Renovated Two-Unit
For Sale
$950,000
1802 Palisade Place, Bronx, NY 10453
Two residences feature flexible bedroom layouts, laundry areas, eat-in kitchens, stainless-steel appliances, marble counters, and hardwood flooring.
Property Size2,772 SF
Days on Market372
Property Features for 1802 Palisade Place
General Information
Standard status
Active
Size
2,772 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR/2BA, 1 x 4BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,914
Amenities
laundry area
Building Details
Building Size
2,772 SF
Year Built
1935
Buildings
1
Units
2
Listing Agency:
Charles Rutenberg Realty, Inc.
(347) 593-4450
Listed By:
Harold Baez
(347) 593-4450
Source:
Nextlevelrealestateny
Added: Aug 23, 2025
Changed: Aug 28
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 Charles Rutenberg Realty, Inc.
Investment Insights
Based on property information with market context.
This two-family duplex comprises one apartment on each of two floors. The first-floor residence includes three bedrooms, two full bathrooms, a laundry area, and an eat-in kitchen equipped with stainless-steel appliances. The upper apartment offers four bedrooms, two full bathrooms, its own laundry area, and a similarly equipped eat-in kitchen. Marble countertops and hardwood flooring continue throughout both homes, while open interior areas provide additional living flexibility. The property was built in 1935 and has undergone a complete renovation.
Set on a dead-end street, the home is across from PS 109 middle school. Bus service is available via BX 18, BX 40, and BX 42, and I-87 is only minutes away by car.
Set on a dead-end street, the home is across from PS 109 middle school. Bus service is available via BX 18, BX 40, and BX 42, and I-87 is only minutes away by car.
Key Highlights
- Two‑unit duplex fully renovated with hardwood flooring throughout
- First‑floor apartment includes 3 bedrooms, 2 full bathrooms, laundry, and an eat‑in kitchen
- Second‑floor apartment offers 4 bedrooms, 2 full bathrooms, laundry, and an eat‑in 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
$69,533
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
7.32%
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%
$1,390,660
$1.4M
Cap Rate 7%
$993,329
$993.3K
Cap Rate 9%
$772,589
$772.6K
Market Conditions
NOI Build-Up for 2,772 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
$104.8K $37.80/SF
− Vacancy
−$5.4K −$1.97/SF
EGI
$99.3K $35.83/SF
− OpEx
−$29.8K −$10.75/SF
NOI
$69.5K $25.08/SF
Area
ZIP 10453
Vacancy
5.20%
Lease Rate
$37.80 /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%
$1,390,660
Cap Rate 7%
$993,329
Cap Rate 9%
$772,589
Alternative Uses
Best Use
Multifamily LT 5
$993.3K
$869.2K – $1.16M
NOI $69,533 @ 7.0% cap · market cap 7.32%
Second Best
Apartment 5plus
$923.5K
$808.1K – $1.08M
NOI $64,646 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,090 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,400
Businesses Nearby
Explore this area
Business Placement
Demographics for 10453, NY
81,951
Population
28,801
Households
2.8
Avg Household Size
34
Median Age
15%
College-Educated
69%
High-School Grad
0.9 sq mi
ZIP Area
91,057
Density / Sq Mi
$35,482
Median Household Income
$30,097
Median Earnings
$1,393
Median Rent
$580,100
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 - Two residences feature flexible bedroom layouts, laundry areas, eat-in kitchens, stainless-steel appliances, marble counters, and hardwood flooring.
Where is this duplex located?
The property is located at 1802 Palisade Place Bronx, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Two‑unit duplex fully renovated with hardwood flooring throughout; First‑floor apartment includes 3 bedrooms, 2 full bathrooms, laundry, and an eat‑in kitchen; Second‑floor apartment offers 4 bedrooms, 2 full bathrooms, laundry, and an eat‑in kitchen
