Multifamily Brick Home For
For Sale
$1,050,000
Pending
1030 Longfellow Ave The, Bronx, NY 10459
Two-story multifamily brick home near transportation and amenities.
Property Size3,200 SF
Days on Market268
Property Features for 1030 Longfellow Ave The
General Information
Standard status
Pending
Size
3,200 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$12,116
Building Details
Building Size
3,200 SF
Year Built
1930
Units
4
Listing Agency:
Brown Harris Stevens
(561) 436-0278
Listed By:
Elizabeth Alicea · License #10401278870
(561) 436-0278
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 21
Last Checked: Aug 23 at 9:10AM
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 Brown Harris Stevens
Investment Insights
Based on property information with market context.
This two-story multifamily brick home presents an opportunity for investors or potential homeowners. The property features two two-bedroom units, one three-bedroom unit, and one one-bedroom unit. Its location offers convenient access to shopping, restaurants, and public transportation, including the number 2 and 6 trains, as well as nearby highways. The property is currently being sold with tenants in place, offering immediate rental income. This property can be used as an investment or a private home with income.
Key Highlights
- Multi‑family brick home offering income potential.
- Four units: two 2‑bedroom, one 3‑bedroom, and one 1‑bedroom.
- Convenient location near shopping, restaurants, and public transportation.
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
$73,612
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
7.01%
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%
$1,472,240
$1.5M
Cap Rate 7%
$1,051,600
$1.1M
Cap Rate 9%
$817,911
$817.9K
Market Conditions
NOI Build-Up for 3,200 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
$142.1K $44.40/SF
− Vacancy
−$8.2K −$2.58/SF
EGI
$133.8K $41.82/SF
− OpEx
−$60.2K −$18.82/SF
NOI
$73.6K $23.00/SF
Area
Bronx, NY
Vacancy
5.80%
Lease Rate
$44.40 /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%
$1,472,240
Cap Rate 7%
$1,051,600
Cap Rate 9%
$817,911
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$920.2K – $1.23M
NOI $73,612 @ 7.0% cap · market cap 7.01%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.22M
$1.94M – $2.59M
NOI $155,216 @ 7.0% cap · market cap 14.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,837
Businesses Nearby
Explore this area
Business Placement
Demographics for 10459, NY
50,984
Population
18,678
Households
2.7
Avg Household Size
34
Median Age
14%
College-Educated
68%
High-School Grad
0.8 sq mi
ZIP Area
63,730
Density / Sq Mi
$39,276
Median Household Income
$30,200
Median Earnings
$1,285
Median Rent
$589,500
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?
Apartment building - Two-story multifamily brick home near transportation and amenities.
Where is this apartment building located?
The property is located at 1030 Longfellow Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Multi‑family brick home offering income potential.; Four units: two 2‑bedroom, one 3‑bedroom, and one 1‑bedroom.; Convenient location near shopping, restaurants, and public transportation.
