Duplex With Storefront and
For Sale
$1,695,000
Pending
1240 Castle Hill Avenue, Bronx, NY 10462
Residential Income, Bronx, NY
Property Size4,800 SF
Days on Market151
Property Features for 1240 Castle Hill Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 3, Bedroom 5, Bedroom 6, Bathroom 3, Bedroom 7, Bedroom 1, Bathroom 1, Bedroom 4, Bedroom 8, Bathroom 2, Bedroom 2
Subdivision
East Bronx
Standard status
Pending
Utilities
Heating system
Radiant, Oil
Water source
Public
Building Details
Floors in Building
3
Building materials
Brick
Roof type
Flat
Listing Agency:
COUNTRYWIDE REAL ESTATE INC
(718) 863-2900
Listed By:
Harry Sanichara
(917) 681-0392
Added: May 4
Changed: Sep 14
Last Checked: Oct 1 at 7:06PM
MLS# 11738753
Copyright © 2026 My State 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.
This brick duplex combines a ground-level commercial storefront with two residential apartments above. The store measures 1,200 square feet and connects to a full 1,200-square-foot basement. Each upper-level apartment includes four bedrooms and one full bath, creating a total of eight bedrooms and two full baths across the residential floors. The property contains 4,800 square feet overall and has a flat roof, public water, and radiant oil heating.
Located at 1240 Castle Hill Avenue in the Bronx, the property sits next to a train station. The combination of commercial space, basement area, and two separate apartments creates a vertically configured mixed-use building within the Duplexes classification.
Located at 1240 Castle Hill Avenue in the Bronx, the property sits next to a train station. The combination of commercial space, basement area, and two separate apartments creates a vertically configured mixed-use building within the Duplexes classification.
Key Highlights
- 4,800‑square‑foot duplex with storefront and two residential apartments
- 1,200‑square‑foot ground‑floor store with full 1,200‑square‑foot basement
- Two 4‑bedroom apartments, each with 1 full bath
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
$116,557
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
6.88%
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%
$2,331,140
$2.3M
Cap Rate 7%
$1,665,100
$1.7M
Cap Rate 9%
$1,295,078
$1.3M
Market Conditions
NOI Build-Up for 4,800 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
$175.7K $36.60/SF
− Vacancy
−$9.2K −$1.91/SF
EGI
$166.5K $34.69/SF
− OpEx
−$50.0K −$10.41/SF
NOI
$116.6K $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%
$2,331,140
Cap Rate 7%
$1,665,100
Cap Rate 9%
$1,295,078
Alternative Uses
Best Use
Multifamily LT 5
$1.67M
$1.46M – $1.94M
NOI $116,557 @ 7.0% cap · market cap 6.88%
Second Best
Apartment 5plus
$1.48M
$1.30M – $1.73M
NOI $103,883 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$2.29M
$2.00M – $2.67M
NOI $160,321 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,174
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units sit above a ground-floor commercial space with a full basement.
Where is this duplex located?
The property is located at 1240 Castle Hill Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: 4,800‑square‑foot duplex with storefront and two residential apartments; 1,200‑square‑foot ground‑floor store with full 1,200‑square‑foot basement; Two 4‑bedroom apartments, each with 1 full bath
