Vacant Three-Unit
For Sale
$1,125,000
Pending
2307 Loring Place N, Bronx, NY 10468
Residential Income, Bronx, NY
Property Size3,312 SF
Lot Size0.06 Acres
Days on Market331
Property Features for 2307 Loring Place N
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
10
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 10, Bedroom 7, Bedroom 9, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 5, Bathroom 3, Bedroom 3, Basement, Bedroom 2, Bedroom 6, Bedroom 8
Parking features
Carport
Interior features
High Ceilings
Basement
Full
Directions
HIGHBRIDGE neighborhood - from W. Fordham Rd. make a right onto Andrews Ave. N. make a left onto Hall of Fame Terrace and a right onto Loring Place N. (between W. 183rd St. & W. Fordham Rd.)
Standard status
Pending
APN
03225-0179
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
5054
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Building Details
Year built
1901
Number of units
3
Building materials
Stone
Listing Agency:
Keller Williams Realty NYC Grp
(718) 697-6800
Listed By:
Dexter Robinson
(646) 425-5457
Added: Oct 14, 2025
Changed: Sep 6
Last Checked: Sep 9 at 12:06AM
MLS# 923882
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 3,312-square-foot triplex contains three separate apartments arranged in a 3-over-3-over-3 bedroom configuration, providing nine bedrooms in total. The property is delivered vacant, and Apartment 1 is vacant and under construction. An unfinished basement adds additional interior space. High ceilings, stone construction, and hot-water heating are among the building’s documented features.
Built in 1901, the property is located at 2307 Loring Place N in the Bronx. The site measures 0.0574 acres and is served by public water and public sewer, with natural gas available. The property’s three-unit layout and vacant delivery provide a clear basis for evaluating renovation and leasing plans.
Built in 1901, the property is located at 2307 Loring Place N in the Bronx. The site measures 0.0574 acres and is served by public water and public sewer, with natural gas available. The property’s three-unit layout and vacant delivery provide a clear basis for evaluating renovation and leasing plans.
Key Highlights
- 3,312‑square‑foot triplex with three separate apartments
- 3‑over‑3‑over‑3 bedroom configuration with nine total bedrooms
- Property delivered vacant; Apartment 1 is vacant and under construction
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
$84,130
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
7.48%
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%
$1,682,600
$1.7M
Cap Rate 7%
$1,201,857
$1.2M
Cap Rate 9%
$934,778
$934.8K
Market Conditions
NOI Build-Up for 3,312 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
$127.2K $38.40/SF
− Vacancy
−$7.0K −$2.11/SF
EGI
$120.2K $36.29/SF
− OpEx
−$36.1K −$10.89/SF
NOI
$84.1K $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%
$1,682,600
Cap Rate 7%
$1,201,857
Cap Rate 9%
$934,778
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $84,130 @ 7.0% cap · market cap 7.48%
Second Best
Apartment 5plus
$1.09M
$952.4K – $1.27M
NOI $76,188 @ 7.0% cap · market cap 6.77%
Theoretical Best
Warehouse
$2.29M
$2.01M – $2.68M
NOI $160,649 @ 7.0% cap · market cap 14.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
5,017
Businesses Nearby
Explore this area
Business Placement
Demographics for 10468, NY
78,238
Population
29,553
Households
2.6
Avg Household Size
35
Median Age
16%
College-Educated
72%
High-School Grad
1.0 sq mi
ZIP Area
78,238
Density / Sq Mi
$46,624
Median Household Income
$29,914
Median Earnings
$1,594
Median Rent
$259,400
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?
Triplex - Three apartments are delivered vacant, with one unit under construction and an unfinished basement.
Where is this triplex located?
The property is located at 2307 Loring Place N Bronx, NY.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: 3,312‑square‑foot triplex with three separate apartments; 3‑over‑3‑over‑3 bedroom configuration with nine total bedrooms; Property delivered vacant; Apartment 1 is vacant and under construction
