Renovated Duplex Multifamily
For Sale
$1,199,000
1321 Balcom Avenue Unit 1, Bronx, NY 10461
Updated two-unit residence with modern interiors, private outdoor areas, and substantial mechanical improvements.
Property Size2,808 SF
Days on Market8
Property Features for 1321 Balcom Avenue Unit 1
General Information
Standard status
Active
Size
2,808 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,073
Amenities
solar panels
recessed lighting
rain showers
stainless steel appliances
quartz countertops
family room
den
deck
backyard
patio
storage sheds
balcony
home office
laundry room
skylights
Building Details
Building Size
2,808 SF
Year Built
1920
Buildings
1
Listing Agency:
Morris Park Realty Group
Listed By:
Joseph Cosentino · License #10311205741
(718) 881-1923
Source:
Serhant
Added: Sep 9
Changed: Sep 15
Last Checked: Sep 15 at 10:33AM
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 Morris Park Realty Group
Investment Insights
Based on property information with market context.
Built in 1920, this duplex multifamily property combines an extensively updated primary residence with a separate first-floor rental apartment. The main home includes an open living arrangement, eat-in kitchen, family room, den, three bedrooms, a home office, laundry room, and renovated bathrooms. The kitchen features stainless steel appliances, white oak cabinetry, quartz counters, and a waterfall-style island. Outdoor areas include a rear deck, backyard, slate patio, storage sheds, and a private second-floor balcony.
The rental apartment provides two bedrooms, an updated kitchen and full bathroom, new flooring, and separate front and rear access. Property improvements include new windows, front steps, iron railings, flat roofing, solar panels, skylights, an oil boiler, a stainless steel above-ground oil tank, steam radiators, two sump pumps, and additional storage. The property is located on Balcom Avenue in the Pelham Bay section of the Bronx, near major highways, public transportation, shopping, dining, and neighborhood services.
The rental apartment provides two bedrooms, an updated kitchen and full bathroom, new flooring, and separate front and rear access. Property improvements include new windows, front steps, iron railings, flat roofing, solar panels, skylights, an oil boiler, a stainless steel above-ground oil tank, steam radiators, two sump pumps, and additional storage. The property is located on Balcom Avenue in the Pelham Bay section of the Bronx, near major highways, public transportation, shopping, dining, and neighborhood services.
Key Highlights
- Two‑unit multifamily property with a separate first‑floor rental apartment
- Primary residence includes 3 bedrooms, home office, laundry room, and multiple updated bathrooms
- First‑floor apartment offers 2 bedrooms, updated kitchen, full bathroom, and front and rear access
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
$71,328
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
5.95%
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%
$1,426,560
$1.4M
Cap Rate 7%
$1,018,971
$1.0M
Cap Rate 9%
$792,533
$792.5K
Market Conditions
NOI Build-Up for 2,808 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
$107.8K $38.40/SF
− Vacancy
−$5.9K −$2.11/SF
EGI
$101.9K $36.29/SF
− OpEx
−$30.6K −$10.89/SF
NOI
$71.3K $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%
$1,426,560
Cap Rate 7%
$1,018,971
Cap Rate 9%
$792,533
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$891.6K – $1.19M
NOI $71,328 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$922.8K
$807.4K – $1.08M
NOI $64,594 @ 7.0% cap · market cap 5.39%
Theoretical Best
Warehouse
$1.95M
$1.70M – $2.27M
NOI $136,202 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,420
Businesses Nearby
Explore this area
Business Placement
Demographics for 10461, NY
54,901
Population
20,418
Households
2.7
Avg Household Size
38
Median Age
27%
College-Educated
82%
High-School Grad
2.4 sq mi
ZIP Area
22,875
Density / Sq Mi
$65,023
Median Household Income
$45,445
Median Earnings
$1,741
Median Rent
$640,400
Median Home Value
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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 - Updated two-unit residence with modern interiors, private outdoor areas, and substantial mechanical improvements.
Where is this duplex located?
The property is located at 1321 Balcom Avenue Unit 1 Bronx, NY.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Two‑unit multifamily property with a separate first‑floor rental apartment; Primary residence includes 3 bedrooms, home office, laundry room, and multiple updated bathrooms; First‑floor apartment offers 2 bedrooms, updated kitchen, full bathroom, and front and rear access
