Duplex Property with Income
For Sale
$840,000
3605 Boller Avenue, Bronx, NY 10466
Two-family residence with private outdoor space, parking, and separate access for flexible occupancy or rental use.
Property Size2,092 SF
Days on Market28
Property Features for 3605 Boller Avenue
General Information
Standard status
Active
Size
2,092 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,427
Amenities
in-unit washer and dryer
private backyard
garage
private driveway
Building Details
Building Size
2,092 SF
Year Built
1995
Buildings
1
Units
2
Listing Agency:
YourHomeSold Guaranteed Realty
(914) 806-8934
Listed By:
Earl A. Pennant
(914) 806-8934
Source:
Alexandermadisonhomes
Added: Aug 3
Changed: Aug 29
Last Checked: Aug 25 at 9:08AM
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 YourHomeSold Guaranteed Realty
Investment Insights
Based on property information with market context.
Built in 1995, this two-family property combines a primary duplex residence with a separately entered second unit. The main home includes a living room, dining area, powder room, three bedrooms, a primary suite with private half bath, a full hall bathroom, and in-unit laundry. A sliding glass door connects the dining area to the private backyard.
The second residence has an open layout, two bedrooms, and one full bathroom. Additional improvements include a one-car garage, private driveway, and a roof installed one year ago. The property is in the Bronx near the #5 subway line, express bus service to Manhattan, and I-95, with shopping and dining at Bay Plaza and parks and schools nearby.
The second residence has an open layout, two bedrooms, and one full bathroom. Additional improvements include a one-car garage, private driveway, and a roof installed one year ago. The property is in the Bronx near the #5 subway line, express bus service to Manhattan, and I-95, with shopping and dining at Bay Plaza and parks and schools nearby.
Key Highlights
- Two‑family layout with a main duplex and separately entered second residence
- Main duplex includes 3 bedrooms, primary suite, 2 half baths, full hall bathroom, and in‑unit laundry
- Second unit offers 2 bedrooms, an open‑concept layout, and 1 full bathroom
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
$53,140
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
6.33%
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%
$1,062,800
$1.1M
Cap Rate 7%
$759,143
$759.1K
Cap Rate 9%
$590,444
$590.4K
Market Conditions
NOI Build-Up for 2,092 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
$80.3K $38.40/SF
− Vacancy
−$4.4K −$2.11/SF
EGI
$75.9K $36.29/SF
− OpEx
−$22.8K −$10.89/SF
NOI
$53.1K $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%
$1,062,800
Cap Rate 7%
$759,143
Cap Rate 9%
$590,444
Alternative Uses
Best Use
Multifamily LT 5
$759.1K
$664.3K – $885.7K
NOI $53,140 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$687.5K
$601.6K – $802.1K
NOI $48,124 @ 7.0% cap · market cap 5.73%
Theoretical Best
Warehouse
$1.45M
$1.27M – $1.69M
NOI $101,473 @ 7.0% cap · market cap 12.08%
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
1,708
Businesses Nearby
Explore this area
Business Placement
Demographics for 10466, NY
70,420
Population
26,303
Households
2.7
Avg Household Size
38
Median Age
26%
College-Educated
81%
High-School Grad
2.0 sq mi
ZIP Area
35,210
Density / Sq Mi
$66,328
Median Household Income
$44,053
Median Earnings
$1,528
Median Rent
$605,300
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-family residence with private outdoor space, parking, and separate access for flexible occupancy or rental use.
Where is this duplex located?
The property is located at 3605 Boller Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $840,000.
What are key features of this property?
This property features: Two‑family layout with a main duplex and separately entered second residence; Main duplex includes 3 bedrooms, primary suite, 2 half baths, full hall bathroom, and in‑unit laundry; Second unit offers 2 bedrooms, an open‑concept layout, and 1 full bathroom
