Detached Brick Duplex with
For Sale
$1,349,000
1858 Phelan Place, Bronx, NY 10453
Legal two-family residence with renovated kitchen and bathrooms, hardwood floors, private access, and a finished walkout basement.
Property Size3,852 SF
Days on Market31
Property Features for 1858 Phelan Place
General Information
Standard status
Active
Size
3,852 SF
Total Parking Spaces
3
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,612
Building Details
Building Size
3,852 SF
Year Built
1920
Buildings
1
Units
2
Construction
brick
Listing Agency:
RE/MAX Distinguished Hms.&Prop
(646) 685-6269
Listed By:
Hermi Aquino · License #30AQ1103641
(646) 685-6269
Source:
Cohenandcohenrealty
Added: Jul 31
Changed: Aug 28
Last Checked: Aug 29 at 10:20AM
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 RE/MAX Distinguished Hms.&Prop
Investment Insights
Based on property information with market context.
This detached brick duplex at 1858 Phelan Place was built in 1920 and includes two primary apartments, a finished above-ground walkout basement, and additional finished attic space. The first-floor apartment has three bedrooms, 1.5 baths, high ceilings, hardwood flooring, a renovated kitchen with custom cabinetry and granite countertops, renovated bathrooms, private access, and substantial closet storage. The second-floor apartment contains four bedrooms and 1.5 baths. The basement adds a two-bedroom, one-bath area plus a studio with a full bath, while the finished attic is configured as loft or studio space with another full bath.
The property includes a two-car garage, shared driveway, rear fire escape, and separate metering with four electric meters and four gas meters. It is near MTA subway lines #4, B, and D, Metro-North, bus service, shopping hubs, Fordham University, Bronx Community College, Monroe College, Lehman College, Manhattan, and major highways.
The property includes a two-car garage, shared driveway, rear fire escape, and separate metering with four electric meters and four gas meters. It is near MTA subway lines #4, B, and D, Metro-North, bus service, shopping hubs, Fordham University, Bronx Community College, Monroe College, Lehman College, Manhattan, and major highways.
Key Highlights
- Detached brick legal 2‑family home built in 1920
- First‑floor apartment with 3 bedrooms and 1.5 baths
- Second‑floor apartment with 4 bedrooms and 1.5 baths
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
$96,624
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
7.16%
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%
$1,932,480
$1.9M
Cap Rate 7%
$1,380,343
$1.4M
Cap Rate 9%
$1,073,600
$1.1M
Market Conditions
NOI Build-Up for 3,852 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
$145.6K $37.80/SF
− Vacancy
−$7.6K −$1.97/SF
EGI
$138.0K $35.83/SF
− OpEx
−$41.4K −$10.75/SF
NOI
$96.6K $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%
$1,932,480
Cap Rate 7%
$1,380,343
Cap Rate 9%
$1,073,600
Alternative Uses
Best Use
Multifamily LT 5
$1.38M
$1.21M – $1.61M
NOI $96,624 @ 7.0% cap · market cap 7.16%
Second Best
Apartment 5plus
$1.28M
$1.12M – $1.50M
NOI $89,833 @ 7.0% cap · market cap 6.66%
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,580 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,241
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 - Legal two-family residence with renovated kitchen and bathrooms, hardwood floors, private access, and a finished walkout basement.
Where is this duplex located?
The property is located at 1858 Phelan Place Bronx, NY.
What is the asking price?
The asking price for this property is $1,349,000.
What are key features of this property?
This property features: Detached brick legal 2‑family home built in 1920; First‑floor apartment with 3 bedrooms and 1.5 baths; Second‑floor apartment with 4 bedrooms and 1.5 baths
