Brick Two-Family
For Sale
$959,000
333 E 238th Street, Bronx, NY 10470
Legal two-unit home with separate apartments, finished lower-level space, and direct garage access.
Property Size3,307 SF
Price / SF$289.99
Days on Market12
Property Features for 333 E 238th Street
General Information
Standard status
Active
Size
3,307 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,120
Amenities
garage
laundry area
front garden
back yard
Building Details
Building Size
3,307 SF
Year Built
1929
Buildings
1
Construction
brick
Listing Agency:
Double C Realty
Listed By:
Kieran Dwyer
(914) 629-7649
Source:
Shawmetro
Added: Sep 8
Changed: Sep 12
Last Checked: Sep 18 at 12:46PM
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 Double C Realty
Investment Insights
Based on property information with market context.
This legal two-family brick duplex, built in 1929, contains two separate apartments with high ceilings, natural light, generous closets, and original architectural elements. The first-floor residence includes a living room, formal dining room, eat-in kitchen, bathroom, and two bedrooms. The upper apartment offers three bedrooms, an eat-in kitchen, bathroom, and substantial cabinetry. A finished lower level adds a full bathroom, laundry area, utility space, and direct access to the two-car garage. The property also includes a front garden, low-maintenance rear yard, and additional parking area.
Located at 333 E 238th Street in the Bronx’s Woodlawn Heights neighborhood, the home is a short distance from Metro-North service, local buses, Van Cortlandt Park, PS 19, and St. Barnabas Elementary. The property provides 3,307 SF of space in a residential setting with access to Manhattan and surrounding areas.
Located at 333 E 238th Street in the Bronx’s Woodlawn Heights neighborhood, the home is a short distance from Metro-North service, local buses, Van Cortlandt Park, PS 19, and St. Barnabas Elementary. The property provides 3,307 SF of space in a residential setting with access to Manhattan and surrounding areas.
Key Highlights
- Legal two‑family brick home with 3,307 SF
- Two apartments with two- and three‑bedroom layouts
- Finished lower level with full bathroom, laundry, and utility space
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
$84,003
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
8.76%
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%
$1,680,060
$1.7M
Cap Rate 7%
$1,200,043
$1.2M
Cap Rate 9%
$933,367
$933.4K
Market Conditions
NOI Build-Up for 3,307 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
$127.0K $38.40/SF
− Vacancy
−$7.0K −$2.11/SF
EGI
$120.0K $36.29/SF
− OpEx
−$36.0K −$10.89/SF
NOI
$84.0K $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%
$1,680,060
Cap Rate 7%
$1,200,043
Cap Rate 9%
$933,367
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $84,003 @ 7.0% cap · market cap 8.76%
Second Best
Apartment 5plus
$1.09M
$950.9K – $1.27M
NOI $76,073 @ 7.0% cap · market cap 7.93%
Theoretical Best
Warehouse
$2.29M
$2.01M – $2.67M
NOI $160,406 @ 7.0% cap · market cap 16.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,362
Businesses Nearby
Explore this area
Business Placement
Demographics for 10470, NY
16,686
Population
6,869
Households
2.4
Avg Household Size
38
Median Age
41%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
11,919
Density / Sq Mi
$81,134
Median Household Income
$54,227
Median Earnings
$1,656
Median Rent
$500,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Legal two-unit home with separate apartments, finished lower-level space, and direct garage access.
Where is this duplex located?
The property is located at 333 E 238th Street Bronx, NY.
What is the asking price?
The asking price for this property is $959,000.
What are key features of this property?
This property features: Legal two‑family brick home with 3,307 SF; Two apartments with two- and three‑bedroom layouts; Finished lower level with full bathroom, laundry, and utility space
