Updated Two-Family
New
For Sale
$899,000
2977 Harding Ave The, Bronx, NY 10465
A separate-entry lower level includes a full kitchen, bathroom, and additional living space.
Property Size1,600 SF
Days on Market2
Property Features for 2977 Harding Ave The
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,837
Amenities
private yard
washer dryer hook ups
Building Details
Building Size
1,600 SF
Year Built
1925
Units
2
Listing Agency:
Amerihome Realty Corp.
Listed By:
Edward J. Gallagher · License #10401210553
(917) 613-0818
Source:
Elliman
Added: Sep 1
Last Checked: Sep 1 at 8:28PM
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 Amerihome Realty Corp.
Investment Insights
Based on property information with market context.
This legal two-family duplex, built in 1925, combines updated kitchens and bathrooms with hardwood flooring and abundant natural light. The lower level provides additional living space, a full kitchen, a bathroom, and its own entrance. Washer and dryer hookups are also included.
Exterior features include a private yard, rear parking, and a garage. The property is located at 2977 Harding Ave in The Bronx, near major highways and transportation, with shopping, dining, schools, and surrounding communities accessible from the property. WalkScore is 76, BikeScore is 48, and TransitScore is 49.
Exterior features include a private yard, rear parking, and a garage. The property is located at 2977 Harding Ave in The Bronx, near major highways and transportation, with shopping, dining, schools, and surrounding communities accessible from the property. WalkScore is 76, BikeScore is 48, and TransitScore is 49.
Key Highlights
- Legal two‑family property built in 1925
- Lower level with full kitchen, bathroom, additional living space, and separate entrance
- Updated kitchens and bathrooms with hardwood floors
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
$40,643
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
4.52%
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%
$812,860
$812.9K
Cap Rate 7%
$580,614
$580.6K
Cap Rate 9%
$451,589
$451.6K
Market Conditions
NOI Build-Up for 1,600 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
$61.4K $38.40/SF
− Vacancy
−$3.4K −$2.11/SF
EGI
$58.1K $36.29/SF
− OpEx
−$17.4K −$10.89/SF
NOI
$40.6K $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%
$812,860
Cap Rate 7%
$580,614
Cap Rate 9%
$451,589
Alternative Uses
Best Use
Multifamily LT 5
$580.6K
$508.0K – $677.4K
NOI $40,643 @ 7.0% cap · market cap 4.52%
Second Best
Apartment 5plus
$525.8K
$460.1K – $613.4K
NOI $36,806 @ 7.0% cap · market cap 4.09%
Theoretical Best
Warehouse
$1.11M
$970.1K – $1.29M
NOI $77,608 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
Explore this area
Business Placement
Demographics for 10465, NY
45,799
Population
17,200
Households
2.7
Avg Household Size
40
Median Age
29%
College-Educated
86%
High-School Grad
3.9 sq mi
ZIP Area
11,743
Density / Sq Mi
$90,255
Median Household Income
$52,787
Median Earnings
$1,774
Median Rent
$602,000
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 - A separate-entry lower level includes a full kitchen, bathroom, and additional living space.
Where is this duplex located?
The property is located at 2977 Harding Ave The 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: Legal two‑family property built in 1925; Lower level with full kitchen, bathroom, additional living space, and separate entrance; Updated kitchens and bathrooms with hardwood floors
