Brick Two-Family
For Sale
$649,000
1842 Schieffelin Ave TWN The, Bronx, NY 10466
Separate utility connections support a two-unit layout with outdoor access, a porch, garage, and driveway.
Property Size1,806 SF
Days on Market15
Property Features for 1842 Schieffelin Ave TWN The
General Information
Standard status
Active
Size
1,806 SF
Property subtype
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
in need of some TLC
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
3 bed, 1.5 bath, 1 bed, 1 bath
Multifamily Units
2
Amenities
backyard access
porch
garage with a driveway
Building Details
Building Size
1,806 SF
Year Built
1950
Units
2
Construction
brick
Listing Agency:
Keller Williams NYC
Listed By:
Danielle Jernigan
(212) 838-3700
Source:
Elliman
Added: Sep 11
Changed: Sep 25
Last Checked: Sep 24 at 11:42AM
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 NYC
Investment Insights
Based on property information with market context.
Built in 1950, this brick duplex contains two distinct residential units: one with 3 bedrooms and 1.5 baths, and another with 1 bedroom and 1 bath. The property requires rehabilitation and is being offered in its current as-is condition.
Exterior features include a porch, backyard access, and a garage reached by a driveway. Dedicated utility connections serve the property. Located at 1842 Schieffelin Ave in The Bronx, the home has a Walk Score of 74, a Transit Score of 65, and a Bike Score of 53.
Exterior features include a porch, backyard access, and a garage reached by a driveway. Dedicated utility connections serve the property. Located at 1842 Schieffelin Ave in The Bronx, the home has a Walk Score of 74, a Transit Score of 65, and a Bike Score of 53.
Key Highlights
- Two‑family property with one 3‑bedroom, 1.5‑bath unit and one 1‑bedroom, 1‑bath unit
- Brick construction completed in 1950
- Garage with driveway, porch, and backyard access
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
$45,875
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
7.07%
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%
$917,500
$917.5K
Cap Rate 7%
$655,357
$655.4K
Cap Rate 9%
$509,722
$509.7K
Market Conditions
NOI Build-Up for 1,806 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
$69.4K $38.40/SF
− Vacancy
−$3.8K −$2.11/SF
EGI
$65.5K $36.29/SF
− OpEx
−$19.7K −$10.89/SF
NOI
$45.9K $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%
$917,500
Cap Rate 7%
$655,357
Cap Rate 9%
$509,722
Alternative Uses
Best Use
Multifamily LT 5
$655.4K
$573.4K – $764.6K
NOI $45,875 @ 7.0% cap · market cap 7.07%
Second Best
Apartment 5plus
$593.5K
$519.3K – $692.4K
NOI $41,545 @ 7.0% cap · market cap 6.40%
Theoretical Best
Warehouse
$1.25M
$1.10M – $1.46M
NOI $87,600 @ 7.0% cap · market cap 13.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,712
Businesses Nearby
Explore this area
Business Placement
Demographics for 10466, NY
70,420
Population
26,303
Households
2.7
Avg Household Size
38
Median Age
26%
College-Educated
81%
High-School Grad
2.0 sq mi
ZIP Area
35,210
Density / Sq Mi
$66,328
Median Household Income
$44,053
Median Earnings
$1,528
Median Rent
$605,300
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
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Frequently Asked Questions
What type of property is this?
Duplex - Separate utility connections support a two-unit layout with outdoor access, a porch, garage, and driveway.
Where is this duplex located?
The property is located at 1842 Schieffelin Ave TWN The Bronx, NY.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Two‑family property with one 3‑bedroom, 1.5‑bath unit and one 1‑bedroom, 1‑bath unit; Brick construction completed in 1950; Garage with driveway, porch, and backyard access
