Duplex With Finished
New
For Sale
$1,200,000
Pending
1897 Longfellow Ave The, Bronx, NY 10460
R-7-zoned duplex near Metro-North transportation options and established neighborhood amenities.
Property Size2,472 SF
Days on Market5
Property Features for 1897 Longfellow Ave The
General Information
Standard status
Pending
Size
2,472 SF
Property subtype
Investment
Zoning
R-7
Units
Unit Mix
3 x 3BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,108
Building Details
Building Size
2,472 SF
Year Built
1910
Units
2
Listing Agency:
Century 21 Galvez
(646) 326-3146
Listed By:
Alexander Galvez · License #10491210468
(646) 326-3146
Source:
Elliman
Added: Aug 12
Changed: Aug 15
Last Checked: Aug 15 at 8:18AM
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 Century 21 Galvez
Investment Insights
Based on property information with market context.
Built in 1910, this legal two-family residence includes three-bedroom living spaces and a finished basement. The property sits on an R-7 zoning lot, with potential for conversion to a legal three-family residence subject to applicable approvals.
Located at 1897 Longfellow Ave in The Bronx, the property is near Metro-North and other transportation options. The surrounding area records a Walk Score of 80, a BikeScore of 74, and a TransitScore of 100, reflecting convenient access for pedestrians, cyclists, and transit riders.
Located at 1897 Longfellow Ave in The Bronx, the property is near Metro-North and other transportation options. The surrounding area records a Walk Score of 80, a BikeScore of 74, and a TransitScore of 100, reflecting convenient access for pedestrians, cyclists, and transit riders.
Key Highlights
- Legal two‑family residence with a finished basement
- Three‑bedroom living spaces
- R‑7 zoning lot
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
$62,793
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
5.23%
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%
$1,255,860
$1.3M
Cap Rate 7%
$897,043
$897.0K
Cap Rate 9%
$697,700
$697.7K
Market Conditions
NOI Build-Up for 2,472 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
$94.9K $38.40/SF
− Vacancy
−$5.2K −$2.11/SF
EGI
$89.7K $36.29/SF
− OpEx
−$26.9K −$10.89/SF
NOI
$62.8K $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%
$1,255,860
Cap Rate 7%
$897,043
Cap Rate 9%
$697,700
Alternative Uses
Best Use
Multifamily LT 5
$897.0K
$784.9K – $1.05M
NOI $62,793 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$812.4K
$710.8K – $947.8K
NOI $56,865 @ 7.0% cap · market cap 4.74%
Theoretical Best
Warehouse
$1.71M
$1.50M – $2.00M
NOI $119,905 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - R-7-zoned duplex near Metro-North transportation options and established neighborhood amenities.
Where is this duplex located?
The property is located at 1897 Longfellow Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Legal two‑family residence with a finished basement; Three‑bedroom living spaces; R‑7 zoning lot
