Two-Family Duplex
New
For Sale
$499,900
1129 E Tremont Avenue, Bronx, NY 10460
Two residential units with separate electric and gas metering support flexible occupancy arrangements.
Property Size1,628 SF
Price / SF$307.06
Days on Market7
Property Features for 1129 E Tremont Avenue
General Information
Standard status
Active
Size
1,628 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$3,367
Building Details
Building Size
1,628 SF
Year Built
1910
Listing Agency:
Douglas Elliman Real Estate
(631) 877-8989
Listed By:
Richard B. Drury · License #10301218239
Source:
Serhant
Added: Aug 9
Changed: Aug 14
Last Checked: Aug 15 at 12:51PM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
Built in 1910, this two-family duplex property contains approximately 1,628 square feet of building area. The configuration provides four bedrooms and two bathrooms overall, with each residence arranged as a two-bedroom, one-bath unit with its own living room and kitchen.
Utility service is separately metered across the property, including three electric meters and two gas meters. The layout and infrastructure provide a clearly defined setup for a buyer evaluating a small multifamily asset.
Utility service is separately metered across the property, including three electric meters and two gas meters. The layout and infrastructure provide a clearly defined setup for a buyer evaluating a small multifamily asset.
Key Highlights
- Two‑family property with approximately 1,628 square feet of building area
- Four bedrooms and two bathrooms overall
- Each unit has 2 bedrooms, 1 bathroom, a living room, and a kitchen
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
$41,354
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
8.27%
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%
$827,080
$827.1K
Cap Rate 7%
$590,771
$590.8K
Cap Rate 9%
$459,489
$459.5K
Market Conditions
NOI Build-Up for 1,628 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
$62.5K $38.40/SF
− Vacancy
−$3.4K −$2.11/SF
EGI
$59.1K $36.29/SF
− OpEx
−$17.7K −$10.89/SF
NOI
$41.4K $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%
$827,080
Cap Rate 7%
$590,771
Cap Rate 9%
$459,489
Alternative Uses
Best Use
Multifamily LT 5
$590.8K
$516.9K – $689.2K
NOI $41,354 @ 7.0% cap · market cap 8.27%
Second Best
Apartment 5plus
$535.0K
$468.1K – $624.2K
NOI $37,450 @ 7.0% cap · market cap 7.49%
Theoretical Best
Warehouse
$1.13M
$987.1K – $1.32M
NOI $78,966 @ 7.0% cap · market cap 15.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,984
Businesses Nearby
Explore this area
Business Placement
Demographics for 10460, NY
62,625
Population
24,085
Households
2.6
Avg Household Size
34
Median Age
15%
College-Educated
71%
High-School Grad
1.5 sq mi
ZIP Area
41,750
Density / Sq Mi
$36,067
Median Household Income
$31,283
Median Earnings
$1,332
Median Rent
$589,300
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 residential units with separate electric and gas metering support flexible occupancy arrangements.
Where is this duplex located?
The property is located at 1129 E Tremont Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two‑family property with approximately 1,628 square feet of building area; Four bedrooms and two bathrooms overall; Each unit has 2 bedrooms, 1 bathroom, a living room, and a kitchen
