Renovated Brick Duplex with
For Sale
$1,099,000
1893 Longfellow Avenue, Bronx, NY 10460
Legal two-family property with updated interiors, a finished unit over the garage, private outdoor space, and attached parking.
Property Size3,664 SF
Days on Market15
Property Features for 1893 Longfellow Avenue
General Information
Standard status
Active
Size
3,664 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$3,367
Building Details
Building Size
3,664 SF
Year Built
1910
Listing Agency:
RE/MAX Distinguished Hms.&Prop
Listed By:
Hermi Aquino · License #30AQ1103641
(646) 685-6269
Source:
Serhant
Added: Sep 11
Changed: Sep 24
Last Checked: Sep 24 at 4:39PM
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.
Built in 1910, this legal two-family brick residence includes two renovated two-bedroom apartments, each with a living room, dining area, kitchen, and full bathroom. Interior improvements include luxury vinyl flooring, recessed lighting, quartz countertops, stainless steel appliances, and refreshed kitchens and bathrooms. A finished unit is located above the attached one-car garage.
The corner property also provides backyard space and separate mechanical systems, including 2 boilers and 2 hot water heaters. Its Bronx location places the home near the 2 and 5 subway lines, multiple bus routes, major highways, schools, shopping hubs, hospitals, and The Bronx Zoo.
The corner property also provides backyard space and separate mechanical systems, including 2 boilers and 2 hot water heaters. Its Bronx location places the home near the 2 and 5 subway lines, multiple bus routes, major highways, schools, shopping hubs, hospitals, and The Bronx Zoo.
Key Highlights
- Legal two‑family brick residence built in 1910
- Two renovated 2‑bedroom apartments with living, dining, kitchen, and full‑bath areas
- Finished unit above an attached 1‑car garage
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
$93,071
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
8.47%
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%
$1,861,420
$1.9M
Cap Rate 7%
$1,329,586
$1.3M
Cap Rate 9%
$1,034,122
$1.0M
Market Conditions
NOI Build-Up for 3,664 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
$140.7K $38.40/SF
− Vacancy
−$7.7K −$2.11/SF
EGI
$133.0K $36.29/SF
− OpEx
−$39.9K −$10.89/SF
NOI
$93.1K $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%
$1,861,420
Cap Rate 7%
$1,329,586
Cap Rate 9%
$1,034,122
Alternative Uses
Best Use
Multifamily LT 5
$1.33M
$1.16M – $1.55M
NOI $93,071 @ 7.0% cap · market cap 8.47%
Second Best
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $84,285 @ 7.0% cap · market cap 7.67%
Theoretical Best
Warehouse
$2.54M
$2.22M – $2.96M
NOI $177,723 @ 7.0% cap · market cap 16.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,905
Businesses Nearby
Explore this area
Business Placement
Demographics for 10460, NY
62,625
Population
24,085
Households
2.6
Avg Household Size
34
Median Age
15%
College-Educated
71%
High-School Grad
1.5 sq mi
ZIP Area
41,750
Density / Sq Mi
$36,067
Median Household Income
$31,283
Median Earnings
$1,332
Median Rent
$589,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family property with updated interiors, a finished unit over the garage, private outdoor space, and attached parking.
Where is this duplex located?
The property is located at 1893 Longfellow Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Legal two‑family brick residence built in 1910; Two renovated 2‑bedroom apartments with living, dining, kitchen, and full‑bath areas; Finished unit above an attached 1‑car garage
