Two-Unit Duplex With
For Sale
$959,999
229 W Tremont Avenue #A, Bronx, NY 10453
Two three-bedroom apartments offer separate living, dining, and kitchen areas, complemented by an attached garage and driveway parking.
Property Size3,053 SF
Days on Market69
Property Features for 229 W Tremont Avenue #A
General Information
Standard status
Active
Size
3,053 SF
Total Parking Spaces
4
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,965
Building Details
Building Size
3,053 SF
Year Built
2007
Buildings
1
Units
2
Listing Agency:
Real Broker NY LLC
(917) 791-4024
Listed By:
John Lajara
(917) 791-4024
Source:
Maurafinnegan
Added: Jun 22
Changed: Aug 28
Last Checked: Aug 28 at 11:31AM
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 Real Broker NY LLC
Investment Insights
Based on property information with market context.
This 2007 duplex contains two 3-bedroom apartments, each arranged with a living room, formal dining room, eat-in kitchen, and full bathroom. The ground level includes an attached 2-car garage, with an existing setup that could support conversion to finished basement space. A 2-car driveway provides additional parking.
The property is near the 4 and B train lines, Bx1, Bx2, and Bx19 bus routes, Major Deegan Expressway (I-87), and Cross Bronx Expressway. Yankee Stadium, Highbridge Park, Bronx Terminal Market, and retail and dining along Jerome Avenue and the Grand Concourse are also nearby.
The property is near the 4 and B train lines, Bx1, Bx2, and Bx19 bus routes, Major Deegan Expressway (I-87), and Cross Bronx Expressway. Yankee Stadium, Highbridge Park, Bronx Terminal Market, and retail and dining along Jerome Avenue and the Grand Concourse are also nearby.
Key Highlights
- Two 3‑bedroom apartments, each with living room, formal dining room, eat‑in kitchen, and full bathroom
- Built in 2007
- Attached 2‑car garage with existing setup for potential finished basement conversion
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
$76,582
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
7.98%
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%
$1,531,640
$1.5M
Cap Rate 7%
$1,094,029
$1.1M
Cap Rate 9%
$850,911
$850.9K
Market Conditions
NOI Build-Up for 3,053 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
$115.4K $37.80/SF
− Vacancy
−$6.0K −$1.97/SF
EGI
$109.4K $35.83/SF
− OpEx
−$32.8K −$10.75/SF
NOI
$76.6K $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%
$1,531,640
Cap Rate 7%
$1,094,029
Cap Rate 9%
$850,911
Alternative Uses
Best Use
Multifamily LT 5
$1.09M
$957.3K – $1.28M
NOI $76,582 @ 7.0% cap · market cap 7.98%
Second Best
Apartment 5plus
$1.02M
$890.0K – $1.19M
NOI $71,199 @ 7.0% cap · market cap 7.42%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,324 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,400
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 - Two three-bedroom apartments offer separate living, dining, and kitchen areas, complemented by an attached garage and driveway parking.
Where is this duplex located?
The property is located at 229 W Tremont Avenue #A Bronx, NY.
What is the asking price?
The asking price for this property is $959,999.
What are key features of this property?
This property features: Two 3‑bedroom apartments, each with living room, formal dining room, eat‑in kitchen, and full bathroom; Built in 2007; Attached 2‑car garage with existing setup for potential finished basement conversion
