Renovated Two-Family
For Sale
$1,195,000
Pending
1843 Yates Ave The, Bronx, NY 10461
Legal two-family residence with a finished basement, oversized lot, garage, driveway, deck, and backyard.
Property Size2,955 SF
Days on Market93
Property Features for 1843 Yates Ave The
General Information
Standard status
Pending
Size
2,955 SF
Property subtype
Investment
Units
Unit Mix
1 x 5BR duplex, 1 x 1BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,478
Building Details
Building Size
2,955 SF
Year Built
1925
Units
2
Listing Agency:
Elite Real Estate Group
Listed By:
Musa Balidemaj · License #10491203878
(646) 942-3487
Source:
Elliman
Added: Jun 3
Changed: Sep 2
Last Checked: Sep 1 at 10:07PM
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
Investment Insights
Based on property information with market context.
This legal two-family property, built in 1925, offers a five-bedroom duplex along with a separate one-bedroom layout above a finished basement. Renovations include updated interior finishes, granite kitchen counters, custom cabinetry, a bay window, and bright living areas arranged for open-concept use. A living room and dining area extend to a large deck, while the property also includes a backyard, garage, large driveway, and oversized lot.
Located at 1843 Yates Ave in The Bronx’s Indian Village, the property is positioned on a tree-lined street. Walk Score is 91, Transit Score is 94, and Bike Score is 82, reflecting strong access for walking, public transportation, and cycling.
Located at 1843 Yates Ave in The Bronx’s Indian Village, the property is positioned on a tree-lined street. Walk Score is 91, Transit Score is 94, and Bike Score is 82, reflecting strong access for walking, public transportation, and cycling.
Key Highlights
- Legal two‑family property with a five‑bedroom duplex and separate one‑bedroom layout
- Finished basement, large deck, backyard, garage, and large driveway
- Oversized lot in Indian Village on a tree‑lined street
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
$75,062
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
6.28%
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%
$1,501,240
$1.5M
Cap Rate 7%
$1,072,314
$1.1M
Cap Rate 9%
$834,022
$834.0K
Market Conditions
NOI Build-Up for 2,955 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
$113.5K $38.40/SF
− Vacancy
−$6.2K −$2.11/SF
EGI
$107.2K $36.29/SF
− OpEx
−$32.2K −$10.89/SF
NOI
$75.1K $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%
$1,501,240
Cap Rate 7%
$1,072,314
Cap Rate 9%
$834,022
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$938.3K – $1.25M
NOI $75,062 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$971.1K
$849.7K – $1.13M
NOI $67,976 @ 7.0% cap · market cap 5.69%
Theoretical Best
Warehouse
$2.05M
$1.79M – $2.39M
NOI $143,333 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,785
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 two-family residence with a finished basement, oversized lot, garage, driveway, deck, and backyard.
Where is this duplex located?
The property is located at 1843 Yates Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Legal two‑family property with a five‑bedroom duplex and separate one‑bedroom layout; Finished basement, large deck, backyard, garage, and large driveway; Oversized lot in Indian Village on a tree‑lined street
