Well-Maintained Two-Family
For Sale
$690,000
Pending
246 Soundview Ave The, Bronx, NY 10473
Two-family home near shops, schools, transit, and Manhattan ferry.
Property Size1,510 SF
Lot Size0.05 Acres
Days on Market274
Property Features for 246 Soundview Ave The
General Information
Standard status
Pending
Size
1,510 SF
Lot size
0.05 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$5,205
Building Details
Building Size
1,510 SF
Year Built
1960
Units
2
Listing Agency:
(646) 861-8644
Listed By:
Carlos Grullon
(646) 861-8644
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 14
Last Checked: Aug 26 at 10:13AM
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 Carlos Grullon
Investment Insights
Based on property information with market context.
This well-maintained two-family home is ideal for investors or those seeking rental income. The property features a one-bedroom apartment on the lower level and a three-bedroom duplex unit upstairs, both with modern amenities and updates. A two-car garage, plus space for one additional car in the driveway, provides parking and storage. The large backyard offers possibilities for outdoor enjoyment. Located near Clason Point on Soundview Avenue, the property is conveniently near shops, schools, childcare facilities, and public transit. A ferry provides access to Manhattan in fifteen minutes. This property is a versatile, income-producing asset in a desirable neighborhood.
Key Highlights
- Income‑producing two‑family home, ideal for investors or owner‑occupants seeking rental income.
- Convenient location near shops, schools, childcare, public transit, and a 15‑minute ferry to Manhattan.
- Spacious units: a one‑bedroom apartment and a three‑bedroom duplex.
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
$38,356
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
5.56%
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%
$767,120
$767.1K
Cap Rate 7%
$547,943
$547.9K
Cap Rate 9%
$426,178
$426.2K
Market Conditions
NOI Build-Up for 1,510 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
$58.0K $38.40/SF
− Vacancy
−$3.2K −$2.11/SF
EGI
$54.8K $36.29/SF
− OpEx
−$16.4K −$10.89/SF
NOI
$38.4K $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%
$767,120
Cap Rate 7%
$547,943
Cap Rate 9%
$426,178
Alternative Uses
Best Use
Multifamily LT 5
$547.9K
$479.5K – $639.3K
NOI $38,356 @ 7.0% cap · market cap 5.56%
Second Best
Apartment 5plus
$496.2K
$434.2K – $578.9K
NOI $34,735 @ 7.0% cap · market cap 5.03%
Theoretical Best
Warehouse
$1.05M
$915.5K – $1.22M
NOI $73,243 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
745
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 - Two-family home near shops, schools, transit, and Manhattan ferry.
Where is this duplex located?
The property is located at 246 Soundview Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Income‑producing two‑family home, ideal for investors or owner‑occupants seeking rental income.; Convenient location near shops, schools, childcare, public transit, and a 15‑minute ferry to Manhattan.; Spacious units: a one‑bedroom apartment and a three‑bedroom duplex.
