Brick Duplex With Walkout
For Sale
$999,000
1526 Ericson Place, Bronx, NY 10461
Legal two-family brick property with a finished walkout basement, private entrance, backyard, and detached parking structure.
Property Size3,360 SF
Lot Size0.09 Acres
Days on Market15
Property Features for 1526 Ericson Place
General Information
Standard status
Active
Size
3,360 SF
Total Parking Spaces
2
Lot size
0.09 Acres
Property subtype
Duplex
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,238
Amenities
backyard
Building Details
Building Size
3,360 SF
Year Built
1960
Buildings
1
Construction
brick
Listing Agency:
RE/MAX Distinguished Hms.&Prop
Listed By:
Hermi Aquino · License #30AQ1103641
(646) 685-6269
Source:
Serhant
Added: Sep 10
Changed: Sep 17
Last Checked: Sep 22 at 9:24PM
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 RE/MAX Distinguished Hms.&Prop
Investment Insights
Based on property information with market context.
This legal two-family duplex is a solid brick corner property built in 1960. The second-floor apartment contains three bedrooms, one full bath, a living room, kitchen, and substantial closet space. The first-floor residence also offers three bedrooms and one full bath, with access to a fully finished walkout basement that includes an additional bathroom and separate private entry. A two-car garage and spacious backyard complete the property. The lot measures 50.25 X 76.67.
The property is located steps from the #6 train station and near multiple subway lines, shopping hubs, schools, hospitals, and major highways. Its two-unit configuration, finished lower level, garage, and outdoor space provide a range of practical features for residential income ownership.
The property is located steps from the #6 train station and near multiple subway lines, shopping hubs, schools, hospitals, and major highways. Its two-unit configuration, finished lower level, garage, and outdoor space provide a range of practical features for residential income ownership.
Key Highlights
- Legal two‑family configuration with two 3‑bedroom, 1‑bath apartments
- Finished walkout basement with bathroom and separate private entrance
- Solid brick corner property built in 1960
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
$85,349
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
8.54%
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%
$1,706,980
$1.7M
Cap Rate 7%
$1,219,271
$1.2M
Cap Rate 9%
$948,322
$948.3K
Market Conditions
NOI Build-Up for 3,360 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
$129.0K $38.40/SF
− Vacancy
−$7.1K −$2.11/SF
EGI
$121.9K $36.29/SF
− OpEx
−$36.6K −$10.89/SF
NOI
$85.3K $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%
$1,706,980
Cap Rate 7%
$1,219,271
Cap Rate 9%
$948,322
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.07M – $1.42M
NOI $85,349 @ 7.0% cap · market cap 8.54%
Second Best
Apartment 5plus
$1.10M
$966.2K – $1.29M
NOI $77,292 @ 7.0% cap · market cap 7.74%
Theoretical Best
Warehouse
$2.33M
$2.04M – $2.72M
NOI $162,977 @ 7.0% cap · market cap 16.31%
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
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,231
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 - Legal two-family brick property with a finished walkout basement, private entrance, backyard, and detached parking structure.
Where is this duplex located?
The property is located at 1526 Ericson Place Bronx, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Legal two‑family configuration with two 3‑bedroom, 1‑bath apartments; Finished walkout basement with bathroom and separate private entrance; Solid brick corner property built in 1960
