Brick Duplex Property with
For Sale
$899,000
3303 Barnes Avenue, Bronx, NY 10467
Two residential apartments are complemented by finished walk-out basement space, a private driveway, and recent mechanical upgrades.
Property Size2,900 SF
Days on Market111
Property Features for 3303 Barnes Avenue
General Information
Standard status
Active
Size
2,900 SF
Total Parking Spaces
2
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,978
Amenities
garage
driveway
finished walk-out basement
summer kitchen
Building Details
Building Size
2,900 SF
Year Built
1970
Buildings
1
Units
2
Construction
brick
Listing Agency:
Morris Park Realty Group
(718) 881-1923
Listed By:
Joseph Cosentino · License #10311205741
(718) 881-1923
Source:
Maurafinnegan
Added: May 12
Changed: Aug 28
Last Checked: Aug 29 at 10:21AM
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 Morris Park Realty Group
Investment Insights
Based on property information with market context.
This brick duplex property, built in 1970, contains a 3-bedroom, 1-bath apartment above a 2-bedroom, 1-bath apartment. The lower apartment includes a renovated kitchen and updated bathroom. A finished walk-out basement adds flexible space and includes a summer kitchen. Recent improvements include a new gas heating boiler and new hot water heater. The property also has a private driveway and garage.
Located at 3303 Barnes Avenue in the Bronx’s Burke Avenue section, the property is near the Burke Ave #2 train station, public transportation, schools, shopping, retail stores, restaurants, and major highways.
Located at 3303 Barnes Avenue in the Bronx’s Burke Avenue section, the property is near the Burke Ave #2 train station, public transportation, schools, shopping, retail stores, restaurants, and major highways.
Key Highlights
- Two‑apartment layout with 3‑bedroom and 2‑bedroom residences
- 3‑bedroom, 1‑bath apartment paired with a 2‑bedroom, 1‑bath apartment
- Renovated kitchen and updated bathroom in the 2‑bedroom apartment
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
$70,607
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
7.85%
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%
$1,412,140
$1.4M
Cap Rate 7%
$1,008,671
$1.0M
Cap Rate 9%
$784,522
$784.5K
Market Conditions
NOI Build-Up for 2,900 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
$107.9K $37.20/SF
− Vacancy
−$7.0K −$2.42/SF
EGI
$100.9K $34.78/SF
− OpEx
−$30.3K −$10.43/SF
NOI
$70.6K $24.35/SF
Area
ZIP 10467
Vacancy
6.50%
Lease Rate
$37.20 /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%
$1,412,140
Cap Rate 7%
$1,008,671
Cap Rate 9%
$784,522
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$882.6K – $1.18M
NOI $70,607 @ 7.0% cap · market cap 7.85%
Second Best
Apartment 5plus
$901.5K
$788.8K – $1.05M
NOI $63,105 @ 7.0% cap · market cap 7.02%
Theoretical Best
Warehouse
$2.01M
$1.76M – $2.34M
NOI $140,665 @ 7.0% cap · market cap 15.65%
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
2,652
Businesses Nearby
Explore this area
Business Placement
Demographics for 10467, NY
103,660
Population
40,582
Households
2.6
Avg Household Size
36
Median Age
22%
College-Educated
75%
High-School Grad
2.3 sq mi
ZIP Area
45,070
Density / Sq Mi
$47,806
Median Household Income
$36,949
Median Earnings
$1,505
Median Rent
$425,500
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 residential apartments are complemented by finished walk-out basement space, a private driveway, and recent mechanical upgrades.
Where is this duplex located?
The property is located at 3303 Barnes 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: Two‑apartment layout with 3‑bedroom and 2‑bedroom residences; 3‑bedroom, 1‑bath apartment paired with a 2‑bedroom, 1‑bath apartment; Renovated kitchen and updated bathroom in the 2‑bedroom apartment
