Renovated Two-Family
For Sale
$799,000
1301 Clay Ave, Bronx, NY 10456
Vacant residence offers two apartments, a finished basement, driveway parking, and backyard space.
Property Size2,988 SF
Price / SF$267.40
Days on Market11
Property Features for 1301 Clay Ave
General Information
Standard status
Active
Size
2,988 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Zoning
R7-1
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 4BR/2BA, 1 x 3BR/1BA
Multifamily Units
2
Amenities
fully finished basement
private bath
backyard
Building Details
Year Built
1901
Buildings
1
Listing Agency:
YourHomeSold Guaranteed Realty
Listed By:
Abel Brea · License #10401369967
Source:
Searchhomesinlongisland
Added: Aug 19
Changed: Aug 28
Last Checked: Aug 29 at 10:34AM
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 YourHomeSold Guaranteed Realty
Investment Insights
Based on property information with market context.
Built in 1901, this R7-1-zoned duplex contains two separate residential units arranged one above the other. The upper residence has 4 bedrooms and 2 baths, while the lower unit includes 3 bedrooms and 1 bath. Recent renovations extend to a fully finished basement with its own bath. The property is currently vacant, allowing immediate occupancy or leasing without an existing tenant in place.
Exterior features include a 1-car driveway and a private backyard. The home is located in the Claremont section of the Bronx, with public transportation, major highways, shopping, parks, schools, and other neighborhood amenities identified in the surrounding area.
Exterior features include a 1-car driveway and a private backyard. The home is located in the Claremont section of the Bronx, with public transportation, major highways, shopping, parks, schools, and other neighborhood amenities identified in the surrounding area.
Key Highlights
- Two‑family duplex with a 4‑bedroom, 2‑bath upper unit and 3‑bedroom, 1‑bath lower unit
- Fully vacant and recently renovated
- Finished basement with a private 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
$69,886
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
8.75%
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%
$1,397,720
$1.4M
Cap Rate 7%
$998,371
$998.4K
Cap Rate 9%
$776,511
$776.5K
Market Conditions
NOI Build-Up for 2,988 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
$134.5K $45.00/SF
− Vacancy
−$7.4K −$2.48/SF
EGI
$127.1K $42.53/SF
− OpEx
−$57.2K −$19.14/SF
NOI
$69.9K $23.39/SF
Area
ZIP 10456
Vacancy
5.50%
Lease Rate
$45.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,397,720
Cap Rate 7%
$998,371
Cap Rate 9%
$776,511
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$968.8K – $1.29M
NOI $77,506 @ 7.0% cap · market cap 9.70%
Second Best
Apartment 5plus
$998.4K
$873.6K – $1.16M
NOI $69,886 @ 7.0% cap · market cap 8.75%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,847 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5,131
Businesses Nearby
Explore this area
Business Placement
Demographics for 10456, NY
93,412
Population
33,321
Households
2.8
Avg Household Size
34
Median Age
14%
College-Educated
68%
High-School Grad
1.1 sq mi
ZIP Area
84,920
Density / Sq Mi
$35,676
Median Household Income
$30,340
Median Earnings
$1,194
Median Rent
$428,800
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 - Vacant residence offers two apartments, a finished basement, driveway parking, and backyard space.
Where is this duplex located?
The property is located at 1301 Clay Ave Bronx, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑family duplex with a 4‑bedroom, 2‑bath upper unit and 3‑bedroom, 1‑bath lower unit; Fully vacant and recently renovated; Finished basement with a private bath
