Vacant Two-Family
For Sale
$899,000
Pending
288 Cypress Avenue, Bronx, NY 10454
Residential Income, Bronx, NY
Property Size2,280 SF
Days on Market41
Property Features for 288 Cypress Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 4, Dining Room, Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 5, Bedroom 3
Parking
1
Parking features
Driveway
Window features
Bay Window(s)
Interior features
Formal Dining, Galley Type Kitchen, Washer/Dryer Hookup
Exterior features
Mailbox
Fencing
Fenced
Lot features
Back Yard
Elementary school
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Middle school
Call Listing Agent
High school
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Elementary school district
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Middle school district
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High school district
Contact Agent
Directions
MOTT HAVEN neighborhood - From 138th make a left onto Cypress Avenue (between E 140th and E 139th Street.)
Standard status
Pending
APN
02568-0006
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5812
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Amenities
private parking
backyard
Building Details
Year built
2000
Number of units
2
Flooring type
Carpet, Laminate, Hardwood
Building materials
Brick, Vinyl Siding
Listing Agency:
Keller Williams Realty NYC Grp
(718) 697-6800
Listed By:
Vanessa Villanueva
(917) 557-5302
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 29 at 4:06AM
MLS# 1028446
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.
Located at 288 Cypress Avenue in the Bronx, this legal two-family home was built in 2000 and contains approximately 2,280 square feet. The property will be delivered fully vacant, with two separate residences that support owner occupancy, extended-family use, or leasing. The first-floor unit includes 2 bedrooms and 1 full bath. Above it, a 3-bedroom, 1.5-bath duplex offers a formal living room, formal dining room, hardwood and carpet flooring, and a recently updated kitchen.
Exterior and utility features include a private driveway, fenced backyard access, public water and sewer, natural-gas heating, and separate gas and electric meters for each unit’s cooking gas and electricity. The furnace was replaced approximately 3 years ago, the hot water heater approximately 4 years ago, and the majority of windows approximately 15 years ago. Cypress Avenue is near the Cypress Avenue 6 train station, St. Mary's Park, shopping, restaurants, schools, and the Bruckner Expressway.
Exterior and utility features include a private driveway, fenced backyard access, public water and sewer, natural-gas heating, and separate gas and electric meters for each unit’s cooking gas and electricity. The furnace was replaced approximately 3 years ago, the hot water heater approximately 4 years ago, and the majority of windows approximately 15 years ago. Cypress Avenue is near the Cypress Avenue 6 train station, St. Mary's Park, shopping, restaurants, schools, and the Bruckner Expressway.
Key Highlights
- Fully vacant legal two‑family home built in 2000
- Approximately 2,280 square feet with 2 separate residences
- First‑floor unit includes 2 bedrooms and 1 full bath
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
6.44%
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 6.44%
Second Best
Apartment 5plus
$749.3K
$655.6K – $874.1K
NOI $52,448 @ 7.0% cap · market cap 5.83%
Theoretical Best
Warehouse
$1.58M
$1.38M – $1.84M
NOI $110,592 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,980
Businesses Nearby
Explore this area
Business Placement
Demographics for 10454, NY
40,232
Population
15,397
Households
2.6
Avg Household Size
33
Median Age
14%
College-Educated
62%
High-School Grad
1.1 sq mi
ZIP Area
36,575
Density / Sq Mi
$27,500
Median Household Income
$31,243
Median Earnings
$1,064
Median Rent
$780,800
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 - Legal two-family property with separate gas and electric meters, private parking, and backyard access.
Where is this duplex located?
The property is located at 288 Cypress Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Fully vacant legal two‑family home built in 2000; Approximately 2,280 square feet with 2 separate residences; First‑floor unit includes 2 bedrooms and 1 full bath
