Two-Family Duplex with
For Sale
$1,288,000
1188 Grant Avenue, Bronx, NY 10456
MULTI_FAMILY - Bronx, NY
Property Size3,312 SF
Lot Size0.06 Acres
Price / SF$388.89
Days on Market104
Property Features for 1188 Grant Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 7, Bathroom 1, Basement, Bathroom 3, Bedroom 6, Bathroom 2, Bedroom 2, Bedroom 1
Parking features
Garage
Basement
Partially Finished, Full
Elementary school
Family School (The)
Middle school
Call Listing Agent
High school
Contact Agent
Elementary school district
Bronx 9
Middle school district
Contact Agent
High school district
Contact Agent
Standard status
Active
APN
02449-0051
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3882
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1935
Number of units
2
Building materials
Brick
Listing Agency:
Mitra Hakimi Realty Group LLC
(718) 268-5588
Listed By:
Etan Hakimi · License #1014541
(718) 268-5588
Added: May 4
Changed: Aug 2
Last Checked: Aug 15 at 2:06PM
MLS# 991532
Copyright © 2026 OneKey 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.
Welcome to 1188 Grant Avenue, a spacious two-family duplex offering approximately 3,312 square feet of living space (23.50x72). Built in 1935 with brick construction, the property is designed with functional, well-proportioned layouts across both units, each providing generously sized living areas and bedrooms. A full basement includes garage space, supporting parking, storage, or future customization.
The home sits on a 0.0633-acre lot and connects to public utilities, including public water and public sewer. The area offers nearby daily conveniences, and commuters benefit from transit access including the IRT Jerome Avenue Line (4 train) and multiple MTA Regional Bus Operations routes. Major roadway connections include the Cross Bronx Expressway, and the neighborhood also features nearby green space such as Claremont Park.
With a versatile two-family layout and additional basement space, this duplex can work for buyers seeking rental income potential while also having the option to live in one unit and use the other for supplemental income.
The home sits on a 0.0633-acre lot and connects to public utilities, including public water and public sewer. The area offers nearby daily conveniences, and commuters benefit from transit access including the IRT Jerome Avenue Line (4 train) and multiple MTA Regional Bus Operations routes. Major roadway connections include the Cross Bronx Expressway, and the neighborhood also features nearby green space such as Claremont Park.
With a versatile two-family layout and additional basement space, this duplex can work for buyers seeking rental income potential while also having the option to live in one unit and use the other for supplemental income.
Key Highlights
- Two‑family duplex with approximately 3,312 SF (23.50x72) of living space
- Brick construction with year built 1935
- Full basement includes garage space for parking or storage
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
$85,911
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
6.67%
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%
$1,718,220
$1.7M
Cap Rate 7%
$1,227,300
$1.2M
Cap Rate 9%
$954,567
$954.6K
Market Conditions
NOI Build-Up for 3,312 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
$127.2K $38.40/SF
− Vacancy
−$4.5K −$1.34/SF
EGI
$122.7K $37.06/SF
− OpEx
−$36.8K −$11.12/SF
NOI
$85.9K $25.94/SF
Area
ZIP 10456
Vacancy
3.50%
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%
$1,718,220
Cap Rate 7%
$1,227,300
Cap Rate 9%
$954,567
Alternative Uses
Best Use
Multifamily LT 5
$1.23M
$1.07M – $1.43M
NOI $85,911 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$1.11M
$968.3K – $1.29M
NOI $77,464 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,324 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5,474
Businesses Nearby
Explore this area
Business Placement
Demographics for 10456, NY
93,412
Population
33,321
Households
2.8
Avg Household Size
34
Median Age
14%
College-Educated
68%
High-School Grad
1.1 sq mi
ZIP Area
84,920
Density / Sq Mi
$35,676
Median Household Income
$30,340
Median Earnings
$1,194
Median Rent
$428,800
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 - Brick two-family duplex with a full basement, garage space, and public water and sewer service.
Where is this duplex located?
The property is located at 1188 Grant Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,288,000.
What are key features of this property?
This property features: Two‑family duplex with approximately 3,312 SF (23.50x72) of living space; Brick construction with year built 1935; Full basement includes garage space for parking or storage
