Spacious Two-Family Home in
For Sale
$749,900
Pending
1723 Melville St The, Bronx, NY 10460
Two-family home with flexible layout, backyard, and convenient location.
Property Size2,100 SF
Days on Market99
Property Features for 1723 Melville St The
General Information
Standard status
Pending
Size
2,100 SF
Property subtype
Investment
Building Details
Year Built
1910
Listing Agency:
Exit Realty Power
(914) 843-8266
Listed By:
Paul Magyar · License #10401271927
(914) 843-8266
Source:
Elliman
Added: Apr 28
Changed: Jul 10
Last Checked: Aug 3 at 5:55AM
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 Exit Realty Power
Investment Insights
Based on property information with market context.
This spacious, fully detached two-family home is located in the Van Nest neighborhood of the Bronx, offering potential for owner-occupants or investors. The property features over 2100 square feet of living space with original charm and unique features. Both the main and top floors offer a functional layout with 4 bedrooms and 1 full bathroom, providing ample space for everyday living and flexible use of rooms for bedrooms, living/dining areas, a home office, or guest space. The top floor also features a bonus room, adding additional versatility for a nursery, office, walk-in closet, or extra storage. The home includes a large, semi-finished basement with further potential for recreation space, storage, a laundry area, and customization. A private backyard is ideal for outdoor entertaining, cookouts, gardening, and relaxing. The property presents a wonderful opportunity for renovation, modernization, and customization. Conveniently located near neighborhood shops, schools, restaurants, parks, and places of worship, it offers easy transportation access, including the IRT White Plains Road Line (2 and 5 trains), multiple local bus routes, and quick access to the Bronx River Parkway and Cross Bronx Expressway, offering easy commuting throughout New York City and beyond. The bike score is 82, making it very bikeable. The walk score is 91, indicating it is a walker's paradise, and the transit score is 94, meaning it is a rider's paradise. The property is sold as-is.
Key Highlights
- Excellent Transit Score (94): Rider's Paradise, with easy access to the 2 and 5 trains, multiple bus routes, Bronx River Parkway, and Cross Bronx Expressway.
- Spacious, Detached 2‑Family Home: Offers over 2100 sq ft of living space with layout flexibility.
- Two Units, Each with 4 Bedrooms and 1 Bathroom: Provides ample living space and potential rental income.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $80.6k | $38.40 |
| − Vacancy | −$4.4k | −$2.11 |
| EGI | $76.2k | $36.29 |
| − OpEx | −$22.9k | −$10.89 |
| NOI | $53.3k | $25.40 |
2,100 SF · lease $38.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$762.0K
$666.8K – $889.1K
NOI $53,343 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$690.1K
$603.9K – $805.1K
NOI $48,308 @ 7.0% cap · market cap 6.44%
Theoretical Best
Warehouse
$1.46M
$1.27M – $1.70M
NOI $101,861 @ 7.0% cap · market cap 13.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,704
Businesses Nearby
Explore this area
Business Placement
Demographics for 10460, NY
62,625
Population
24,085
Households
2.6
Avg Household Size
34
Median Age
15%
College-Educated
71%
High-School Grad
1.5 sq mi
ZIP Area
41,750
Density / Sq Mi
$36,067
Median Household Income
$31,283
Median Earnings
$1,332
Median Rent
$589,300
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 home with flexible layout, backyard, and convenient location.
Where is this duplex located?
The property is located at 1723 Melville St The Bronx, NY.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Excellent Transit Score (94): Rider's Paradise, with easy access to the 2 and 5 trains, multiple bus routes, Bronx River Parkway, and Cross Bronx Expressway.; Spacious, Detached 2‑Family Home: Offers over 2100 sq ft of living space with layout flexibility.; Two Units, Each with 4 Bedrooms and 1 Bathroom: Provides ample living space and potential rental income.
