Two-Family Brick Home with Vacant
For Sale
$899,000
562 Underhill Avenue, Bronx, NY 10473
Detached brick two-family home on two lots, with one lot vacant and off-street parking potential.
Property Size2,250 SF
Lot Size0.11 Acres
Price / SF$399.56
Days on Market36
Property Features for 562 Underhill Avenue
General Information
Standard status
Active
Size
2,250 SF
Lot size
0.11 Acres
Property subtype
Duplex
Zoning
R5
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,033
Amenities
Natural Gas
No
Finished, Full, Walk-Out Access, Yes
Hardwood
Ceiling Fan(s), Covered, Entrance Foyer, Flats, Full, Hardwood Floors As Seen, Porch, Public
Ceiling Fan(s), Entrance Foyer
Walk Out Basement, Hardwood Floors As Seen, Entry Foyer, Foyer, Porch
Full
Brick
Covered, Porch
Covered, Porch, Parking Lot, Private, Full, Back Yard, Near Public Transit, Near School, Near Shops, Paved
Building Details
Year Built
1920
Stories
3
Construction
brick with frame dormer
Tenancy
Multi
Listing Agency:
Weichert Realtors Legacy Group
(718) 597-2300
Listed By:
Maria Porco Rosa
(718) 597-2300
Source:
Compass
Added: Jul 7
Changed: Aug 8
Last Checked: Jul 21 at 4:21AM
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 Weichert Realtors Legacy Group
Investment Insights
Based on property information with market context.
Rock solid detached two-family brick home with a frame dormer, set on two lots measuring 25 x 100 each. The structure is a tri-level layout currently configured as a large one-family home, with the first floor offering a covered front porch or sunroom and four-room living space including an eat-in kitchen, full bath, and a king-size bedroom with exterior access to a private covered rear porch. The finished lower level or walkout basement includes a full bath and four additional rooms.
The second floor consists of three rooms that were previously used as a two-bedroom, one-bath unit with a living room/kitchen combination. The property sits on one 25 x 100 lot with a second 25 x 100 lot fully vacant, creating room for new construction or expansion of the existing dwelling in an R5 zone. Convenient to NYC buses BX 27 and BX 39, shopping, and I-278 and I-95. The property is conveyed AS-IS, and taxes reflect both lots combined.
The second floor consists of three rooms that were previously used as a two-bedroom, one-bath unit with a living room/kitchen combination. The property sits on one 25 x 100 lot with a second 25 x 100 lot fully vacant, creating room for new construction or expansion of the existing dwelling in an R5 zone. Convenient to NYC buses BX 27 and BX 39, shopping, and I-278 and I-95. The property is conveyed AS-IS, and taxes reflect both lots combined.
Key Highlights
- Detached brick two‑family home on two lots (each 25 x 100), totaling 5,000 SF; one lot is fully vacant for new construction or expansion (R5 zone).
- Tri‑level layout with a finished full walk‑out basement; basement is approximately 900 SF and includes a full bath plus four additional rooms.
- Hardwood floors (as seen) and an entrance foyer with ceiling fans; covered front porch/sunroom and covered rear porch access.
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
$57,154
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
6.36%
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%
$1,143,080
$1.1M
Cap Rate 7%
$816,486
$816.5K
Cap Rate 9%
$635,044
$635.0K
Market Conditions
NOI Build-Up for 2,250 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
$86.4K $38.40/SF
− Vacancy
−$4.8K −$2.11/SF
EGI
$81.6K $36.29/SF
− OpEx
−$24.5K −$10.89/SF
NOI
$57.2K $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%
$1,143,080
Cap Rate 7%
$816,486
Cap Rate 9%
$635,044
Alternative Uses
Best Use
Multifamily LT 5
$816.5K
$714.4K – $952.6K
NOI $57,154 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$739.4K
$647.0K – $862.6K
NOI $51,758 @ 7.0% cap · market cap 5.76%
Theoretical Best
Warehouse
$1.56M
$1.36M – $1.82M
NOI $109,136 @ 7.0% cap · market cap 12.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,363
Businesses Nearby
Explore this area
Business Placement
Demographics for 10473, NY
62,692
Population
23,234
Households
2.7
Avg Household Size
38
Median Age
24%
College-Educated
75%
High-School Grad
2.1 sq mi
ZIP Area
29,853
Density / Sq Mi
$50,609
Median Household Income
$40,049
Median Earnings
$1,131
Median Rent
$586,800
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 - Detached brick two-family home on two lots, with one lot vacant and off-street parking potential.
Where is this duplex located?
The property is located at 562 Underhill Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Detached brick two‑family home on two lots (each 25 x 100), totaling 5,000 SF; one lot is fully vacant for new construction or expansion (R5 zone).; Tri‑level layout with a finished full walk‑out basement; basement is approximately 900 SF and includes a full bath plus four additional rooms.; Hardwood floors (as seen) and an entrance foyer with ceiling fans; covered front porch/sunroom and covered rear porch access.
