics for 10461, NY
54,901
Population
20,418
Households
2.7
Avg Household Size
38
Median Age
27%
College-Educated
82%
High-School Grad
2.4 sq mi
ZIP Area
22,875
Density / Sq Mi
$65,023
Median Household Income
$45,445
Median Earnings
$1,741
Median Rent
$640,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - The residence includes a dedicated laundry room, utility room, and several off-street parking options.
Where is this duplex located?
The property is located at 1118 Neill Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,199,999.
What are key features of this property?
This property features: Separate‑entry lower‑level apartment with one bedroom, living area, kitchen, and full bathroom; Five‑bedroom, three‑bathroom configuration across the main residence and lower unit; 2601 square feet on a 0.0574‑acre lot
