Renovated Duplex with
For Sale
Contact for pricing
944 adee avenue, Bronx, NY 10469
Fully renovated duplex with secure cameras, outdoor storage, and a skylit upper level.
Property Size1,900 SF
Price / SF$473.16
Days on Market150
Property Features for 944 adee avenue
General Information
Standard status
Active
Size
1,900 SF
Property subtype
Mixed Use
Financials
Gross Income
$72,000
Average Monthly Rent
$3,000
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
secure camera system
outdoor storage area
Building Details
Year Built
1960
Listing Agency:
ACG REALTY NY LLC
(315) 395-5435
Listed By:
Alicia Afflick
Source:
Crexi
Added: Apr 3
Changed: Aug 29
Last Checked: Aug 29 at 7:45PM
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 ACG REALTY NY LLC
Investment Insights
Based on property information with market context.
This 1,900-square-foot duplex was built in 1960 and has undergone a full renovation. The property includes a three-bedroom, 1.5-bath residence on the second floor and a one-bedroom, one-bath unit on the first floor, with tenants currently in place.
Exterior improvements include a newer roof with stainless steel gutters and a warranty, stainless steel railings along the rear steps, and an outdoor storage area. A large skylight brings natural light to the upper level, while a security camera system adds monitoring capability. The property is located at 944 Adee Avenue in the Bronx, New York 10469.
Exterior improvements include a newer roof with stainless steel gutters and a warranty, stainless steel railings along the rear steps, and an outdoor storage area. A large skylight brings natural light to the upper level, while a security camera system adds monitoring capability. The property is located at 944 Adee Avenue in the Bronx, New York 10469.
Key Highlights
- 1,900‑square‑foot duplex at 944 Adee Avenue, Bronx, NY 10469
- Two‑level unit configuration with a 3‑bedroom, 1.5‑bath upper residence
- 1‑bedroom, 1‑bath first‑floor unit
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
$48,263
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
5.37%
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%
$965,260
$965.3K
Cap Rate 7%
$689,471
$689.5K
Cap Rate 9%
$536,256
$536.3K
Market Conditions
NOI Build-Up for 1,900 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
$73.0K $38.40/SF
− Vacancy
−$4.0K −$2.11/SF
EGI
$68.9K $36.29/SF
− OpEx
−$20.7K −$10.89/SF
NOI
$48.3K $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%
$965,260
Cap Rate 7%
$689,471
Cap Rate 9%
$536,256
Alternative Uses
Best Use
Multifamily LT 5
$689.5K
$603.3K – $804.4K
NOI $48,263 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$624.4K
$546.3K – $728.5K
NOI $43,707 @ 7.0% cap · market cap 4.86%
Theoretical Best
Warehouse
$1.32M
$1.15M – $1.54M
NOI $92,160 @ 7.0% cap · market cap 10.25%
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
2,877
Businesses Nearby
Explore this area
Business Placement
Demographics for 10469, NY
71,571
Population
25,082
Households
2.9
Avg Household Size
39
Median Age
29%
College-Educated
83%
High-School Grad
2.4 sq mi
ZIP Area
29,821
Density / Sq Mi
$76,018
Median Household Income
$45,857
Median Earnings
$1,653
Median Rent
$640,400
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 - Fully renovated duplex with secure cameras, outdoor storage, and a skylit upper level.
Where is this duplex located?
The property is located at 944 adee avenue Bronx, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 1,900‑square‑foot duplex at 944 Adee Avenue, Bronx, NY 10469; Two‑level unit configuration with a 3‑bedroom, 1.5‑bath upper residence; 1‑bedroom, 1‑bath first‑floor unit
