Brick Two-Family
For Sale
$699,000
976 Sackett Avenue, Bronx, NY 10462
Two apartments provide one- and two-bedroom configurations with open living space and an eat-in kitchen.
Property Size2,000 SF
Days on Market45
Property Features for 976 Sackett Avenue
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,021
Building Details
Building Size
2,000 SF
Year Built
1920
Buildings
1
Units
2
Construction
solid brick
Listing Agency:
Keller Williams Realty Group
(914) 387-5228
Listed By:
Daniel R. Martinez
(914) 387-5228
Source:
Mydreamhomerealty
Added: Jul 16
Changed: Aug 28
Last Checked: Aug 28 at 11:31AM
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 Keller Williams Realty Group
Investment Insights
Based on property information with market context.
Built in 1920, this brick duplex contains two separate residential apartments. The first-floor unit features one bedroom, an open living and dining area, and a full bathroom. Upstairs, the two-bedroom apartment includes a living room and a full eat-in kitchen.
The property is located on Sackett Avenue in the Morris Park neighborhood of the Bronx, near shops, restaurants, and daily conveniences. Pelham Bay Park and Orchard Beach are also nearby, offering walking trails, bike paths, waterfront access, and open green space. Transportation options include Bx bus routes, the 5 and 6 subway lines, express buses, and Metro-North. A future Morris Park Metro-North Station is planned to provide direct service to Midtown Manhattan.
The property is located on Sackett Avenue in the Morris Park neighborhood of the Bronx, near shops, restaurants, and daily conveniences. Pelham Bay Park and Orchard Beach are also nearby, offering walking trails, bike paths, waterfront access, and open green space. Transportation options include Bx bus routes, the 5 and 6 subway lines, express buses, and Metro-North. A future Morris Park Metro-North Station is planned to provide direct service to Midtown Manhattan.
Key Highlights
- Brick two‑family property built in 1920
- First‑floor one‑bedroom apartment with open living and dining area
- Second‑floor two‑bedroom apartment with full eat‑in kitchen
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
$48,565
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
6.95%
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%
$971,300
$971.3K
Cap Rate 7%
$693,786
$693.8K
Cap Rate 9%
$539,611
$539.6K
Market Conditions
NOI Build-Up for 2,000 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
$73.2K $36.60/SF
− Vacancy
−$3.8K −$1.91/SF
EGI
$69.4K $34.69/SF
− OpEx
−$20.8K −$10.41/SF
NOI
$48.6K $24.28/SF
Area
ZIP 10462
Vacancy
5.22%
Lease Rate
$36.60 /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%
$971,300
Cap Rate 7%
$693,786
Cap Rate 9%
$539,611
Alternative Uses
Best Use
Multifamily LT 5
$693.8K
$607.1K – $809.4K
NOI $48,565 @ 7.0% cap · market cap 6.95%
Second Best
Apartment 5plus
$618.4K
$541.1K – $721.4K
NOI $43,285 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$954.3K
$835.0K – $1.11M
NOI $66,800 @ 7.0% cap · market cap 9.56%
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
5,144
Businesses Nearby
Explore this area
Business Placement
Demographics for 10462, NY
84,655
Population
31,828
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
1.5 sq mi
ZIP Area
56,437
Density / Sq Mi
$63,460
Median Household Income
$42,383
Median Earnings
$1,711
Median Rent
$372,100
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 apartments provide one- and two-bedroom configurations with open living space and an eat-in kitchen.
Where is this duplex located?
The property is located at 976 Sackett Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Brick two‑family property built in 1920; First‑floor one‑bedroom apartment with open living and dining area; Second‑floor two‑bedroom apartment with full eat‑in kitchen
