Detached Brick Duplex With
For Sale
$899,000
Pending
778 Adee Ave The, Bronx, NY 10467
Two-unit layout includes separate mechanical systems and private outdoor space.
Property Size1,800 SF
Days on Market41
Property Features for 778 Adee Ave The
General Information
Standard status
Pending
Size
1,800 SF
Total Parking Spaces
5
Property subtype
Investment
Zoning
R6
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,802
Amenities
finished walk-out basement
granite countertops
private backyard
Building Details
Building Size
1,800 SF
Year Built
1930
Buildings
1
Units
3
Construction
brick
Tenancy
Multi
Listing Agency:
Sysak Sells LLC
Listed By:
Michelle Sysak
(646) 372-7936
Source:
Elliman
Added: Aug 17
Changed: Sep 20
Last Checked: Sep 26 at 9:31AM
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 Sysak Sells LLC
Investment Insights
Based on property information with market context.
Located at 778 Adee Ave in the Bronx, this fully detached brick duplex contains two two-bedroom units and a finished walk-out basement. Each residence has its own boiler and hot water tank, while granite countertops add a durable finish to the kitchens. The basement provides additional finished area for living, recreation, or storage use.
The property includes a garage with capacity for 2 vehicles, a private driveway for up to three more vehicles, and a paved backyard suited to outdoor use. Tenancy is established, with both tenants reported to have a history of on-time payments. Public transportation and major highways are readily accessible, and the property is designated R6 zoning.
The property includes a garage with capacity for 2 vehicles, a private driveway for up to three more vehicles, and a paved backyard suited to outdoor use. Tenancy is established, with both tenants reported to have a history of on-time payments. Public transportation and major highways are readily accessible, and the property is designated R6 zoning.
Key Highlights
- Two two‑bedroom units in a fully detached brick duplex
- Finished walk‑out basement with additional usable area
- Separate boiler and hot water tank for each unit
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
$43,825
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
4.87%
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%
$876,500
$876.5K
Cap Rate 7%
$626,071
$626.1K
Cap Rate 9%
$486,944
$486.9K
Market Conditions
NOI Build-Up for 1,800 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
$67.0K $37.20/SF
− Vacancy
−$4.4K −$2.42/SF
EGI
$62.6K $34.78/SF
− OpEx
−$18.8K −$10.43/SF
NOI
$43.8K $24.35/SF
Area
ZIP 10467
Vacancy
6.50%
Lease Rate
$37.20 /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%
$876,500
Cap Rate 7%
$626,071
Cap Rate 9%
$486,944
Alternative Uses
Best Use
Multifamily LT 5
$626.1K
$547.8K – $730.4K
NOI $43,825 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$559.5K
$489.6K – $652.8K
NOI $39,168 @ 7.0% cap · market cap 4.36%
Theoretical Best
Warehouse
$1.25M
$1.09M – $1.46M
NOI $87,309 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,509
Businesses Nearby
Explore this area
Business Placement
Demographics for 10467, NY
103,660
Population
40,582
Households
2.6
Avg Household Size
36
Median Age
22%
College-Educated
75%
High-School Grad
2.3 sq mi
ZIP Area
45,070
Density / Sq Mi
$47,806
Median Household Income
$36,949
Median Earnings
$1,505
Median Rent
$425,500
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 - Two-unit layout includes separate mechanical systems and private outdoor space.
Where is this duplex located?
The property is located at 778 Adee Ave The 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: Two two‑bedroom units in a fully detached brick duplex; Finished walk‑out basement with additional usable area; Separate boiler and hot water tank for each unit
