Detached Two-Family Home with
For Sale
$995,000
1716 Parkview Avenue, Bronx, NY 10461
Legal residential income property offering two apartments with access to transit, shopping, highways, and Pelham Bay Park.
Property Size2,720 SF
Days on Market15
Property Features for 1716 Parkview Avenue
General Information
Standard status
Active
Size
2,720 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$7,540
Building Details
Building Size
2,720 SF
Year Built
1920
Units
2
Listing Agency:
Elite Real Estate Group 1 LLC
(646) 942-3487
Listed By:
Musa Balidemaj · License #10491203878
(646) 942-3487
Source:
Nextlevelrealestateny
Added: Aug 16
Changed: Aug 29
Last Checked: Aug 25 at 9:27AM
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 Elite Real Estate Group 1 LLC
Investment Insights
Based on property information with market context.
This detached legal two-family property, built in 1920, contains two residential apartments. Each apartment includes three bedrooms and one full bathroom, providing a consistent two-unit layout for residential income use. A large deck adds outdoor space to the property.
The home is situated in Pelham Bay near shopping, public transportation, highways, and Pelham Bay Park. Its detached configuration and two-apartment arrangement support a straightforward multifamily ownership profile in a well-connected Bronx setting.
The home is situated in Pelham Bay near shopping, public transportation, highways, and Pelham Bay Park. Its detached configuration and two-apartment arrangement support a straightforward multifamily ownership profile in a well-connected Bronx setting.
Key Highlights
- Detached legal two‑family property built in 1920
- Two apartments, each with 3 bedrooms and 1 full bathroom
- Large deck provides outdoor space
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
$69,092
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
6.94%
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%
$1,381,840
$1.4M
Cap Rate 7%
$987,029
$987.0K
Cap Rate 9%
$767,689
$767.7K
Market Conditions
NOI Build-Up for 2,720 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
$104.4K $38.40/SF
− Vacancy
−$5.7K −$2.11/SF
EGI
$98.7K $36.29/SF
− OpEx
−$29.6K −$10.89/SF
NOI
$69.1K $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%
$1,381,840
Cap Rate 7%
$987,029
Cap Rate 9%
$767,689
Alternative Uses
Best Use
Multifamily LT 5
$987.0K
$863.7K – $1.15M
NOI $69,092 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$893.9K
$782.1K – $1.04M
NOI $62,570 @ 7.0% cap · market cap 6.29%
Theoretical Best
Warehouse
$1.88M
$1.65M – $2.20M
NOI $131,934 @ 7.0% cap · market cap 13.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,634
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
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 - Legal residential income property offering two apartments with access to transit, shopping, highways, and Pelham Bay Park.
Where is this duplex located?
The property is located at 1716 Parkview Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Detached legal two‑family property built in 1920; Two apartments, each with 3 bedrooms and 1 full bathroom; Large deck provides outdoor space
