Morris Park Two-Family
For Sale
$749,000
Pending
2080 Matthews Ave The, Bronx, NY 10462
Two-family residence in Morris Park with finished basement.
Property Size1,684 SF
Lot Size0.06 Acres
Days on Market274
Property Features for 2080 Matthews Ave The
General Information
Standard status
Pending
Size
1,684 SF
Lot size
0.06 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$7,036
Building Details
Building Size
1,684 SF
Year Built
1925
Units
2
Listing Agency:
(718) 310-8831
Listed By:
Omar Alrobaye
(718) 310-8831
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 24
Last Checked: Aug 26 at 9:32AM
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 Omar Alrobaye
Investment Insights
Based on property information with market context.
This two-family residence, located in Morris Park, features a separate entrance and a finished basement. The detached property offers space and privacy. The first floor includes 3 bedrooms and a full bathroom, while the second floor has 2 bedrooms and a full bathroom. A driveway provides convenience. The property is located in a sought-after New York City neighborhood. The property is zoned R6, which may be of interest to investors.
Key Highlights
- Prime Morris Park location.
- Two separate units: a spacious 3‑bedroom and a comfortable 2‑bedroom, each with full bathrooms.
- Finished basement adds extra living space.
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
$40,892
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
5.46%
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%
$817,840
$817.8K
Cap Rate 7%
$584,171
$584.2K
Cap Rate 9%
$454,356
$454.4K
Market Conditions
NOI Build-Up for 1,684 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
$61.6K $36.60/SF
− Vacancy
−$3.2K −$1.91/SF
EGI
$58.4K $34.69/SF
− OpEx
−$17.5K −$10.41/SF
NOI
$40.9K $24.28/SF
Area
ZIP 10462
Vacancy
5.22%
Lease Rate
$36.60 /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%
$817,840
Cap Rate 7%
$584,171
Cap Rate 9%
$454,356
Alternative Uses
Best Use
Multifamily LT 5
$584.2K
$511.2K – $681.5K
NOI $40,892 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$520.7K
$455.6K – $607.4K
NOI $36,446 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$803.5K
$703.1K – $937.4K
NOI $56,246 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,775
Businesses Nearby
Explore this area
Business Placement
Demographics for 10462, NY
84,655
Population
31,828
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
1.5 sq mi
ZIP Area
56,437
Density / Sq Mi
$63,460
Median Household Income
$42,383
Median Earnings
$1,711
Median Rent
$372,100
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-family residence in Morris Park with finished basement.
Where is this duplex located?
The property is located at 2080 Matthews Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Prime Morris Park location.; Two separate units: a spacious 3‑bedroom and a comfortable 2‑bedroom, each with full bathrooms.; Finished basement adds extra living space.
