Two-Family Duplex
For Sale
$775,000
877 Hornaday Place, Bronx, NY 10460
A 1925-built property with two residential units near transit, highways, schools, shopping, and neighborhood amenities.
Property Size1,280 SF
Days on Market207
Property Features for 877 Hornaday Place
General Information
Standard status
Active
Size
1,280 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,180
Building Details
Building Size
1,280 SF
Year Built
1925
Units
2
Listing Agency:
Soler Realty
(646) 630-6899
Listed By:
Marcus E. Soler
(646) 630-6899
Source:
Cohenandcohenrealty
Added: Jan 21
Changed: Aug 12
Last Checked: Aug 15 at 1:54PM
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 Soler Realty
Investment Insights
Based on property information with market context.
Built in 1925, this duplex property contains two residential units with a combined 4 bedrooms and 3 bathrooms. The arrangement offers potential for owner-occupancy or investment use. The property is being sold as-is, with the buyer responsible for verifying unit configuration, square footage, and use.
Located at 877 Hornaday Place in the West Farms section of the Bronx, the property is near public transportation, major highways, schools, shopping, local amenities, and Bronx Park. Its location also provides access to surrounding areas within the Bronx.
Located at 877 Hornaday Place in the West Farms section of the Bronx, the property is near public transportation, major highways, schools, shopping, local amenities, and Bronx Park. Its location also provides access to surrounding areas within the Bronx.
Key Highlights
- Two residential units with 4 bedrooms and 3 bathrooms total
- Built in 1925
- Owner‑occupancy or investment use identified
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
$32,514
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
4.20%
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%
$650,280
$650.3K
Cap Rate 7%
$464,486
$464.5K
Cap Rate 9%
$361,267
$361.3K
Market Conditions
NOI Build-Up for 1,280 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
$49.2K $38.40/SF
− Vacancy
−$2.7K −$2.11/SF
EGI
$46.4K $36.29/SF
− OpEx
−$13.9K −$10.89/SF
NOI
$32.5K $25.40/SF
Area
Bronx, NY
Vacancy
5.50%
Lease Rate
$38.40 /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%
$650,280
Cap Rate 7%
$464,486
Cap Rate 9%
$361,267
Alternative Uses
Best Use
Multifamily LT 5
$464.5K
$406.4K – $541.9K
NOI $32,514 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$420.6K
$368.1K – $490.8K
NOI $29,445 @ 7.0% cap · market cap 3.80%
Theoretical Best
Warehouse
$887.0K
$776.1K – $1.03M
NOI $62,087 @ 7.0% cap · market cap 8.01%
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
3,623
Businesses Nearby
Explore this area
Business Placement
Demographics for 10460, NY
62,625
Population
24,085
Households
2.6
Avg Household Size
34
Median Age
15%
College-Educated
71%
High-School Grad
1.5 sq mi
ZIP Area
41,750
Density / Sq Mi
$36,067
Median Household Income
$31,283
Median Earnings
$1,332
Median Rent
$589,300
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 - A 1925-built property with two residential units near transit, highways, schools, shopping, and neighborhood amenities.
Where is this duplex located?
The property is located at 877 Hornaday Place Bronx, NY.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Two residential units with 4 bedrooms and 3 bathrooms total; Built in 1925; Owner‑occupancy or investment use identified
