Legal Two-Family Duplex
For Sale
$899,000
960 E 221st Street, Bronx, NY 10469
Flexible layout with a full basement, attached garage, and electric vehicle charging station.
Property Size2,990 SF
Price / SF$676.96
Days on Market65
Property Features for 960 E 221st Street
General Information
Standard status
Active
Size
2,990 SF
Property subtype
Duplex
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,056
Amenities
electric vehicle charging station
washer/dryer hookups
Building Details
Building Size
2,990 SF
Year Built
1935
Buildings
1
Tenancy
Multi
Listing Agency:
Real Broker NY LLC
Listed By:
Richard Polanco CBR MRP SRS
(347) 651-2076
Source:
Shawmetro
Added: Jul 20
Changed: Sep 17
Last Checked: Sep 21 at 7:11AM
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 Real Broker NY LLC
Investment Insights
Based on property information with market context.
This legally configured two-family duplex home offers five bedrooms and a flexible layout suited to multigenerational living or additional household space. The property includes a full basement with a bathroom, washer and dryer hookups on both the first floor and basement levels, and an attached garage with an electric vehicle charging station. Built in 1935, the home is described as beautifully maintained and filled with natural light.
Located at 960 E 221st Street in the Bronx, the property offers access to Manhattan, LaGuardia Airport, major highways, the 2 and 5 subway lines, and the BXM11 Express Bus. Orchard Beach, Pelham Bay Park, shopping, dining, and Montefiore, NewYork-Presbyterian, Jacobi, and Columbia are also identified in the surrounding area.
Located at 960 E 221st Street in the Bronx, the property offers access to Manhattan, LaGuardia Airport, major highways, the 2 and 5 subway lines, and the BXM11 Express Bus. Orchard Beach, Pelham Bay Park, shopping, dining, and Montefiore, NewYork-Presbyterian, Jacobi, and Columbia are also identified in the surrounding area.
Key Highlights
- Legal two‑family home with five bedrooms
- Full basement with a bathroom
- Washer and dryer hookups on first‑floor and basement levels
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
$33,733
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
3.75%
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%
$674,660
$674.7K
Cap Rate 7%
$481,900
$481.9K
Cap Rate 9%
$374,811
$374.8K
Market Conditions
NOI Build-Up for 1,328 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
$51.0K $38.40/SF
− Vacancy
−$2.8K −$2.11/SF
EGI
$48.2K $36.29/SF
− OpEx
−$14.5K −$10.89/SF
NOI
$33.7K $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%
$674,660
Cap Rate 7%
$481,900
Cap Rate 9%
$374,811
Alternative Uses
Best Use
Multifamily LT 5
$481.9K
$421.7K – $562.2K
NOI $33,733 @ 7.0% cap · market cap 3.75%
Second Best
Apartment 5plus
$436.4K
$381.9K – $509.2K
NOI $30,549 @ 7.0% cap · market cap 3.40%
Theoretical Best
Warehouse
$920.2K
$805.2K – $1.07M
NOI $64,415 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,503
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Flexible layout with a full basement, attached garage, and electric vehicle charging station.
Where is this duplex located?
The property is located at 960 E 221st Street 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: Legal two‑family home with five bedrooms; Full basement with a bathroom; Washer and dryer hookups on first‑floor and basement levels
