Duplex with Finished
For Sale
$1,450,000
3439 Grace Avenue, Bronx, NY 10469
Two independent units offer four bedrooms and two bathrooms each, with private primary suites and en-suite baths.
Property Size2,746 SF
Days on Market45
Property Features for 3439 Grace Avenue
General Information
Standard status
Active
Size
2,746 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 4BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,277
Amenities
private balcony
Building Details
Building Size
2,746 SF
Year Built
1950
Buildings
1
Units
2
Listing Agency:
1st American One NYC LTD
(516) 376-9720
Listed By:
Marc Dori
(516) 376-9720
Source:
Cornerstonemyhome
Added: Jul 16
Changed: Aug 27
Last Checked: Aug 28 at 11:29AM
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 1st American One NYC LTD
Investment Insights
Based on property information with market context.
This legal two-family duplex at 3439 Grace Ave includes two independent residential levels, each measuring 1,373 square feet with four bedrooms and two full bathrooms. Both units feature a primary bedroom with a private en-suite bath, while the second-floor residence also provides access to a private balcony. A finished basement with its own entrance and one full bathroom adds flexible lower-level space.
The property includes brand-new plumbing, electrical, HVAC, and roofing systems. Its Bronx location places the home near shopping, dining, parks, schools, and major transportation connections. The two-unit layout supports either owner occupancy with additional residential space or use as a fully leased multifamily property, consistent with the legal two-family configuration.
The property includes brand-new plumbing, electrical, HVAC, and roofing systems. Its Bronx location places the home near shopping, dining, parks, schools, and major transportation connections. The two-unit layout supports either owner occupancy with additional residential space or use as a fully leased multifamily property, consistent with the legal two-family configuration.
Key Highlights
- Legal two‑family duplex with two independent residential levels
- Each unit offers 1,373 square feet, 4 bedrooms, and 2 full bathrooms
- Primary bedroom with private en‑suite bath in both units
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
$69,753
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
4.81%
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%
$1,395,060
$1.4M
Cap Rate 7%
$996,471
$996.5K
Cap Rate 9%
$775,033
$775.0K
Market Conditions
NOI Build-Up for 2,746 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
$105.4K $38.40/SF
− Vacancy
−$5.8K −$2.11/SF
EGI
$99.6K $36.29/SF
− OpEx
−$29.9K −$10.89/SF
NOI
$69.8K $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%
$1,395,060
Cap Rate 7%
$996,471
Cap Rate 9%
$775,033
Alternative Uses
Best Use
Multifamily LT 5
$996.5K
$871.9K – $1.16M
NOI $69,753 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$902.4K
$789.6K – $1.05M
NOI $63,168 @ 7.0% cap · market cap 4.36%
Theoretical Best
Warehouse
$1.90M
$1.66M – $2.22M
NOI $133,195 @ 7.0% cap · market cap 9.19%
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
1,727
Businesses Nearby
Explore this area
Business Placement
Demographics for 10469, NY
71,571
Population
25,082
Households
2.9
Avg Household Size
39
Median Age
29%
College-Educated
83%
High-School Grad
2.4 sq mi
ZIP Area
29,821
Density / Sq Mi
$76,018
Median Household Income
$45,857
Median Earnings
$1,653
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 independent units offer four bedrooms and two bathrooms each, with private primary suites and en-suite baths.
Where is this duplex located?
The property is located at 3439 Grace Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Legal two‑family duplex with two independent residential levels; Each unit offers 1,373 square feet, 4 bedrooms, and 2 full bathrooms; Primary bedroom with private en‑suite bath in both units
