Renovated Two-Family
For Sale
$869,000
4017 Ely Avenue, Bronx, NY 10466
Two residential units offer open-concept living areas, updated systems, private parking, and modern kitchen and bath finishes.
Property Size1,920 SF
Price / SF$452.60
Days on Market10
Property Features for 4017 Ely Avenue
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$6,325
Building Details
Building Size
1,920 SF
Year Built
1955
Listing Agency:
Keystone Realty USA Corp
(347) 419-5268
Listed By:
Gabriel Kashi
Source:
Shawmetro
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 28 at 9:11PM
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 Keystone Realty USA Corp
Investment Insights
Based on property information with market context.
This renovated two-family duplex includes a three-bedroom upper residence and a two-bedroom walk-in unit. Both apartments feature open-concept living and dining areas, modern kitchens with granite counters, custom floor-to-ceiling cabinetry, and stainless steel appliances. Additional interior improvements include wide oak flooring, recessed lighting, updated electrical, heating, and plumbing systems, along with fully tiled bathrooms and substantial closet storage. A private driveway serves the property.
The home is located on Ely Avenue in Wakefield, with access to major transportation and nearby streets including East 233rd Street, Edenwald Avenue, Paulding Avenue, and Laconia Avenue. Schools, shopping centers, restaurants, cafés, and parks are located within the surrounding area. The property was built in 1955 and presents a two-unit residential configuration suited to buyers seeking rental income from a multifamily asset.
The home is located on Ely Avenue in Wakefield, with access to major transportation and nearby streets including East 233rd Street, Edenwald Avenue, Paulding Avenue, and Laconia Avenue. Schools, shopping centers, restaurants, cafés, and parks are located within the surrounding area. The property was built in 1955 and presents a two-unit residential configuration suited to buyers seeking rental income from a multifamily asset.
Key Highlights
- Two‑family layout with a 3‑bedroom upper unit and 2‑bedroom walk‑in unit
- Renovated interiors with wide oak flooring and recessed lighting
- Granite kitchens with custom cabinetry and stainless steel appliances
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
$48,771
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
5.61%
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%
$975,420
$975.4K
Cap Rate 7%
$696,729
$696.7K
Cap Rate 9%
$541,900
$541.9K
Market Conditions
NOI Build-Up for 1,920 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
$73.7K $38.40/SF
− Vacancy
−$4.1K −$2.11/SF
EGI
$69.7K $36.29/SF
− OpEx
−$20.9K −$10.89/SF
NOI
$48.8K $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%
$975,420
Cap Rate 7%
$696,729
Cap Rate 9%
$541,900
Alternative Uses
Best Use
Multifamily LT 5
$696.7K
$609.6K – $812.9K
NOI $48,771 @ 7.0% cap · market cap 5.61%
Second Best
Apartment 5plus
$631.0K
$552.1K – $736.1K
NOI $44,167 @ 7.0% cap · market cap 5.08%
Theoretical Best
Warehouse
$1.33M
$1.16M – $1.55M
NOI $93,130 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 residential units offer open-concept living areas, updated systems, private parking, and modern kitchen and bath finishes.
Where is this duplex located?
The property is located at 4017 Ely Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $869,000.
What are key features of this property?
This property features: Two‑family layout with a 3‑bedroom upper unit and 2‑bedroom walk‑in unit; Renovated interiors with wide oak flooring and recessed lighting; Granite kitchens with custom cabinetry and stainless steel appliances
