Morris Park Two-Family Brick
For Sale
$899,999
1957 Bogart Ave The, Bronx, NY 10462
Charming, move-in ready, income-producing two-family home in Morris Park.
Property Size1,831 SF
Price / SF$491.53
Days on Market122
Property Features for 1957 Bogart Ave The
General Information
Standard status
Active
Size
1,831 SF
Property subtype
Multi Family
Building Details
Year Built
1955
Listing Agency:
Robert Defalco Realty
(718) 987-7900
Listed By:
Michael Gentilesco
(718) 987-7900
Source:
Elliman
Added: Apr 9
Changed: Jul 10
Last Checked: Aug 7 at 2:20AM
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 Robert Defalco Realty
Investment Insights
Based on property information with market context.
Located at 1957 Bogart Avenue in the Bronx, this two-family brick home, constructed in 1955, is situated in the Morris Park neighborhood. The property offers an opportunity for both homeowners and investors. The building features a classic brick exterior and a well-maintained interior. The residence provides living space across two separate units, suitable for multi-generational living, rental income, or owner-occupancy with supplemental cash flow. The home includes approximately 1,831 square feet of living space and is located on a residential street with access to amenities, parks, transportation, and shopping. The basement area offers potential for additional income or flexible space. The property is very bikeable with a bike score of 82, and is located in a walker's paradise with a walk score of 91. Public transportation is readily accessible, indicated by a transit score of 94.
Key Highlights
- Prime Morris Park Location: Easy access to amenities, parks, transportation, and shopping.
- Income‑Producing Two‑Family Home: Ideal for rental income or owner‑occupancy.
- Move‑In Ready Condition: Well‑maintained interior and classic brick exterior.
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
$44,462
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
4.94%
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%
$889,240
$889.2K
Cap Rate 7%
$635,171
$635.2K
Cap Rate 9%
$494,022
$494.0K
Market Conditions
NOI Build-Up for 1,831 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
$67.0K $36.60/SF
− Vacancy
−$3.5K −$1.91/SF
EGI
$63.5K $34.69/SF
− OpEx
−$19.1K −$10.41/SF
NOI
$44.5K $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%
$889,240
Cap Rate 7%
$635,171
Cap Rate 9%
$494,022
Alternative Uses
Best Use
Multifamily LT 5
$635.2K
$555.8K – $741.0K
NOI $44,462 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$566.1K
$495.3K – $660.5K
NOI $39,627 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$873.7K
$764.5K – $1.02M
NOI $61,156 @ 7.0% cap · market cap 6.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,545
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 - Charming, move-in ready, income-producing two-family home in Morris Park.
Where is this duplex located?
The property is located at 1957 Bogart Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $899,999.
What are key features of this property?
This property features: Prime Morris Park Location: Easy access to amenities, parks, transportation, and shopping.; Income‑Producing Two‑Family Home: Ideal for rental income or owner‑occupancy.; Move‑In Ready Condition: Well‑maintained interior and classic brick exterior.
