Two-Family Home Grand Concourse
For Sale
$959,000
Pending
110 E 198th St The, Bronx, NY 10468
Two-family residence with development potential in the Grand Concourse area.
Property Size3,150 SF
Lot Size0.06 Acres
Days on Market274
Property Features for 110 E 198th St The
General Information
Standard status
Pending
Size
3,150 SF
Lot size
0.06 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$5,312
Building Details
Building Size
3,150 SF
Year Built
1920
Units
3
Listing Agency:
Century 21 Galvez
(646) 303-2850
Listed By:
Ana E. Matos · License #10301215834
(646) 303-2850
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 14
Last Checked: Aug 28 at 1:31PM
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 Century 21 Galvez
Investment Insights
Based on property information with market context.
Located in the Grand Concourse area, this two-story residence offers a blend of space and potential. The property is a two-family listing. The second story features a two-bedroom apartment with a living room, dining area, kitchen, and one full bathroom. The first floor includes a front porch, 3.5 bedrooms, a living room, a dining room, a kitchen, and a bathroom. This property has R8 zoning, presenting opportunities for developers and investors. The heating fuel is oil above ground.
Key Highlights
- Two‑family residence offering separate living spaces.
- R8 Zoning: Potential for development or expansion (consult architect).
- Spacious two‑bedroom apartment on the second floor.
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
$80,015
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
8.34%
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%
$1,600,300
$1.6M
Cap Rate 7%
$1,143,071
$1.1M
Cap Rate 9%
$889,056
$889.1K
Market Conditions
NOI Build-Up for 3,150 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
$121.0K $38.40/SF
− Vacancy
−$6.7K −$2.11/SF
EGI
$114.3K $36.29/SF
− OpEx
−$34.3K −$10.89/SF
NOI
$80.0K $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%
$1,600,300
Cap Rate 7%
$1,143,071
Cap Rate 9%
$889,056
Alternative Uses
Best Use
Multifamily LT 5
$1.14M
$1.00M – $1.33M
NOI $80,015 @ 7.0% cap · market cap 8.34%
Second Best
Apartment 5plus
$1.04M
$905.8K – $1.21M
NOI $72,461 @ 7.0% cap · market cap 7.56%
Theoretical Best
Warehouse
$2.18M
$1.91M – $2.55M
NOI $152,791 @ 7.0% cap · market cap 15.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,441
Businesses Nearby
Explore this area
Business Placement
Demographics for 10468, NY
78,238
Population
29,553
Households
2.6
Avg Household Size
35
Median Age
16%
College-Educated
72%
High-School Grad
1.0 sq mi
ZIP Area
78,238
Density / Sq Mi
$46,624
Median Household Income
$29,914
Median Earnings
$1,594
Median Rent
$259,400
Median Home Value
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 - Two-family residence with development potential in the Grand Concourse area.
Where is this duplex located?
The property is located at 110 E 198th St The Bronx, NY.
What is the asking price?
The asking price for this property is $959,000.
What are key features of this property?
This property features: Two‑family residence offering separate living spaces.; R8 Zoning: Potential for development or expansion (consult architect).; Spacious two‑bedroom apartment on the second floor.
