Renovated Two-Family
For Sale
$899,000
681 E 243rd Street, Bronx, NY 10470
Detached two-family property with updated interiors, a private backyard, and additional finished lower-level living space.
Property Size1,896 SF
Price / SF$474.16
Days on Market9
Property Features for 681 E 243rd Street
General Information
Standard status
Active
Size
1,896 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 4BR, 1 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,872
Amenities
private backyard
Building Details
Building Size
1,896 SF
Year Built
1910
Listing Agency:
YourHomeSold Guaranteed Realty
(917) 659-1325
Listed By:
Nicole Taliafero
Source:
Shawmetro
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 12 at 2:49PM
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 1910, has been fully renovated and arranged with a four-bedroom apartment above a three-bedroom apartment. A finished lower level adds a separate one-bedroom layout, creating multiple residential configurations within the property. Modern updates and a private backyard complement the interior improvements.
The property is located near shopping, schools, public transportation, parks, and major highways. Its Bronx setting and two-family layout provide a clear residential income-property profile with additional finished space for flexible use.
The property is located near shopping, schools, public transportation, parks, and major highways. Its Bronx setting and two-family layout provide a clear residential income-property profile with additional finished space for flexible use.
Key Highlights
- Fully renovated detached duplex built in 1910
- Four‑bedroom apartment over a three‑bedroom apartment
- Finished lower level with a one‑bedroom layout
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
$48,161
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
5.36%
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%
$963,220
$963.2K
Cap Rate 7%
$688,014
$688.0K
Cap Rate 9%
$535,122
$535.1K
Market Conditions
NOI Build-Up for 1,896 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
$72.8K $38.40/SF
− Vacancy
−$4.0K −$2.11/SF
EGI
$68.8K $36.29/SF
− OpEx
−$20.6K −$10.89/SF
NOI
$48.2K $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%
$963,220
Cap Rate 7%
$688,014
Cap Rate 9%
$535,122
Alternative Uses
Best Use
Multifamily LT 5
$688.0K
$602.0K – $802.7K
NOI $48,161 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$623.1K
$545.2K – $726.9K
NOI $43,615 @ 7.0% cap · market cap 4.85%
Theoretical Best
Warehouse
$1.31M
$1.15M – $1.53M
NOI $91,966 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,372
Businesses Nearby
Explore this area
Business Placement
Demographics for 10470, NY
16,686
Population
6,869
Households
2.4
Avg Household Size
38
Median Age
41%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
11,919
Density / Sq Mi
$81,134
Median Household Income
$54,227
Median Earnings
$1,656
Median Rent
$500,400
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 two-family property with updated interiors, a private backyard, and additional finished lower-level living space.
Where is this duplex located?
The property is located at 681 E 243rd Street 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: Fully renovated detached duplex built in 1910; Four‑bedroom apartment over a three‑bedroom apartment; Finished lower level with a one‑bedroom layout
