Renovated Two-Family Brick
For Sale
$999,999
Pending
2819 Coddington Ave The, Bronx, NY 10461
Renovated two-family brick residence with 5 bedrooms, 3 bathrooms, and a finished basement with a separate entrance.
Property Size1,728 SF
Days on Market134
Property Features for 2819 Coddington Ave The
General Information
Standard status
Pending
Size
1,728 SF
Total Parking Spaces
2
Property subtype
Investment
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,835
Building Details
Building Size
1,728 SF
Year Built
1930
Units
2
Construction
brick
Tenancy
Multi
Listed By:
Mohammad G. Amin
(646) 348-4472
Source:
Elliman
Added: Apr 28
Changed: Aug 13
Last Checked: Sep 8 at 8:35AM
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 Mohammad G. Amin
Investment Insights
Based on property information with market context.
Renovated two-family brick home offering a total of 5 bedrooms and 3 bathrooms, along with a finished basement featuring a separate entrance. The property includes a private driveway and a detached two-car garage, providing dedicated off-street parking.
Conveniently positioned near public transportation and a supermarket, with easy access to major highways and other local amenities.
The current configuration supports independent entry to the finished basement, adding flexibility for day-to-day use within the existing layout.
Conveniently positioned near public transportation and a supermarket, with easy access to major highways and other local amenities.
The current configuration supports independent entry to the finished basement, adding flexibility for day-to-day use within the existing layout.
Key Highlights
- Renovated two‑family brick residence built in 1930
- 5 bedrooms and 3 bathrooms with a finished basement
- Finished basement has a separate entrance
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
$43,894
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
4.39%
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%
$877,880
$877.9K
Cap Rate 7%
$627,057
$627.1K
Cap Rate 9%
$487,711
$487.7K
Market Conditions
NOI Build-Up for 1,728 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
$66.4K $38.40/SF
− Vacancy
−$3.6K −$2.11/SF
EGI
$62.7K $36.29/SF
− OpEx
−$18.8K −$10.89/SF
NOI
$43.9K $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%
$877,880
Cap Rate 7%
$627,057
Cap Rate 9%
$487,711
Alternative Uses
Best Use
Multifamily LT 5
$627.1K
$548.7K – $731.6K
NOI $43,894 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$567.9K
$496.9K – $662.5K
NOI $39,750 @ 7.0% cap · market cap 3.98%
Theoretical Best
Warehouse
$1.20M
$1.05M – $1.40M
NOI $83,817 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,214
Businesses Nearby
Explore this area
Business Placement
Demographics for 10461, NY
54,901
Population
20,418
Households
2.7
Avg Household Size
38
Median Age
27%
College-Educated
82%
High-School Grad
2.4 sq mi
ZIP Area
22,875
Density / Sq Mi
$65,023
Median Household Income
$45,445
Median Earnings
$1,741
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 - Renovated two-family brick residence with 5 bedrooms, 3 bathrooms, and a finished basement with a separate entrance.
Where is this duplex located?
The property is located at 2819 Coddington Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Renovated two‑family brick residence built in 1930; 5 bedrooms and 3 bathrooms with a finished basement; Finished basement has a separate entrance
