Residential Income Property with
For Sale
$875,000
1656 Zerega Avenue, Bronx, NY 10462
Finished walk-out space, radiant heat, and an eat-in kitchen with granite counters support varied residential functionality.
Property Size1,628 SF
Price / SF$537.47
Days on Market82
Property Features for 1656 Zerega Avenue
General Information
Standard status
Active
Size
1,628 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,127
Amenities
No, No, None
Radiant
Square Feet, 19x101.5
No
Finished, Full, Walk-Out Access, Yes
Laminate
1st Floor Bedrm, A-Frame, Eat in Kitchen, First Floor Full Bath, Granite Counters, High Ceilings, Laminate, Public
First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen, Granite Counters, High Ceilings
Walk Out Basement, 1st Fl Master Bedroom, Eat in Kitchen, Granit Countertops, High Ceilings
Frame
Building Details
Year Built
1910
Listing Agency:
Keller Williams Realty NYC Grp
Listed By:
Manoje Sarkar
(718) 697-6800
Source:
Compass
Added: Jun 16
Changed: Sep 4
Last Checked: Aug 8 at 7:33AM
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 Keller Williams Realty NYC Grp
Investment Insights
Based on property information with market context.
This residential income property includes a finished full basement with walk-out access, an eat-in kitchen, granite counters, and high ceilings. Interior heating is provided by radiant systems and wall/window units. The exterior is identified as A-frame, with no garage or other garage structure noted. Built in 1910, the property offers a period residential asset with several defined interior features.
The property is located at 1656 Zerega Avenue in Bronx, NY 10462. Access is available from I-278 via Exit 7B, followed by Zerega Avenue and Castle Hill Avenue. The 6 Train serves Zerega Ave Station, which is described as a short walk from the property.
The property is located at 1656 Zerega Avenue in Bronx, NY 10462. Access is available from I-278 via Exit 7B, followed by Zerega Avenue and Castle Hill Avenue. The 6 Train serves Zerega Ave Station, which is described as a short walk from the property.
Key Highlights
- Finished full basement with walk‑out access
- Eat‑in kitchen with granite counters
- High ceilings and radiant heating
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
$35,234
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
4.03%
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%
$704,680
$704.7K
Cap Rate 7%
$503,343
$503.3K
Cap Rate 9%
$391,489
$391.5K
Market Conditions
NOI Build-Up for 1,628 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
$67.8K $41.64/SF
− Vacancy
−$3.7K −$2.29/SF
EGI
$64.1K $39.35/SF
− OpEx
−$28.8K −$17.71/SF
NOI
$35.2K $21.64/SF
Area
ZIP 10462
Vacancy
5.50%
Lease Rate
$41.64 /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%
$704,680
Cap Rate 7%
$503,343
Cap Rate 9%
$391,489
Alternative Uses
Best Use
Apartment 5plus
$503.3K
$440.4K – $587.2K
NOI $35,234 @ 7.0% cap · market cap 4.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$776.8K
$679.7K – $906.3K
NOI $54,376 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,652
Businesses Nearby
Explore this area
Business Placement
Demographics for 10462, NY
84,655
Population
31,828
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
1.5 sq mi
ZIP Area
56,437
Density / Sq Mi
$63,460
Median Household Income
$42,383
Median Earnings
$1,711
Median Rent
$372,100
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Finished walk-out space, radiant heat, and an eat-in kitchen with granite counters support varied residential functionality.
Where is this residential income property located?
The property is located at 1656 Zerega Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Finished full basement with walk‑out access; Eat‑in kitchen with granite counters; High ceilings and radiant heating
