Spacious Bronx Two-Family
1723 Melville Street, Bronx, NY 10460
- Added:
- Apr 26, 2026
- Days on Market:
- 48
- Last Refresh:
- Jun 12 at 11:06 pm
Property Features for 1723 Melville Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 2
- Rooms
- Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 5, Bedroom 6, Bedroom 2, Bedroom 8, Basement, Bedroom 1, Bedroom 7
- Parking features
- On Street
- Interior features
- First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen, Walk-In Closet(s)
- Basement
- Partially Finished
- Standard status
- Active
- APN
- 04019-0022
- Size
- 2,100 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 5999
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Oil
- Cooling system
- Wall/Window Unit(s), Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1910
- Number of units
- 2
- Building materials
- Frame
Listing agent Paul Magyar License #10401271927 (914) 843-8266
Listing office Exit Realty Group 985 Allerton Ave., Bronx, NY (718) 319-8500
Listing date Apr 26, 2026
MLS# 991502
Listing URL
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Spacious 2‑family detached home with over 2100 sq ft of living space, suitable for owner‑occupants or investors
- Each floor features 4 bedrooms and 1 full bathroom, offering layout flexibility and ample living space
- Large, semi‑finished basement provides potential for recreation, storage, laundry, and customization
- Private backyard ideal for outdoor entertaining, gardening, and relaxation
- Convenient location near shops, schools, restaurants, parks, and places of worship
- Easy access to transportation, including the 2 and 5 trains, multiple bus routes, and major parkways
Overview
This two-family home, situated in the Van Nest neighborhood of the Bronx, offers an opportunity for both owner-occupants and investors. The detached property features over 2100 square feet of living space and retains original charm and unique features. The main floor provides a functional layout with 4 bedrooms and 1 full bathroom, suitable for varied uses such as bedrooms, living or dining areas, a home office, or guest space. The top floor mirrors this layout, also featuring 4 bedrooms, 1 full bathroom, a living and dining area, plus a bonus room that could serve as a nursery, office, walk-in closet, or for extra storage. The property includes a large, semi-finished basement, offering potential for a recreation space, storage, laundry area, and customization. A private backyard provides space for outdoor entertaining, cookouts, gardening, and relaxation. The 0.0574-acre lot home presents opportunities for renovation, modernization, and customization. Located near neighborhood shops, schools, restaurants, parks, and places of worship, the property offers convenient transportation access, including the IRT White Plains Road Line (2 and 5 trains), multiple local bus routes, and access to the Bronx River Parkway and Cross Bronx Expressway, facilitating commuting throughout New York City and beyond. The property is sold as-is.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $80.6k | $38.40 |
| − Vacancy | −$4.4k | −$2.11 |
| EGI | $76.2k | $36.29 |
| − OpEx | −$22.9k | −$10.89 |
| NOI | $53.3k | $25.40 |
2,100 SF · lease $38.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$762.0K
$666.8K – $889.1K
NOI $53,343 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$690.1K
$603.9K – $805.1K
NOI $48,308 @ 7.0% cap · market cap 6.44%
Theoretical Best
Warehouse
$1.46M
$1.27M – $1.70M
NOI $101,861 @ 7.0% cap · market cap 13.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Bronx
- County
- Bronx
- State
- New York
- Longitude
- -73.870205
- Latitude
- 40.842051
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Two-family home in Van Nest neighborhood with renovation potential.
Where is this duplex located?
The property is located at 1723 Melville Street Bronx, NY.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Spacious 2‑family detached home with over 2100 sq ft of living space, suitable for owner‑occupants or investors; Each floor features **4 bedrooms and 1 full bathroom**, offering layout flexibility and ample living space; Large, semi‑finished basement provides potential for recreation, storage, laundry, and customization
