Brick Two-Family
For Sale
$699,000
712 E 232nd Street, Bronx, NY 10466
Semi-attached residential income property with two apartments, private outdoor areas, and an unfinished basement.
Property Size1,676 SF
Price / SF$417.06
Days on Market9
Property Features for 712 E 232nd Street
General Information
Standard status
Active
Size
1,676 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$5,154
Building Details
Building Size
1,676 SF
Year Built
1955
Listing Agency:
Iconic Pros
Listed By:
Evelyn Garcia · License #1.04E+11
(917) 667-5719
Source:
Shawmetro
Added: Sep 14
Changed: Sep 20
Last Checked: Sep 21 at 8:26AM
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 Iconic Pros
Investment Insights
Based on property information with market context.
This semi-attached brick two-family property contains 1,676 square feet and was built in 1955. The first-floor apartment offers one bedroom, one full bathroom, a living room, flexible office space, and substantial closet storage. A one-year lease is currently in place for that unit. Upstairs, the two-bedroom apartment includes a full bathroom, living area, eat-in kitchen, hardwood floors, and a private porch. Both apartments feature hardwood flooring.
The property includes a fully fenced backyard and an unfinished basement for storage or future customization. Heating is provided by an above-ground oil system. Located at 712 E 232nd Street in the Bronx, the home is near public transportation, shopping, restaurants, grocery stores, parks, and schools, with access to Manhattan and nearby destinations including the New York Botanical Garden, Bronx Zoo, and Yankee Stadium.
The property includes a fully fenced backyard and an unfinished basement for storage or future customization. Heating is provided by an above-ground oil system. Located at 712 E 232nd Street in the Bronx, the home is near public transportation, shopping, restaurants, grocery stores, parks, and schools, with access to Manhattan and nearby destinations including the New York Botanical Garden, Bronx Zoo, and Yankee Stadium.
Key Highlights
- Two‑family property with 1,676 square feet, built in 1955
- First‑floor 1‑bedroom, 1‑bathroom apartment has a current one‑year lease
- Second‑floor 2‑bedroom, 1‑bathroom apartment includes an eat‑in kitchen and private porch
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
$42,573
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
6.09%
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%
$851,460
$851.5K
Cap Rate 7%
$608,186
$608.2K
Cap Rate 9%
$473,033
$473.0K
Market Conditions
NOI Build-Up for 1,676 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
$64.4K $38.40/SF
− Vacancy
−$3.5K −$2.11/SF
EGI
$60.8K $36.29/SF
− OpEx
−$18.2K −$10.89/SF
NOI
$42.6K $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%
$851,460
Cap Rate 7%
$608,186
Cap Rate 9%
$473,033
Alternative Uses
Best Use
Multifamily LT 5
$608.2K
$532.2K – $709.6K
NOI $42,573 @ 7.0% cap · market cap 6.09%
Second Best
Apartment 5plus
$550.8K
$481.9K – $642.6K
NOI $38,554 @ 7.0% cap · market cap 5.52%
Theoretical Best
Warehouse
$1.16M
$1.02M – $1.35M
NOI $81,295 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,747
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
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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 - Semi-attached residential income property with two apartments, private outdoor areas, and an unfinished basement.
Where is this duplex located?
The property is located at 712 E 232nd Street Bronx, NY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two‑family property with 1,676 square feet, built in 1955; First‑floor 1‑bedroom, 1‑bathroom apartment has a current one‑year lease; Second‑floor 2‑bedroom, 1‑bathroom apartment includes an eat‑in kitchen and private porch
