Updated Duplex with Finished
For Sale
$949,000
4523 Monticello Avenue, Bronx, NY 10466
Two-family home includes a second-floor apartment, finished lower level, private driveway, and backyard.
Property Size2,040 SF
Days on Market59
Property Features for 4523 Monticello Avenue
General Information
Standard status
Active
Size
2,040 SF
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,254
Building Details
Building Size
2,040 SF
Year Built
1920
Buildings
1
Units
2
Listing Agency:
YourHomeSold Guaranteed Realty
(914) 618-0885
Listed By:
Bridget Smith-Osbourne
(914) 618-0885
Source:
Mahlerrealty
Added: Jul 1
Changed: Aug 28
Last Checked: Aug 25 at 9:22AM
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.
This detached duplex, built in 1920, provides a primary residence with two bedrooms, a bonus room, an eat-in kitchen, and a full bath with a jetted tub. Hardwood flooring, crown molding, recessed lighting, custom cabinetry, granite countertops, and a custom wardrobe add detail to the owner’s unit. The second-floor apartment includes two bedrooms, a living room, an eat-in kitchen, and a full bath. A fully finished basement with a private side entrance adds two finished rooms, a full bath, and flexible space.
Major updates include a roof approximately four years old, a boiler and hot water heater approximately two years old, updated siding, windows, and electrical service. The property also offers a private driveway with parking for multiple vehicles and a private backyard. Located on Monticello Avenue in the Bronx, the home is near schools, shopping, parks, Metro-North, and public transportation.
Major updates include a roof approximately four years old, a boiler and hot water heater approximately two years old, updated siding, windows, and electrical service. The property also offers a private driveway with parking for multiple vehicles and a private backyard. Located on Monticello Avenue in the Bronx, the home is near schools, shopping, parks, Metro-North, and public transportation.
Key Highlights
- Detached duplex with two‑bedroom owner’s unit and separate two‑bedroom second‑floor apartment
- Fully finished basement with private side entrance, two finished rooms, and full bath
- Roof approximately four years old; boiler and hot water heater approximately two years old
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
$51,819
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
5.46%
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%
$1,036,380
$1.0M
Cap Rate 7%
$740,271
$740.3K
Cap Rate 9%
$575,767
$575.8K
Market Conditions
NOI Build-Up for 2,040 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
$78.3K $38.40/SF
− Vacancy
−$4.3K −$2.11/SF
EGI
$74.0K $36.29/SF
− OpEx
−$22.2K −$10.89/SF
NOI
$51.8K $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%
$1,036,380
Cap Rate 7%
$740,271
Cap Rate 9%
$575,767
Alternative Uses
Best Use
Multifamily LT 5
$740.3K
$647.7K – $863.7K
NOI $51,819 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$670.4K
$586.6K – $782.1K
NOI $46,927 @ 7.0% cap · market cap 4.94%
Theoretical Best
Warehouse
$1.41M
$1.24M – $1.65M
NOI $98,950 @ 7.0% cap · market cap 10.43%
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
2,130
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 home includes a second-floor apartment, finished lower level, private driveway, and backyard.
Where is this duplex located?
The property is located at 4523 Monticello Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Detached duplex with two‑bedroom owner’s unit and separate two‑bedroom second‑floor apartment; Fully finished basement with private side entrance, two finished rooms, and full bath; Roof approximately four years old; boiler and hot water heater approximately two years old
