Duplex with Private
New
For Sale
$1,500,000
1611 Hering Avenue, Bronx, NY 10461
Residential Income, Bronx, NY
Property Size2,136 SF
Lot Size0.06 Acres
Price / SF$702.25
Days on Market7
Property Features for 1611 Hering Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Laundry Room, Bathroom 3, Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 3
Parking features
Underground/Basement, Driveway
Patio and Porch features
Patio
Interior features
Entrance Foyer, Master Downstairs
Fencing
Fenced
Subdivision
Morris Park
Directions
1611 Hering Avenue should be entered from main street of Morris Park Avenue, and drive two blocks going south.
Standard status
Active
Size
2,136 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6729
Utilities
Heating system
Oil, Hot Water(Heating)
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Flooring type
Hardwood, Marble, Linoleum, Tile
Building materials
Masonite, Brick
Roof type
Flat
Listing Agency:
CAROZZA NICHOLAS M
Listed By:
Nicholas Carozza
(718) 931-0140
Added: Sep 25
Changed: Oct 1
Last Checked: Oct 1 at 6:06PM
MLS# 12001330
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1930-built duplex contains two apartments within 2,136 square feet on a 0.0574-acre lot. The basement is partly finished and includes a summer kitchen. A private garage and driveway provide on-site parking, with additional street parking also noted. Interior finishes include hardwood, marble, linoleum, and tile flooring, and the property has a patio and fenced area.
The property is within walking distance of Montefiore/Einstein Hospital and a college, as well as public transportation, schools, and shopping. Heating is oil-fired hot water, and the water source is public.
The property is within walking distance of Montefiore/Einstein Hospital and a college, as well as public transportation, schools, and shopping. Heating is oil-fired hot water, and the water source is public.
Key Highlights
- Two apartments in a 2,136‑square‑foot duplex
- 0.0574‑acre lot; built in 1930
- Partly finished basement with summer kitchen
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
$54,258
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
3.62%
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%
$1,085,160
$1.1M
Cap Rate 7%
$775,114
$775.1K
Cap Rate 9%
$602,867
$602.9K
Market Conditions
NOI Build-Up for 2,136 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
$82.0K $38.40/SF
− Vacancy
−$4.5K −$2.11/SF
EGI
$77.5K $36.29/SF
− OpEx
−$23.3K −$10.89/SF
NOI
$54.3K $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%
$1,085,160
Cap Rate 7%
$775,114
Cap Rate 9%
$602,867
Alternative Uses
Best Use
Multifamily LT 5
$775.1K
$678.2K – $904.3K
NOI $54,258 @ 7.0% cap · market cap 3.62%
Second Best
Apartment 5plus
$701.9K
$614.2K – $818.9K
NOI $49,136 @ 7.0% cap · market cap 3.28%
Theoretical Best
Warehouse
$1.48M
$1.30M – $1.73M
NOI $103,607 @ 7.0% cap · market cap 6.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,694
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 apartments are complemented by a partly finished basement with a summer kitchen.
Where is this duplex located?
The property is located at 1611 Hering Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Two apartments in a 2,136‑square‑foot duplex; 0.0574‑acre lot; built in 1930; Partly finished basement with summer kitchen
