Two-Family Duplex with
For Sale
$1,350,000
846 E 215th Street, Bronx, NY 10467
Two-story residential income property with attic and basement storage, three garage spaces, and driveway parking.
Property Size2,365 SF
Lot Size0.16 Acres
Price / SF$570.82
Days on Market9
Property Features for 846 E 215th Street
General Information
Standard status
Active
Size
2,365 SF
Total Parking Spaces
3
Lot size
0.16 Acres
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,416
Building Details
Building Size
2,365 SF
Year Built
1915
Buildings
1
Stories
2
Listing Agency:
Motivated Access Realty Corp.
(646) 359-9753
Listed By:
Hipolito Rosario · License #10311208838
Source:
Shawmetro
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 11 at 12:33PM
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 Motivated Access Realty Corp.
Investment Insights
Based on property information with market context.
This two-story duplex contains two residential units within a 2,365-square-foot structure built in 1915. The property also includes attic and basement areas that extend its available storage, along with three garage spaces and additional driveway parking.
The main residence occupies a 5,005-square-foot lot, with adjacent lot #71 adding 1,967 square feet. The property is in the Wakefield section of the Bronx, approximately 7 minutes from Bay Plaza Mall and 25 minutes from Manhattan, with commercial stores and restaurants nearby.
The main residence occupies a 5,005-square-foot lot, with adjacent lot #71 adding 1,967 square feet. The property is in the Wakefield section of the Bronx, approximately 7 minutes from Bay Plaza Mall and 25 minutes from Manhattan, with commercial stores and restaurants nearby.
Key Highlights
- Two‑family, two‑story residential building with a 2,365‑square‑foot structure
- Main property sits on a 5,005‑square‑foot lot
- Additional lot #71 contributes 1,967 square feet
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
$57,582
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
4.27%
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%
$1,151,640
$1.2M
Cap Rate 7%
$822,600
$822.6K
Cap Rate 9%
$639,800
$639.8K
Market Conditions
NOI Build-Up for 2,365 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
$88.0K $37.20/SF
− Vacancy
−$5.7K −$2.42/SF
EGI
$82.3K $34.78/SF
− OpEx
−$24.7K −$10.43/SF
NOI
$57.6K $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%
$1,151,640
Cap Rate 7%
$822,600
Cap Rate 9%
$639,800
Alternative Uses
Best Use
Multifamily LT 5
$822.6K
$719.8K – $959.7K
NOI $57,582 @ 7.0% cap · market cap 4.27%
Second Best
Apartment 5plus
$735.2K
$643.3K – $857.7K
NOI $51,463 @ 7.0% cap · market cap 3.81%
Theoretical Best
Warehouse
$1.64M
$1.43M – $1.91M
NOI $114,715 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,654
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
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-story residential income property with attic and basement storage, three garage spaces, and driveway parking.
Where is this duplex located?
The property is located at 846 E 215th Street Bronx, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Two‑family, two‑story residential building with a 2,365‑square‑foot structure; Main property sits on a 5,005‑square‑foot lot; Additional lot #71 contributes 1,967 square feet
