Three-Story
For Sale
$839,000
Pending
1228 Noble Avenue, Bronx, NY 10472
Residential Income, Bronx, NY
Property Size1,780 SF
Lot Size0.05 Acres
Days on Market101
Property Features for 1228 Noble Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway
Elementary school
Ps 47 John Randolph
Middle school
Mott Hall V
High school
Mott Hall V
Elementary school district
Bronx 12
Middle school district
Bronx 12
High school district
Bronx 12
Standard status
Pending
APN
03760-0023
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7291
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1960
Number of units
2
Building materials
Brick
Listing Agency:
360 Realty Group
(631) 987-7362
Listed By:
Georgene Zagarino · License #10401389941
(516) 659-3954
Added: May 30
Changed: Aug 19
Last Checked: Sep 7 at 1:06PM
MLS# 1006756
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This legally classified duplex contains 1,780 gross square feet within a three-story brick building constructed in 1960. The property occupies a 0.0457-acre lot with R5 zoning, driveway parking, and access to public water and sewer. Electricity is available.
Located at 1228 Noble Avenue in the Bronx, the property is just over a tenth of a mile from the St. Lawrence Avenue subway station serving the 6 line. It falls within Bronx Geographic School District #12 and is locally zoned for P.S. 047 John Randolph Elementary School.
Located at 1228 Noble Avenue in the Bronx, the property is just over a tenth of a mile from the St. Lawrence Avenue subway station serving the 6 line. It falls within Bronx Geographic School District #12 and is locally zoned for P.S. 047 John Randolph Elementary School.
Key Highlights
- Legally classified two‑family property in a three‑story brick building
- 1,780 gross square feet on a 0.0457‑acre lot
- R5 zoning with driveway parking
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
$45,215
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
5.39%
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%
$904,300
$904.3K
Cap Rate 7%
$645,929
$645.9K
Cap Rate 9%
$502,389
$502.4K
Market Conditions
NOI Build-Up for 1,780 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
$68.4K $38.40/SF
− Vacancy
−$3.8K −$2.11/SF
EGI
$64.6K $36.29/SF
− OpEx
−$19.4K −$10.89/SF
NOI
$45.2K $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%
$904,300
Cap Rate 7%
$645,929
Cap Rate 9%
$502,389
Alternative Uses
Best Use
Multifamily LT 5
$645.9K
$565.2K – $753.6K
NOI $45,215 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$584.9K
$511.8K – $682.4K
NOI $40,946 @ 7.0% cap · market cap 4.88%
Theoretical Best
Warehouse
$1.23M
$1.08M – $1.44M
NOI $86,339 @ 7.0% cap · market cap 10.29%
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
3,029
Businesses Nearby
Explore this area
Business Placement
Demographics for 10472, NY
72,245
Population
24,259
Households
3
Avg Household Size
34
Median Age
14%
College-Educated
69%
High-School Grad
1.1 sq mi
ZIP Area
65,677
Density / Sq Mi
$43,125
Median Household Income
$35,180
Median Earnings
$1,445
Median Rent
$632,500
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 - Brick two-family property with driveway parking and public water and sewer.
Where is this duplex located?
The property is located at 1228 Noble Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $839,000.
What are key features of this property?
This property features: Legally classified two‑family property in a three‑story brick building; 1,780 gross square feet on a 0.0457‑acre lot; R5 zoning with driveway parking
