Two-Unit Duplex with Private
For Sale
$925,000
2066 Cicero Avenue, Bronx, NY 10473
Separate upper and lower residences provide central air, heating, and dedicated parking.
Property Size2,325 SF
Days on Market47
Property Features for 2066 Cicero Avenue
General Information
Standard status
Active
Size
2,325 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/2.5BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,532
Amenities
central air conditioning
central heating
Building Details
Building Size
2,325 SF
Year Built
1987
Buildings
1
Units
2
Listing Agency:
RE/MAX Distinguished Hms.&Prop
(914) 704-9677
Listed By:
Walter F. Sarmiento · License #10301205363
(914) 704-9677
Source:
Mahlerrealty
Added: Jul 13
Changed: Aug 28
Last Checked: Aug 28 at 11:29AM
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.
Located at 2066 Cicero Avenue in Bronx, NY, this duplex contains two separate residences. The upper apartment offers 3 bedrooms and 2.5 baths, while the lower apartment includes 2 bedrooms and 1 bath. Both units have central air conditioning and central heating, and the property includes a private driveway with space for two cars.
Built in 1987, the property is situated in Castle Hill near multiple shopping, dining, education, healthcare, and recreation options. Bus routes 22, 36, and 39 are within walking distance and connect with the 6 train. Nearby destinations include The Shops at Bruckner, ShopRite, Marshalls, Bruckner Commons Plaza, Soundview Park, Pugsley Creek Park, and NYC Health + Hospitals/Jacobi. The Throggs Neck Shopping Center and Montefiore Hospital – Albert Einstein Campus are also accessible by car.
Built in 1987, the property is situated in Castle Hill near multiple shopping, dining, education, healthcare, and recreation options. Bus routes 22, 36, and 39 are within walking distance and connect with the 6 train. Nearby destinations include The Shops at Bruckner, ShopRite, Marshalls, Bruckner Commons Plaza, Soundview Park, Pugsley Creek Park, and NYC Health + Hospitals/Jacobi. The Throggs Neck Shopping Center and Montefiore Hospital – Albert Einstein Campus are also accessible by car.
Key Highlights
- Two‑unit configuration with a 3‑bedroom, 2.5‑bath upper apartment and a 2‑bedroom, 1‑bath lower apartment
- Central air conditioning and central heating in both Apartment 1 and Apartment 2
- Private driveway accommodates two cars
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
$59,059
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
6.38%
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%
$1,181,180
$1.2M
Cap Rate 7%
$843,700
$843.7K
Cap Rate 9%
$656,211
$656.2K
Market Conditions
NOI Build-Up for 2,325 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
$89.3K $38.40/SF
− Vacancy
−$4.9K −$2.11/SF
EGI
$84.4K $36.29/SF
− OpEx
−$25.3K −$10.89/SF
NOI
$59.1K $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%
$1,181,180
Cap Rate 7%
$843,700
Cap Rate 9%
$656,211
Alternative Uses
Best Use
Multifamily LT 5
$843.7K
$738.2K – $984.3K
NOI $59,059 @ 7.0% cap · market cap 6.38%
Second Best
Apartment 5plus
$764.0K
$668.5K – $891.4K
NOI $53,483 @ 7.0% cap · market cap 5.78%
Theoretical Best
Warehouse
$1.61M
$1.41M – $1.88M
NOI $112,774 @ 7.0% cap · market cap 12.19%
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
1,175
Businesses Nearby
Explore this area
Business Placement
Demographics for 10473, NY
62,692
Population
23,234
Households
2.7
Avg Household Size
38
Median Age
24%
College-Educated
75%
High-School Grad
2.1 sq mi
ZIP Area
29,853
Density / Sq Mi
$50,609
Median Household Income
$40,049
Median Earnings
$1,131
Median Rent
$586,800
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 - Separate upper and lower residences provide central air, heating, and dedicated parking.
Where is this duplex located?
The property is located at 2066 Cicero Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Two‑unit configuration with a 3‑bedroom, 2.5‑bath upper apartment and a 2‑bedroom, 1‑bath lower apartment; Central air conditioning and central heating in both Apartment 1 and Apartment 2; Private driveway accommodates two cars
