Detached Duplex With Two-Car
For Sale
$899,000
3071 Coddington Avenue, Bronx, NY 10461
Two apartments offer distinct bedroom layouts, eat-in kitchens, and spacious living rooms.
Property Size2,210 SF
Days on Market37
Property Features for 3071 Coddington Avenue
General Information
Standard status
Active
Size
2,210 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
1 x 1BR+office, 1 x 2BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,206
Building Details
Building Size
2,210 SF
Year Built
1920
Buildings
1
Units
2
Listing Agency:
Century 21 Kafcos Realty
(718) 518-9101
Listed By:
Gregory Kafcos
(718) 518-9101
Source:
Cohenandcohenrealty
Added: Jul 10
Changed: Aug 14
Last Checked: Aug 15 at 1:50PM
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 Century 21 Kafcos Realty
Investment Insights
Based on property information with market context.
Built in 1920, this detached duplex contains two separate apartments. The first-floor residence has one bedroom plus an office or nursery, while the upper apartment includes two bedrooms. Each unit features a living room, eat-in kitchen, and generously proportioned rooms.
A full unfinished basement provides laundry space, storage, and a separate entrance. The property also includes a detached two-car garage, an uncommon feature for this type of home. Set on a corner lot in the Pelham Bay section of the Bronx, the property is near transportation, shops, and restaurants.
A full unfinished basement provides laundry space, storage, and a separate entrance. The property also includes a detached two-car garage, an uncommon feature for this type of home. Set on a corner lot in the Pelham Bay section of the Bronx, the property is near transportation, shops, and restaurants.
Key Highlights
- Detached two‑family home on a corner lot
- First‑floor apartment with 1 bedroom plus an office or nursery
- Second‑floor apartment with 2 bedrooms
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
$56,138
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
6.24%
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%
$1,122,760
$1.1M
Cap Rate 7%
$801,971
$802.0K
Cap Rate 9%
$623,756
$623.8K
Market Conditions
NOI Build-Up for 2,210 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
$84.9K $38.40/SF
− Vacancy
−$4.7K −$2.11/SF
EGI
$80.2K $36.29/SF
− OpEx
−$24.1K −$10.89/SF
NOI
$56.1K $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%
$1,122,760
Cap Rate 7%
$801,971
Cap Rate 9%
$623,756
Alternative Uses
Best Use
Multifamily LT 5
$802.0K
$701.7K – $935.6K
NOI $56,138 @ 7.0% cap · market cap 6.24%
Second Best
Apartment 5plus
$726.3K
$635.5K – $847.3K
NOI $50,838 @ 7.0% cap · market cap 5.65%
Theoretical Best
Warehouse
$1.53M
$1.34M – $1.79M
NOI $107,196 @ 7.0% cap · market cap 11.92%
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
1,490
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 - Two apartments offer distinct bedroom layouts, eat-in kitchens, and spacious living rooms.
Where is this duplex located?
The property is located at 3071 Coddington 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: Detached two‑family home on a corner lot; First‑floor apartment with 1 bedroom plus an office or nursery; Second‑floor apartment with 2 bedrooms
