Two-Family Brick
For Sale
$749,000
2074 Turnbull Ave The, Bronx, NY 10473
Two-family brick home with parking and month-to-month leasing, offering separate lower and upper unit layouts.
Property Size1,782 SF
Days on Market111
Property Features for 2074 Turnbull Ave The
General Information
Standard status
Active
Size
1,782 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,701
Amenities
parking
backyard
Building Details
Building Size
1,782 SF
Year Built
1945
Stories
2
Tenancy
Multi
Listing Agency:
Metro Realty Professionals
(718) 838-2600
Listed By:
Jian Yang (Carey)
(718) 838-2600
Source:
Elliman
Added: Apr 28
Changed: Aug 13
Last Checked: Aug 15 at 9:12AM
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 Metro Realty Professionals
Investment Insights
Based on property information with market context.
This two-family brick duplex offers two separate living levels with distinct layouts. The lower-level unit includes a living room, modern kitchen, a 3/4 bath, and direct access to a large backyard. The top floor contains the second duplex unit with a living room, formal dining room, kitchen, and a half bathroom, plus a master bedroom and two additional bedrooms upstairs. The property is described as being in good condition and includes parking.
A month-to-month lease is in place for the tenant in the lower-level unit. The home is located in The Bronx and is minutes away from shopping and restaurants, with reported walk, bike, and transit scores of 80 (Very Walkable), 70 (Very Bikeable), and 72 (Excellent Transit), respectively.
A month-to-month lease is in place for the tenant in the lower-level unit. The home is located in The Bronx and is minutes away from shopping and restaurants, with reported walk, bike, and transit scores of 80 (Very Walkable), 70 (Very Bikeable), and 72 (Excellent Transit), respectively.
Key Highlights
- Two‑family brick home built in 1945 with parking
- Lower‑level unit has a living room, modern kitchen, 3/4 bath, and access to a huge backyard
- Lower unit is leased month‑to‑month
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
$45,266
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
6.04%
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%
$905,320
$905.3K
Cap Rate 7%
$646,657
$646.7K
Cap Rate 9%
$502,956
$503.0K
Market Conditions
NOI Build-Up for 1,782 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
$68.4K $38.40/SF
− Vacancy
−$3.8K −$2.11/SF
EGI
$64.7K $36.29/SF
− OpEx
−$19.4K −$10.89/SF
NOI
$45.3K $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%
$905,320
Cap Rate 7%
$646,657
Cap Rate 9%
$502,956
Alternative Uses
Best Use
Multifamily LT 5
$646.7K
$565.8K – $754.4K
NOI $45,266 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$585.6K
$512.4K – $683.2K
NOI $40,992 @ 7.0% cap · market cap 5.47%
Theoretical Best
Warehouse
$1.23M
$1.08M – $1.44M
NOI $86,436 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,659
Businesses Nearby
Explore this area
Business Placement
Demographics for 10473, NY
62,692
Population
23,234
Households
2.7
Avg Household Size
38
Median Age
24%
College-Educated
75%
High-School Grad
2.1 sq mi
ZIP Area
29,853
Density / Sq Mi
$50,609
Median Household Income
$40,049
Median Earnings
$1,131
Median Rent
$586,800
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 brick home with parking and month-to-month leasing, offering separate lower and upper unit layouts.
Where is this duplex located?
The property is located at 2074 Turnbull 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: Two‑family brick home built in 1945 with parking; Lower‑level unit has a living room, modern kitchen, 3/4 bath, and access to a huge backyard; Lower unit is leased month‑to‑month
