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$814,999

For Sale - Active
1774 Pitman Ave, Bronx, NY 10466
3 Beds
2 Baths
0 Square Feet
0.04 Acres Lot
Built in 1950
For Sale - Active
2 Units
Checked: 6 hours ago
Updated: Jul 15, 2025 at 07:38AM

Investment Summary


Monthly Cash Flow
-$2,687
Cap Rate
2.1%
Cash-on-Cash Return
-17.2%
Debt Coverage Ratio
0.35
Internal Rate of Return (5 years)
-12.6%

Property Description


0.04 Acres Lot
Built in 1950
For Sale - Active
2 Units

Wonderful opportunity to own a semi-detached, brick multi-family, end unit house on a tree-lined street in the desirable Wakefield section of the Bronx, which borders Yonkers and Mt. Vernon. This property has two units. Live in one unit and rent out the other to offset your carrying costs, rent out both units for extra income, or bring the extended family. Approximately 50 feet separate the front entry to the upstairs unit from that of the adjoining home, offering more privacy and a larger front yard with a blooming forsythia tree and lush greenery, adding to the curb appeal of the home. Both units feature hardwood floors throughout and have been lovingly and tastefully updated. The upstairs unit has 2 bedrooms and 1 bath and spans two levels. The first level features a generously sized living room with an oversized window that lets in an abundance of natural light, a formal dining area, and a beautifully renovated modern eat-in kitchen that sports cream shaker cabinets, stainless steel appliances, quartz countertops, pretty stone backsplash, and porcelain tile floor. Upstairs you will find the large primary bedroom, located at the front of the property, with 2 exposures and a wall-to-wall closet; the second bedroom with a large window overlooking the backyard and 3 closets; and an updated bath with tub and shower combination, white shaker vanity, and ceramic patterned tile floor. The downstairs unit, accessed from the rear of the house, has 1 bedroom and 1 bath, and offers the potential for extra income. Other features include a large, level backyard that is ideal for family get togethers, cook outs, and other celebrations, and private driveway parking for 2 cars. In addition, brand new, state-of-the-art gas piping, along with 2 new gas meters inspected and approved by the NYC DOB and Con Ed, were recently installed. The house was also brought up to new safety and building codes, as required by the DOB and Con Ed and soon to be implemented and enforced in all homes citywide, but which few properties in the area currently have. The new owners of 1774 Pitman Avenue can therefore rest easy knowing that they will not need to make these expensive safety upgrades in the years to come. The home is just minutes from the #2 and #5 subway lines, Wakefield Metro North station, Bx11 express bus, NYC #16 and Westchester County #25 and #26 bus lines, and the Bronx River Parkway. It is also close to 3 major hospitals and shopping centers in the community and nearby Westchester County. This exceptional property in a lovely north Bronx neighborhood is not to be missed.

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Location


Property Details


Parking

  • Garage Spaces: 0
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Stories: 2

Land Information

  • Land Use: Residential Income
  • Land Use Subtype: Duplex

Lot Information

  • Parcel ID: 050110001
  • Lot Size: 1648 sqft

Property Information

  • Property Type: Duplex
  • Year Built: 1950

Tax Information

  • Annual Tax: $5,969

Utilities

  • Water & Sewer: Public
  • Heating: Natural Gas
  • Cooling: None

Location

  • County: Bronx

Listing Details


Listed by:
Susan D. Hawkins
Julia B Fee Sothebys Int. Rlty
(914) 844-1761

Source:
OneKey MLS
MLS#: 888798
OneKey MLS

Investment Summary


Monthly Cash Flow
-$2,687
Cap Rate
2.1%
Cash-on-Cash Return
-17.2%
Debt Coverage Ratio
0.35
Internal Rate of Return (5 years)
-12.6%

Purchase Details

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Purchase price:
$814,999
Amount financed:
-$651,999
Down payment:
$163,000
Closing costs:
$24,450
Rehab costs:
$0
Initial cash invested:
$187,450
Square feet:
0
Cost per square foot:
n/a
Monthly rent per square foot:
n/a

Financing Details

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Loan amount:
$651,999
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.500%
Principal & interest:
$4,121
Property tax:
$498
Insurance:
$196
Private mortgage insurance (PMI):
$0
Monthly payment:
$4,815

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,800 $33,600
Vacancy loss: (6%)
6% -$168 -$2,016
Operating income:
$2,632 $31,584

Operating Expenses


% Rent Monthly Yearly
Property taxes: (18%)
18%-$498-$5,970
Insurance: (7%)
7%-$196-$2,352
Property management: (8%)
8%-$224-$2,688
Repairs & maintenance: (5%)
5%-$140-$1,680
Capital expenditures: (5%)
5%-$140-$1,680
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (43%)
43%-$1,198-$14,370

Cash Flow


Monthly Yearly
Net operating income:
$1,434 $17,208
Mortgage payments:
-$4,121 -$49,452
Cash flow:
$2,687 $32,244