Three-Story Brick
New
For Sale
$950,000
621 Commonwealth Avenue, Bronx, NY 10473
Vacant delivery includes separate electric and gas meters, a private driveway, garage, and fenced backyard.
Property Size2,800 SF
Lot Size0.05 Acres
Price / SF$339.29
Days on Market4
Property Features for 621 Commonwealth Avenue
General Information
Standard status
Active
Size
2,800 SF
Lot size
0.05 Acres
Property subtype
Multi-Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Amenities
private driveway
garage
fenced backyard
laundry
Building Details
Year Built
1960
Buildings
1
Stories
3
Construction
brick
Listing Agency:
BHG RE Shore & Country Prop.
Listed By:
Yasmina Bailey · License #KEY54761
(203) 504-5005
Source:
Remaxedgenyc
Added: Sep 19
Last Checked: Sep 21 at 4:23AM
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 BHG RE Shore & Country Prop.
Investment Insights
Based on property information with market context.
This three-story brick duplex at 621 Commonwealth Avenue contains approximately 2,800 square feet on a 2,200-square-foot lot and is legally recorded as a two-family property. The layout includes 7 bedrooms and 3 full bathrooms, with one bedroom and bath on the first floor and three bedrooms and one bath on each upper level. Multiple living areas, kitchens, hardwood and tile flooring, gas baseboard heat, and separate electric and gas meters are included. The property was built in 1960.
Exterior features include a private driveway, garage laundry, and a fully fenced backyard. The home is situated in the Soundview neighborhood near neighborhood shopping, public transportation, and nearby parks. Delivery will be vacant, subject to the seller finding suitable housing. Buyers should complete their own review of the current configuration and permitted use.
Exterior features include a private driveway, garage laundry, and a fully fenced backyard. The home is situated in the Soundview neighborhood near neighborhood shopping, public transportation, and nearby parks. Delivery will be vacant, subject to the seller finding suitable housing. Buyers should complete their own review of the current configuration and permitted use.
Key Highlights
- Approximately 2,800 square feet on a 2,200‑square‑foot lot
- 7 bedrooms and 3 full bathrooms across three levels
- Legally recorded as a two‑family property
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
$71,124
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
7.49%
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%
$1,422,480
$1.4M
Cap Rate 7%
$1,016,057
$1.0M
Cap Rate 9%
$790,267
$790.3K
Market Conditions
NOI Build-Up for 2,800 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
$107.5K $38.40/SF
− Vacancy
−$5.9K −$2.11/SF
EGI
$101.6K $36.29/SF
− OpEx
−$30.5K −$10.89/SF
NOI
$71.1K $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%
$1,422,480
Cap Rate 7%
$1,016,057
Cap Rate 9%
$790,267
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$889.1K – $1.19M
NOI $71,124 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$920.1K
$805.1K – $1.07M
NOI $64,410 @ 7.0% cap · market cap 6.78%
Theoretical Best
Warehouse
$1.94M
$1.70M – $2.26M
NOI $135,814 @ 7.0% cap · market cap 14.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,301
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant delivery includes separate electric and gas meters, a private driveway, garage, and fenced backyard.
Where is this duplex located?
The property is located at 621 Commonwealth Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Approximately 2,800 square feet on a 2,200‑square‑foot lot; 7 bedrooms and 3 full bathrooms across three levels; Legally recorded as a two‑family property
