Vacant Two-Family
For Sale
$969,000
Pending
2876 Harrington Avenue, Bronx, NY 10461
Residential Income, Bronx, NY
Property Size2,280 SF
Lot Size0.05 Acres
Days on Market110
Property Features for 2876 Harrington Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Basement, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 6
Parking features
Driveway
Interior features
Storage, Washer/Dryer Hookup
Basement
Finished, Full
Elementary school
Ps 71 Rose E Scala
Middle school
Ps 71 Rose E Scala
High school
Herbert H Lehman High School
Elementary school district
Bronx 8
Middle school district
Bronx 8
High school district
Bronx 8
Standard status
Pending
APN
05376-0012
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8208
Utilities
Sewer type
Public Sewer
Heating system
Radiant, Oil
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
in-unit laundry
private balcony/terrace
finished basement
Building Details
Year built
1940
Number of units
2
Building materials
Brick
Additional Structures
Storage
Listing Agency:
Corcoran Legends Realty
(914) 762-0070
Listed By:
Brittany Perpepaj · License #10401395426 (NY)
(201) 957-3512
Added: May 21
Changed: Sep 6
Last Checked: Sep 7 at 9:06PM
MLS# 1008066
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This vacant brick duplex contains approximately 2,280 square feet of living space arranged as two three-bedroom residences. Both units include a kitchen, living area, updated full bathroom, in-unit laundry, and balcony or terrace access. The upper residence also has a primary bedroom with an attached bonus room or walk-in closet. A finished basement connects internally through the first-floor unit and also has its own exterior entry.
The property includes a one-car garage with storage, driveway parking, public water, and public sewer. Built in 1940, it has radiant oil heat and wall or window cooling units. The home is located on Harrington Avenue in the Bronx, near transportation, shopping, dining, schools, and major highways. It is offered vacant, allowing the next owner to occupy, lease, or configure the two residences for extended household use.
The property includes a one-car garage with storage, driveway parking, public water, and public sewer. Built in 1940, it has radiant oil heat and wall or window cooling units. The home is located on Harrington Avenue in the Bronx, near transportation, shopping, dining, schools, and major highways. It is offered vacant, allowing the next owner to occupy, lease, or configure the two residences for extended household use.
Key Highlights
- Vacant two‑family duplex with approximately 2,280 square feet of living space
- Two three‑bedroom units, each with an updated full bathroom, kitchen, living area, and in‑unit laundry
- Finished basement with interior connection and separate exterior 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
$57,916
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
5.98%
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%
$1,158,320
$1.2M
Cap Rate 7%
$827,371
$827.4K
Cap Rate 9%
$643,511
$643.5K
Market Conditions
NOI Build-Up for 2,280 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
$87.6K $38.40/SF
− Vacancy
−$4.8K −$2.11/SF
EGI
$82.7K $36.29/SF
− OpEx
−$24.8K −$10.89/SF
NOI
$57.9K $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%
$1,158,320
Cap Rate 7%
$827,371
Cap Rate 9%
$643,511
Alternative Uses
Best Use
Multifamily LT 5
$827.4K
$724.0K – $965.3K
NOI $57,916 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$749.3K
$655.6K – $874.1K
NOI $52,448 @ 7.0% cap · market cap 5.41%
Theoretical Best
Warehouse
$1.58M
$1.38M – $1.84M
NOI $110,592 @ 7.0% cap · market cap 11.41%
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
2,473
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 - Brick income property with two three-bedroom units, finished basement, garage, and separate exterior access.
Where is this duplex located?
The property is located at 2876 Harrington Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $969,000.
What are key features of this property?
This property features: Vacant two‑family duplex with approximately 2,280 square feet of living space; Two three‑bedroom units, each with an updated full bathroom, kitchen, living area, and in‑unit laundry; Finished basement with interior connection and separate exterior entrance
