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407/409 W 261st St, Bronx, NY 10471

Studio, 4,299 sqft
For Sale
$849,000
Zestimate®: $830,877
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Douglas Elliman is pleased to present an incredible property investment opportunity. This 3-Family stuccoed building is located at 409 West 261st Street on a quiet tree-lined block in the desirable neighborhood of Riverdale in the city of the Bronx. This beautiful building can be coverted into a single family or keep it as a multifamily for rental income. Zoned R3A, this property is situated two blocks from Riverdale Ave with a lot size of approximately 3742 sf. The garage is on it's own tax lot and can be sold or kept as is. Combine both lots to create a huge 62 ft x 100 ft lot. Current tenants are paying under market rents. The building can be delivered vacant. The property can use a little TLC but has great potential.This unique opportunity allows the new homeowner to purchase an entire building at half the cost of a condominium while achieving rental income. Live in the home and rent the other thus reducing out of pocket costs of homeownership.Easy access to all major roads such as I-87 (Major Deegan), Henry Hudson Parkway, and Mosholu Parkway making this area convenient to Manhattan and Westchester counties. Centrally located and ideal for any homeowner. Van Cortlandt Park is a few blocks from this property featuring 1,100+ acres covering ridges and valleys of the Northwest Bronx. From West 225th Street to West 238th Street lies the Broadway shopping corridor which is undergoing a tremendous transition with two large shopping centers including Target, Marshalls, Applebees and Starbucks, which are currently operational, and BJs, Aldi, TJ Maxx and Sports Authority coming in late 2014/early 2015.  MoreLess
Facts
  • Townhouse
  • 56 days on Zillow
  • Price/sqft: $197
Other
  • Floor size: 4,299 sqft
  • Zillow Home ID: 2105905883
Home Values
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A Zestimate home valuation is Zillow's estimated market value. It is not an appraisal. Use it as a starting point to determine a home's value. Learn more

The Value Range is the high and low estimate market value for which Zillow values a home. The more information, the smaller the range, and the more accurate the Zestimate. See data coverage and accuracy table

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$830,877
-$220,164 Last 30 daysd
$715K
$964K
Zestimate range
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A Rent Zestimate is Zillow's estimated monthly rental price, computed using a proprietary formula. It is a starting point in determining the monthly rental price for a specific property. Learn more

The Rent Range is the high and low estimate for which an apartment or home could rent. The more information we have, the smaller the range, and the more accurate the Rent Zestimate. See data coverage and accuracy table
$1,548/mo
-$23 Last 30 daysd
$1.2K
$2.8K
Zestimate range

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Neighborhood for 407/409 W 261st Street

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Zillow predicts 10471 home values will decrease 2.2% next year, compared to a 1.8% increase for New York as a whole. Among New York homes, this home is 61.9% more expensive than the midpoint (median) home, but is priced 51.4% less per square foot.

Foreclosures will be a factor impacting home values in the next several years. In the 10471 market, the number of foreclosures waiting to be sold shrank 2.4% in the last year. The number of unsold foreclosures is 150% greater than in New York, and 92.5% less than the national average. This higher local number may prevent 10471 home values from rising as quickly as other regions in New York.

Learn more about forecast calculations or 10471 home values.
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