Detached Brick
New
For Sale
$1,400,000
1578 Edison Avenue, Bronx, NY 10461
Two upper residences have matching three-bedroom layouts, while a private driveway and built-in garage provide on-site parking.
Property Size3,485 SF
Days on Market4
Property Features for 1578 Edison Avenue
General Information
Standard status
Active
Size
3,485 SF
Total Parking Spaces
2
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Asking Price
$1,400,000
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$10,372
Amenities
backyard
storage shed
Building Details
Building Size
3,485 SF
Year Built
1970
Buildings
1
Stories
3
Construction
brick
Tenancy
Single
Listing Agency:
William Raveis New York City LLC
Listed By:
Philippe Doh · License #10401258064
(646) 684-4889
Source:
Serhant
Added: Sep 22
Changed: Sep 25
Last Checked: Sep 24 at 2:09PM
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 William Raveis New York City LLC
Investment Insights
Based on property information with market context.
This detached brick two-family property was built in 1970. Its second- and third-floor residences each have three bedrooms and one full bathroom. The third-floor home includes living and dining areas, wood flooring, and a windowed eat-in kitchen. The second-floor residence is tenant occupied. The first floor has a living area, kitchen, full bathroom, and washer and dryer; however, the Certificate of Occupancy designates that level for recreation, garage, and boiler space and does not authorize a separate dwelling. The first and third floors are shown in interior photographs.
A private driveway, built-in two-car garage, backyard, and storage shed are among the property's exterior features. Access to the tenant-occupied second-floor residence is subject to confirmation.
A private driveway, built-in two-car garage, backyard, and storage shed are among the property's exterior features. Access to the tenant-occupied second-floor residence is subject to confirmation.
Key Highlights
- Detached brick two‑family residence built in 1970
- Second and third floors each have 3 bedrooms and 1 full bathroom
- Certificate of Occupancy designates the first floor for recreation, garage, and boiler space—not a separate dwelling
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
$88,525
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
6.32%
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%
$1,770,500
$1.8M
Cap Rate 7%
$1,264,643
$1.3M
Cap Rate 9%
$983,611
$983.6K
Market Conditions
NOI Build-Up for 3,485 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
$133.8K $38.40/SF
− Vacancy
−$7.4K −$2.11/SF
EGI
$126.5K $36.29/SF
− OpEx
−$37.9K −$10.89/SF
NOI
$88.5K $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%
$1,770,500
Cap Rate 7%
$1,264,643
Cap Rate 9%
$983,611
Alternative Uses
Best Use
Multifamily LT 5
$1.26M
$1.11M – $1.48M
NOI $88,525 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$1.15M
$1.00M – $1.34M
NOI $80,168 @ 7.0% cap · market cap 5.73%
Theoretical Best
Warehouse
$2.41M
$2.11M – $2.82M
NOI $169,040 @ 7.0% cap · market cap 12.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,348
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 - Two upper residences have matching three-bedroom layouts, while a private driveway and built-in garage provide on-site parking.
Where is this duplex located?
The property is located at 1578 Edison Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Detached brick two‑family residence built in 1970; Second and third floors each have 3 bedrooms and 1 full bathroom; Certificate of Occupancy designates the first floor for recreation, garage, and boiler space—not a separate dwelling
