Brick Duplex with Finished
New
For Sale
$1,400,000
2451 Wilson Ave The, Bronx, NY 10469
Two residential floors, a finished walk-out lower level, and garage income create a flexible residential configuration.
Property Size3,034 SF
Days on Market2
Property Features for 2451 Wilson Ave The
General Information
Standard status
Active
Size
3,034 SF
Property subtype
Investment
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,101
Building Details
Building Size
3,034 SF
Year Built
1965
Buildings
1
Units
2
Construction
brick
Listing Agency:
Real Broker NY LLC
(917) 645-6629
Listed By:
Shpresa Camaj
(917) 645-6629
Source:
Elliman
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 15 at 3:51AM
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 brick, fully detached duplex in the Pelham Gardens section of The Bronx includes two residential floors and a finished walk-out basement. The first floor is arranged as a two-bedroom unit and was previously configured with three bedrooms. The second floor contains three bedrooms. A new roof and garage add to the property’s physical and income-producing features.
The property is located at 2451 Wilson Ave in The Bronx, NY 10469. It is suitable for both investors and owner occupants, and there are currently no leases in place. The 1965-built residence also benefits from strong walkability and transit access, with a Walk Score of 86 and a Transit Score of 81.
The property is located at 2451 Wilson Ave in The Bronx, NY 10469. It is suitable for both investors and owner occupants, and there are currently no leases in place. The 1965-built residence also benefits from strong walkability and transit access, with a Walk Score of 86 and a Transit Score of 81.
Key Highlights
- Fully detached brick duplex in Pelham Gardens, The Bronx
- Finished walk‑out basement provides additional flexible space
- First floor currently has 2 bedrooms and was previously configured as 3 bedrooms
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
$77,068
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
5.50%
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%
$1,541,360
$1.5M
Cap Rate 7%
$1,100,971
$1.1M
Cap Rate 9%
$856,311
$856.3K
Market Conditions
NOI Build-Up for 3,034 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
$116.5K $38.40/SF
− Vacancy
−$6.4K −$2.11/SF
EGI
$110.1K $36.29/SF
− OpEx
−$33.0K −$10.89/SF
NOI
$77.1K $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%
$1,541,360
Cap Rate 7%
$1,100,971
Cap Rate 9%
$856,311
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$963.4K – $1.28M
NOI $77,068 @ 7.0% cap · market cap 5.50%
Second Best
Apartment 5plus
$997.0K
$872.4K – $1.16M
NOI $69,793 @ 7.0% cap · market cap 4.99%
Theoretical Best
Warehouse
$2.10M
$1.84M – $2.45M
NOI $147,164 @ 7.0% cap · market cap 10.51%
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
2,813
Businesses Nearby
Explore this area
Business Placement
Demographics for 10469, NY
71,571
Population
25,082
Households
2.9
Avg Household Size
39
Median Age
29%
College-Educated
83%
High-School Grad
2.4 sq mi
ZIP Area
29,821
Density / Sq Mi
$76,018
Median Household Income
$45,857
Median Earnings
$1,653
Median Rent
$640,400
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 residential floors, a finished walk-out lower level, and garage income create a flexible residential configuration.
Where is this duplex located?
The property is located at 2451 Wilson Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Fully detached brick duplex in Pelham Gardens, The Bronx; Finished walk‑out basement provides additional flexible space; First floor currently has 2 bedrooms and was previously configured as 3 bedrooms
