Two-Story Duplex with
For Sale
$1,350,000
846 E 215th Street, Bronx, NY 10467
MULTI_FAMILY - Bronx, NY
Property Size2,365 SF
Lot Size0.11 Acres
Price / SF$570.82
Days on Market12
Property Features for 846 E 215th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 4, Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 1, Basement, Bathroom 2
Parking features
Garage, Driveway
Elementary school
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Middle school
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High school
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Elementary school district
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Middle school district
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High school district
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Standard status
Active
APN
04673-0072
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7416
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1915
Number of units
2
Building materials
Frame
Listing Agency:
Motivated Access Realty Corp.
(646) 359-9753
Listed By:
Hipolito Rosario · License #10311208838
(646) 359-9753
Added: Aug 4
Changed: Aug 6
Last Checked: Aug 15 at 2:06PM
MLS# 1034556
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story duplex is configured as a two-family residential building with a 2,365-square-foot structure. The property includes four identified bedrooms, three bathrooms, an attic, and a basement that extend the available storage and functional space. Frame construction, natural gas heating, public water, public sewer, and available electricity are reported. The home was built in 1915.
Parking includes three garage spaces, along with additional driveway capacity. The property is located in the Wakefield northeast area of The Bronx, approximately 7 minutes from Bay Plaza Mall and 25 minutes from Manhattan. Commercial stores and major restaurants are also located nearby. The offering includes the main property and an adjoining side lot, although the reported lot measurements are not consistent and are not summarized here.
Parking includes three garage spaces, along with additional driveway capacity. The property is located in the Wakefield northeast area of The Bronx, approximately 7 minutes from Bay Plaza Mall and 25 minutes from Manhattan. Commercial stores and major restaurants are also located nearby. The offering includes the main property and an adjoining side lot, although the reported lot measurements are not consistent and are not summarized here.
Key Highlights
- Two‑story, two‑family residential building with a 2,365‑square‑foot structure
- Four identified bedrooms and three bathrooms
- Three garage spaces plus driveway parking
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-family frame residence with attic and basement space, driveway parking, and a three-bedroom-per-floor layout.
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‑story, two‑family residential building with a 2,365‑square‑foot structure; Four identified bedrooms and three bathrooms; Three garage spaces plus driveway parking
