Brick Duplex with Finished
For Sale
$799,000
865 E 215th Street, Bronx, NY 10467
Two residential units offer two-bedroom layouts, bonus rooms, and access to a rear backyard.
Property Size1,680 SF
Price / SF$475.60
Days on Market13
Property Features for 865 E 215th Street
General Information
Standard status
Active
Size
1,680 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$5,546
Amenities
backyard
Building Details
Building Size
1,680 SF
Year Built
1935
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
RE/MAX Distinguished Hms.&Prop
(646) 685-6269
Listed By:
Hermi Aquino · License #30AQ1103641
Source:
Shawmetro
Added: Jul 30
Changed: Aug 10
Last Checked: Aug 11 at 12:55PM
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 RE/MAX Distinguished Hms.&Prop
Investment Insights
Based on property information with market context.
This brick duplex contains two residential apartments, each arranged with two bedrooms, a bonus room, living room, dining area, and kitchen. The first-floor unit also includes a full bathroom, vinyl flooring, spacious closets, and access to the backyard and lower level. A fully finished basement with its own entrance adds usable space to the property, while the backyard provides outdoor area for gatherings.
Built in 1935, the property is located at 865 E 215th Street in the Bronx’s Williamsbridge section. The #2 and #5 subway stations are nearby, with additional bus service, shopping, schools, hospitals, restaurants, and major parkways in the surrounding area.
Built in 1935, the property is located at 865 E 215th Street in the Bronx’s Williamsbridge section. The #2 and #5 subway stations are nearby, with additional bus service, shopping, schools, hospitals, restaurants, and major parkways in the surrounding area.
Key Highlights
- Two‑family duplex with two 2‑bedroom apartments
- Full finished basement with separate entrance
- Brick construction completed in 1935
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
$40,904
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
5.12%
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%
$818,080
$818.1K
Cap Rate 7%
$584,343
$584.3K
Cap Rate 9%
$454,489
$454.5K
Market Conditions
NOI Build-Up for 1,680 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
$62.5K $37.20/SF
− Vacancy
−$4.1K −$2.42/SF
EGI
$58.4K $34.78/SF
− OpEx
−$17.5K −$10.43/SF
NOI
$40.9K $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%
$818,080
Cap Rate 7%
$584,343
Cap Rate 9%
$454,489
Alternative Uses
Best Use
Multifamily LT 5
$584.3K
$511.3K – $681.7K
NOI $40,904 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$522.2K
$457.0K – $609.3K
NOI $36,557 @ 7.0% cap · market cap 4.58%
Theoretical Best
Warehouse
$1.16M
$1.02M – $1.36M
NOI $81,489 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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 residential units offer two-bedroom layouts, bonus rooms, and access to a rear backyard.
Where is this duplex located?
The property is located at 865 E 215th Street Bronx, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑family duplex with two 2‑bedroom apartments; Full finished basement with separate entrance; Brick construction completed in 1935
