Renovated Brick
For Sale
$1,149,000
651 Saint Lawrence Avenue, Bronx, NY 10473
Two private-entry units offer separate utilities, storage, and access to a backyard.
Property Size2,360 SF
Days on Market122
Property Features for 651 Saint Lawrence Avenue
General Information
Standard status
Active
Size
2,360 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$6,681
Building Details
Building Size
2,360 SF
Year Built
1925
Listing Agency:
Keystone Realty USA Corp
(347) 419-5268
Listed By:
Gabriel Kashi
Source:
Serhant
Added: Apr 30
Changed: Aug 28
Last Checked: Aug 26 at 2:53PM
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.
Built in 1925, this brick duplex has been renovated and contains two residential units with private entrances and separate utilities. Both units feature bright, well-proportioned rooms, while the property adds a full basement, storage space, and a backyard.
The home sits near shopping, dining, schools, parks, restaurants, cafes, and shopping centers. Public transportation and major highways are also nearby, with the property positioned just off Seward Avenue, Soundview Avenue, Rosedale Avenue, and Lafayette Avenue.
The home sits near shopping, dining, schools, parks, restaurants, cafes, and shopping centers. Public transportation and major highways are also nearby, with the property positioned just off Seward Avenue, Soundview Avenue, Rosedale Avenue, and Lafayette Avenue.
Key Highlights
- Renovated brick duplex with two residential units
- Separate utilities and private entrances for each unit
- Full basement with additional storage space
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
$59,948
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
5.22%
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%
$1,198,960
$1.2M
Cap Rate 7%
$856,400
$856.4K
Cap Rate 9%
$666,089
$666.1K
Market Conditions
NOI Build-Up for 2,360 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
$90.6K $38.40/SF
− Vacancy
−$5.0K −$2.11/SF
EGI
$85.6K $36.29/SF
− OpEx
−$25.7K −$10.89/SF
NOI
$59.9K $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%
$1,198,960
Cap Rate 7%
$856,400
Cap Rate 9%
$666,089
Alternative Uses
Best Use
Multifamily LT 5
$856.4K
$749.4K – $999.1K
NOI $59,948 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$775.6K
$678.6K – $904.8K
NOI $54,289 @ 7.0% cap · market cap 4.72%
Theoretical Best
Warehouse
$1.64M
$1.43M – $1.91M
NOI $114,472 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,266
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 - Two private-entry units offer separate utilities, storage, and access to a backyard.
Where is this duplex located?
The property is located at 651 Saint Lawrence Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: Renovated brick duplex with two residential units; Separate utilities and private entrances for each unit; Full basement with additional storage space
