Spuyten Duyvil Two Bedroom
For Sale
$279,000
2390 Palisade Ave 5J The, Bronx, NY 10463
Bright 2-bedroom apartment near transportation and amenities in Spuyten Duyvil.
Property Size1,000 SF
Days on Market263
Property Features for 2390 Palisade Ave 5J The
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Residential
Building Details
Building Size
1,000 SF
Year Built
1964
Listing Agency:
Robert E Hill Inc
(917) 763-7655
Listed By:
Christine Keaveney
(917) 763-7655
Source:
Elliman
Added: Dec 3, 2025
Changed: Aug 23
Last Checked: Aug 23 at 10:36AM
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 Robert E Hill Inc
Investment Insights
Based on property information with market context.
This bright two-bedroom apartment is located in Spuyten Duyvil. The large bedrooms can easily accommodate a queen or king bed. The unit features hardwood floors throughout, a spacious living room and foyer, a windowed kitchen and bath, and ample storage with six closets. On-site amenities include laundry facilities, a gym, and a pool. A live-in superintendent is present. The property is located steps from the Metro North Spuyten Duyvil Station and within walking distance of express and local buses, as well as near major highways. Knolls Crescent, with many shops, is a short walk away. The location is also convenient to Riverdale and Johnson Avenue.
Key Highlights
- Convenient location: Steps to Metro North (Spuyten Duyvil Station), walking distance to buses, and near major highways.
- On‑site amenities: Laundry, gym, and pool.
- Spacious layout: Large bedrooms, spacious living room and foyer.
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
$23,004
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
8.25%
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%
$460,080
$460.1K
Cap Rate 7%
$328,629
$328.6K
Cap Rate 9%
$255,600
$255.6K
Market Conditions
NOI Build-Up for 1,000 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
$44.4K $44.40/SF
− Vacancy
−$2.6K −$2.58/SF
EGI
$41.8K $41.82/SF
− OpEx
−$18.8K −$18.82/SF
NOI
$23.0K $23.00/SF
Area
Bronx, NY
Vacancy
5.80%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
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%
$460,080
Cap Rate 7%
$328,629
Cap Rate 9%
$255,600
Alternative Uses
Best Use
Apartment 5plus
$328.6K
$287.6K – $383.4K
NOI $23,004 @ 7.0% cap · market cap 8.25%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$692.9K
$606.3K – $808.4K
NOI $48,505 @ 7.0% cap · market cap 17.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,301
Businesses Nearby
Explore this area
Business Placement
Demographics for 10463, NY
71,301
Population
30,602
Households
2.3
Avg Household Size
41
Median Age
44%
College-Educated
85%
High-School Grad
2.8 sq mi
ZIP Area
25,465
Density / Sq Mi
$72,952
Median Household Income
$48,409
Median Earnings
$1,611
Median Rent
$352,200
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?
Apartment building - Bright 2-bedroom apartment near transportation and amenities in Spuyten Duyvil.
Where is this apartment building located?
The property is located at 2390 Palisade Ave 5J The Bronx, NY.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Convenient location: Steps to Metro North (Spuyten Duyvil Station), walking distance to buses, and near major highways.; On‑site amenities: Laundry, gym, and pool.; Spacious layout: **Large bedrooms, spacious living room and foyer.**
