One-Bedroom Residential Income
For Sale
$199,000
1010 Sherman Avenue 3-D, Bronx, NY 10456
The 650-square-foot home is in an elevator-equipped cooperative with on-site laundry and bicycle storage.
Property Size650 SF
Price / SF$306.15
Days on Market15
Property Features for 1010 Sherman Avenue 3-D
General Information
Standard status
Active
Size
650 SF
Elevators
Yes
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
on-site laundry
bicycle storage
on-site super
Building Details
Building Size
650 SF
Year Built
1958
Listing Agency:
Triumph Property Group Ltd
Listed By:
Althea E Ffrench
(646) 812-7655
Source:
Carlinwright
Added: Sep 17
Changed: Sep 28
Last Checked: Sep 30 at 3:27PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Triumph Property Group Ltd
Investment Insights
Based on property information with market context.
This one-bedroom cooperative home in the Bronx offers 650 square feet, with adjoining living and dining areas featuring double exposures. The windowed kitchen and bathroom bring natural light into both spaces. Storage includes a full-wall bedroom closet, two utility closets near the bathroom, and a double-width entry closet. The building dates to 1958 and has an elevator, on-site laundry, bicycle storage, and an on-site superintendent. Solar panels and other building initiatives support its reported A energy-efficiency rating.
Yankee Stadium and the Grand Concourse are among the nearby destinations. The surrounding area includes parks, shops, restaurants, and everyday services, as well as the Bronx Museum of the Arts, Borough Hall, and Concord Plaza’s Food Bazaar. Subway service on the 4, B, and D lines is available at 161st Street-Yankee Stadium, with Metro-North service also nearby.
Yankee Stadium and the Grand Concourse are among the nearby destinations. The surrounding area includes parks, shops, restaurants, and everyday services, as well as the Bronx Museum of the Arts, Borough Hall, and Concord Plaza’s Food Bazaar. Subway service on the 4, B, and D lines is available at 161st Street-Yankee Stadium, with Metro-North service also nearby.
Key Highlights
- 650‑square‑foot, one‑bedroom cooperative home
- Double‑exposure living and dining areas; windowed kitchen and bathroom
- Full‑wall bedroom closet, two utility closets, and double‑width entry closet
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
$15,203
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
7.64%
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%
$304,060
$304.1K
Cap Rate 7%
$217,186
$217.2K
Cap Rate 9%
$168,922
$168.9K
Market Conditions
NOI Build-Up for 650 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
$29.3K $45.00/SF
− Vacancy
−$1.6K −$2.48/SF
EGI
$27.6K $42.53/SF
− OpEx
−$12.4K −$19.14/SF
NOI
$15.2K $23.39/SF
Area
ZIP 10456
Vacancy
5.50%
Lease Rate
$45.00 /SF/Yr
Expense Ratio
45.00%
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%
$304,060
Cap Rate 7%
$217,186
Cap Rate 9%
$168,922
Alternative Uses
Best Use
Apartment 5plus
$217.2K
$190.0K – $253.4K
NOI $15,203 @ 7.0% cap · market cap 7.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$328.9K
$287.8K – $383.8K
NOI $23,026 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,286
Businesses Nearby
Explore this area
Business Placement
Demographics for 10456, NY
93,412
Population
33,321
Households
2.8
Avg Household Size
34
Median Age
14%
College-Educated
68%
High-School Grad
1.1 sq mi
ZIP Area
84,920
Density / Sq Mi
$35,676
Median Household Income
$30,340
Median Earnings
$1,194
Median Rent
$428,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - The 650-square-foot home is in an elevator-equipped cooperative with on-site laundry and bicycle storage.
Where is this residential income property located?
The property is located at 1010 Sherman Avenue 3-D Bronx, NY.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 650‑square‑foot, one‑bedroom cooperative home; Double‑exposure living and dining areas; windowed kitchen and bathroom; Full‑wall bedroom closet, two utility closets, and double‑width entry closet
