Two-Unit Duplex
For Sale
$895,000
2889 Zulette Avenue, Bronx, NY 10461
Owner-occupant layout pairs a larger three-bedroom residence with a separate two-bedroom unit.
Property Size1,800 SF
Days on Market51
Property Features for 2889 Zulette Avenue
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$6,016
Building Details
Building Size
1,800 SF
Year Built
1925
Listing Agency:
RE/MAX Distinguished Hms.&Prop
(914) 346-8255
Listed By:
Christine A Naber · License #10401285138
Source:
Serhant
Added: Jun 26
Changed: Aug 13
Last Checked: Aug 15 at 12:15PM
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 RE/MAX Distinguished Hms.&Prop
Investment Insights
Based on property information with market context.
This two-family duplex contains approximately 1,800 square feet across two residences, including a three-bedroom upper unit and a separate two-bedroom unit below. Constructed in 1925, the property offers a configuration suited to an owner-occupant arrangement with distinct living spaces within one home.
The property is located at 2889 Zulette Avenue in the Bronx’s Schuylerville neighborhood. Major transit, parkways, shopping, and dining are nearby, while Pelham Bay Park is also within easy reach.
The property is located at 2889 Zulette Avenue in the Bronx’s Schuylerville neighborhood. Major transit, parkways, shopping, and dining are nearby, while Pelham Bay Park is also within easy reach.
Key Highlights
- Two‑family duplex with 1,800 sq ft of interior space
- Separate 3‑bedroom and 2‑bedroom units
- Built in 1925
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
$45,723
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
5.11%
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%
$914,460
$914.5K
Cap Rate 7%
$653,186
$653.2K
Cap Rate 9%
$508,033
$508.0K
Market Conditions
NOI Build-Up for 1,800 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
$69.1K $38.40/SF
− Vacancy
−$3.8K −$2.11/SF
EGI
$65.3K $36.29/SF
− OpEx
−$19.6K −$10.89/SF
NOI
$45.7K $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%
$914,460
Cap Rate 7%
$653,186
Cap Rate 9%
$508,033
Alternative Uses
Best Use
Multifamily LT 5
$653.2K
$571.5K – $762.1K
NOI $45,723 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$591.5K
$517.6K – $690.1K
NOI $41,407 @ 7.0% cap · market cap 4.63%
Theoretical Best
Warehouse
$1.25M
$1.09M – $1.46M
NOI $87,309 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,348
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 - Owner-occupant layout pairs a larger three-bedroom residence with a separate two-bedroom unit.
Where is this duplex located?
The property is located at 2889 Zulette Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Two‑family duplex with 1,800 sq ft of interior space; Separate 3‑bedroom and 2‑bedroom units; Built in 1925
