Two-Unit Duplex with
New
For Sale
$999,000
2839 Zulette Ave The, Bronx, NY 10461
A separate one-bedroom apartment accompanies the three-bedroom duplex.
Property Size2,585 SF
Days on Market2
Property Features for 2839 Zulette Ave The
General Information
Standard status
Active
Size
2,585 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$2,053
Building Details
Building Size
2,585 SF
Year Built
1957
Units
2
Listing Agency:
TODAY REALTY CORP.
Listed By:
Vincent Buccieri · License #10301203112
(718) 597-1777
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 3:21PM
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 TODAY REALTY CORP.
Investment Insights
Based on property information with market context.
Built in 1957, this two-family property pairs a three-bedroom duplex with a separate one-bedroom apartment. The apartment includes a finished basement, and the property has a one-car garage.
The home is at 2839 Zulette Ave in the Bronx, near shops, public transportation, and major highways. Its bike, walk, and transit scores are 92, 91, and 90, respectively.
The home is at 2839 Zulette Ave in the Bronx, near shops, public transportation, and major highways. Its bike, walk, and transit scores are 92, 91, and 90, respectively.
Key Highlights
- Three‑bedroom duplex plus a separate one‑bedroom apartment
- Finished basement associated with the one‑bedroom apartment
- One‑car garage
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
$65,663
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
6.57%
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%
$1,313,260
$1.3M
Cap Rate 7%
$938,043
$938.0K
Cap Rate 9%
$729,589
$729.6K
Market Conditions
NOI Build-Up for 2,585 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
$99.3K $38.40/SF
− Vacancy
−$5.5K −$2.11/SF
EGI
$93.8K $36.29/SF
− OpEx
−$28.1K −$10.89/SF
NOI
$65.7K $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%
$1,313,260
Cap Rate 7%
$938,043
Cap Rate 9%
$729,589
Alternative Uses
Best Use
Multifamily LT 5
$938.0K
$820.8K – $1.09M
NOI $65,663 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$849.5K
$743.3K – $991.1K
NOI $59,464 @ 7.0% cap · market cap 5.95%
Theoretical Best
Warehouse
$1.79M
$1.57M – $2.09M
NOI $125,386 @ 7.0% cap · market cap 12.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,231
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - A separate one-bedroom apartment accompanies the three-bedroom duplex.
Where is this duplex located?
The property is located at 2839 Zulette Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Three‑bedroom duplex plus a separate one‑bedroom apartment; Finished basement associated with the one‑bedroom apartment; One‑car garage
