Pelham Bay real estate agent
I lease and sell in Pelham Bay every month. This page is what I actually know about the neighborhood: what apartments rent for right now, what the houses are, and what owning one is worth.
What apartments rent for in Pelham Bay
These are units I am leasing or have leased, not a portal estimate. Rents in this neighborhood commonly include utilities, which is unusual across much of the Bronx and worth a hundred dollars or more a month in real terms.
| Unit | Address | Utilities | Rent |
|---|---|---|---|
| Studio, garden level | 3034 Coddington Avenue | All included | $1,800 |
| One bedroom, private balcony | 3034 Coddington Avenue | All included | $2,200 |
If you are a tenant, the honest advice is that Pelham Bay rarely has much on the market at once. Most of the rental stock is a single apartment inside somebody's two-family house, so units come up one at a time and go quickly. Being on a list matters more here than browsing listings.
Houses first, buildings second
Pelham Bay does not look like most of the Bronx. The housing stock is overwhelmingly detached and semi-detached one- and two-family houses, typically on twenty-five to forty foot lots, with a scattering of small co-ops and legal three-families. Large rental buildings are the exception rather than the rule.
That single fact shapes everything else. Because so many houses here are legal two-families with a rentable garden or second-floor unit, a large share of the owners are landlords as well as residents. They live upstairs and let the downstairs, or the reverse. It is the most common arrangement in the neighborhood and it is why the value of a house here is set as much by what it can rent for as by its kitchen.
The commercial spine runs along Westchester Avenue, Crosby Avenue and Middletown Road. East of the Hutchinson River Parkway sit the quieter pockets, Spencer Estate and the edges of Country Club, where lots get larger and prices follow. West toward Westchester Square the housing gets denser and older.
And then there is the park. Pelham Bay Park is roughly 2,700 acres, the largest in New York City and about three times the size of Central Park. Orchard Beach, two golf courses, and miles of trail and shoreline sit inside it. For a buyer comparing the east Bronx to Westchester at half the price, that park does a lot of the persuading.
- Housing stock
- 1–2 family houses, garden and second-floor rentals, some small co-ops
- Subway
- 6 train · Pelham Bay Park, Buhre Av, Middletown Rd
- Bus
- Bx12 Select · Bx5 · Bx24 · BxM7 express to Midtown
- Road
- Hutchinson River Pkwy · I-95 · Bruckner Expwy
- ZIP codes
- 10461 · 10465
- What I do here
- Owner leasing, multi-family sales, investment advisory
The commute, honestly
| Route | Destination | Rough time |
|---|---|---|
| 6 train from Pelham Bay Park | Grand Central / 42nd Street | 50–60 min |
| 6 train from Buhre Avenue | 125th Street | 35–45 min |
| BxM7 express bus | Midtown East | 45–60 min |
| Bx12 Select Bus | Fordham Road / Co-op City | 20–30 min |
| Car via Hutchinson River Pkwy | Westchester County line | 10 min |
What your house is worth depends on its rent roll
I lease the apartment, properly
Pricing to the block rather than to the borough, professional photography and virtual staging, applicant screening and income verification, then lease execution and move-in. I show the unit myself. Owners here have usually been handed a lockbox and a shrug by somebody else, and it shows up in who ends up living upstairs.
I will tell you what the building is worth
A two-family in Pelham Bay is valued by an investor on income, not on finishes. If your rents have not moved in five years, the building is worth less than it should be, and the gap is usually larger than owners expect. I will run the numbers and show you, whether or not you are selling.
Month-to-month is leverage
If your tenants are month-to-month, you can reset rents toward market inside a notice period. That single fact can add meaningfully to what a buyer will pay, and most owners do not realise it until they are already under contract.
The two-family is the point
The rent offsets the mortgage
Buying a legal two-family and letting one unit is the most reliable way into this neighborhood. At current rents the second unit typically covers a serious share of the monthly cost, which is why owner-occupants and small investors compete for the same houses here.
Lending on two to four units is its own thing
Three and four unit purchases are underwritten differently to houses, and FHA applies a self-sufficiency test that many buildings fail on current rents. Worth understanding before you fall in love with something. I will point you at lenders who actually do these.
Verify the legal unit count
Not every apartment being rented in this neighborhood is a legal one. A basement unit that generates income today may not be lawful, financeable, or insurable. I check the certificate of occupancy before you make an offer, not after.
Units I have leased in the neighborhood. Interiors shown are virtually staged.
Selling or leasing in Pelham Bay?
Tell me about the property and I will tell you what it rents for and what it is worth. I reply personally, usually within the hour.
Private inquiry
A few details and I will be in touch.