Duplex with Detached Garage and
For Sale
$1,300,000
1158 Leland Avenue, Bronx, NY 10472
Duplex home with 3 bedrooms per floor, a finished 2-bedroom basement, and a 9-car driveway.
Property Size1,792 SF
Days on Market62
Property Features for 1158 Leland Avenue
General Information
Standard status
Active
Size
1,792 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$7,218
Building Details
Building Size
1,792 SF
Year Built
1935
Buildings
2
Tenancy
Multi
Listing Agency:
Metro Star Realty LLC
(718) 794-2327
Listed By:
Ameer M. Moflehi · License #10401398315
Source:
Serhant
Added: Jun 22
Changed: Aug 21
Last Checked: Aug 21 at 10:20AM
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 Metro Star Realty LLC
Investment Insights
Based on property information with market context.
This duplex offers a functional two-family layout with 3 bedrooms on each floor. The home also includes a fully finished 2-bedroom basement, providing additional living space for flexible use. Outside, there is a 9-car driveway and a detached garage, supporting convenient off-street parking.
Set on an oversized lot, the property includes potential to build another home, with the buyer to verify feasibility. The location is described as convenient to shopping centers, schools, clinics, and public transportation.
Built in 1935, the home is positioned as a straightforward option for buyers seeking a larger, multi-level duplex with both added basement space and on-site parking capacity.
Set on an oversized lot, the property includes potential to build another home, with the buyer to verify feasibility. The location is described as convenient to shopping centers, schools, clinics, and public transportation.
Built in 1935, the home is positioned as a straightforward option for buyers seeking a larger, multi-level duplex with both added basement space and on-site parking capacity.
Key Highlights
- 3 bedrooms on each floor in the duplex layout
- Fully finished 2‑bedroom basement
- 9‑car driveway for off‑street parking
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
$45,520
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
3.50%
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%
$910,400
$910.4K
Cap Rate 7%
$650,286
$650.3K
Cap Rate 9%
$505,778
$505.8K
Market Conditions
NOI Build-Up for 1,792 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
$68.8K $38.40/SF
− Vacancy
−$3.8K −$2.11/SF
EGI
$65.0K $36.29/SF
− OpEx
−$19.5K −$10.89/SF
NOI
$45.5K $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%
$910,400
Cap Rate 7%
$650,286
Cap Rate 9%
$505,778
Alternative Uses
Best Use
Multifamily LT 5
$650.3K
$569.0K – $758.7K
NOI $45,520 @ 7.0% cap · market cap 3.50%
Second Best
Apartment 5plus
$588.9K
$515.3K – $687.1K
NOI $41,223 @ 7.0% cap · market cap 3.17%
Theoretical Best
Warehouse
$1.24M
$1.09M – $1.45M
NOI $86,921 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,143
Businesses Nearby
Explore this area
Business Placement
Demographics for 10472, NY
72,245
Population
24,259
Households
3
Avg Household Size
34
Median Age
14%
College-Educated
69%
High-School Grad
1.1 sq mi
ZIP Area
65,677
Density / Sq Mi
$43,125
Median Household Income
$35,180
Median Earnings
$1,445
Median Rent
$632,500
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 - Duplex home with 3 bedrooms per floor, a finished 2-bedroom basement, and a 9-car driveway.
Where is this duplex located?
The property is located at 1158 Leland Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 3 bedrooms on each floor in the duplex layout; Fully finished 2‑bedroom basement; 9‑car driveway for off‑street parking
