Two-Unit Duplex with Full
New
For Sale
$849,000
846 E 223 STREET, New York, NY 10466
Residential Income, New York, NY
Property Size2,010 SF
Price / SF$422.39
Days on Market3
Property Features for 846 E 223 STREET
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 3, Bathroom 2, Laundry Room, Bedroom 1
Interior features
Entrance Foyer
Subdivision
East Bronx
High school district
NEW YORK CITY GEOGRAPHIC DISTRICT #11
Directions
Refer to google maps
Standard status
Active
Size
2,010 SF
Utilities
Heating system
Natural Gas, Baseboard
Water source
Public
Building Details
Year built
1955
Floors in Building
3
Flooring type
Hardwood
Architectural style
Other
Listing Agency:
Real Broker NY LLC
(518) 730-4428
Listed By:
Richard Polanco
(518) 730-4428
Added: Aug 26
Changed: Aug 27
Last Checked: Aug 28 at 6:06AM
MLS# 11950464
Copyright © 2026 My State 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-unit duplex offers 2,010 square feet with four bedrooms, two full bathrooms, and one half bathroom. The residence includes a full basement, an entrance foyer, hardwood flooring, and a laundry room. Heating is provided by natural gas baseboard systems, with public water service to the property. Built in 1955, the home presents a multi-level configuration suited to two-family occupancy.
The property is located in the Bronx near public transportation, shopping, restaurants, parks, and major roadways. Its New York setting provides access throughout the borough and to New York City, while the surrounding services add everyday convenience for occupants.
The property is located in the Bronx near public transportation, shopping, restaurants, parks, and major roadways. Its New York setting provides access throughout the borough and to New York City, while the surrounding services add everyday convenience for occupants.
Key Highlights
- Two‑unit duplex with 2,010 square feet
- Four bedrooms, two full bathrooms, and one half bathroom
- Full basement provides additional interior space
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
$68,026
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
8.01%
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%
$1,360,520
$1.4M
Cap Rate 7%
$971,800
$971.8K
Cap Rate 9%
$755,844
$755.8K
Market Conditions
NOI Build-Up for 2,010 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
$102.5K $51.00/SF
− Vacancy
−$5.3K −$2.65/SF
EGI
$97.2K $48.35/SF
− OpEx
−$29.2K −$14.50/SF
NOI
$68.0K $33.84/SF
Area
New York, NY
Vacancy
5.20%
Lease Rate
$51.00 /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%
$1,360,520
Cap Rate 7%
$971,800
Cap Rate 9%
$755,844
Alternative Uses
Best Use
Multifamily LT 5
$971.8K
$850.3K – $1.13M
NOI $68,026 @ 7.0% cap · market cap 8.01%
Second Best
Apartment 5plus
$898.4K
$786.1K – $1.05M
NOI $62,887 @ 7.0% cap · market cap 7.41%
Theoretical Best
Specialty Retail
$5.00M
$4.38M – $5.84M
NOI $350,222 @ 7.0% cap · market cap 41.25%
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
2,871
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
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-unit layout with hardwood flooring, a full basement, and public transportation nearby.
Where is this duplex located?
The property is located at 846 E 223 STREET New York, NY.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,010 square feet; Four bedrooms, two full bathrooms, and one half bathroom; Full basement provides additional interior space
