Three-Family Brick
For Sale
$985,000
1059 Ward Avenue, Bronx, NY 10472
MULTI_FAMILY - Bronx, NY
Property Size3,520 SF
Lot Size0.06 Acres
Price / SF$279.83
Days on Market148
Property Features for 1059 Ward Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R6
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 3, Bedroom 5, Bedroom 1, Bathroom 2, Bedroom 2
Parking features
On Street
Basement
Apartment
Lot features
Back Yard
Subdivision
Off Island
Standard status
Active
APN
03715-0041
Size
3,520 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
7254
Utilities
Sewer type
Public Sewer
Heating system
Steam, Natural Gas
Building Details
Year built
1930
Floors in Building
2
Number of units
3
Building materials
Brick
Listing Agency:
Robert DeFalco Realty, Inc.
(718) 987-7900
Listed By:
Hani M Ayad · License #10401298430
(718) 987-7900
Added: Mar 20
Changed: Aug 2
Last Checked: Aug 14 at 11:06AM
MLS# 2601435
Copyright © 2026 Staten Island Board of Realtors. 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.
1059 Ward Avenue in Bronx is a brick three-family building built in 1930. The property sits on a 0.0574-acre lot and has a total building size of 3,520 SF. Heating is provided by steam and natural gas systems, and sewer service is listed as public sewer. Parking is described as on-street.
The property is zoned R6 with a C1-2 overlay. Access is drive-by only; the remarks indicate the property is uninhabitable and dangerous, and that the agent was unable to get in. All information is subject to E&O.
The interior configuration includes multiple bedrooms and bathrooms as listed in the rooms breakdown.
The property is zoned R6 with a C1-2 overlay. Access is drive-by only; the remarks indicate the property is uninhabitable and dangerous, and that the agent was unable to get in. All information is subject to E&O.
The interior configuration includes multiple bedrooms and bathrooms as listed in the rooms breakdown.
Key Highlights
- Zoned R6 with C1‑2 overlay
- Brick three‑family building
- 0.0574‑acre lot
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
$89,414
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
9.08%
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%
$1,788,280
$1.8M
Cap Rate 7%
$1,277,343
$1.3M
Cap Rate 9%
$993,489
$993.5K
Market Conditions
NOI Build-Up for 3,520 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
$135.2K $38.40/SF
− Vacancy
−$7.4K −$2.11/SF
EGI
$127.7K $36.29/SF
− OpEx
−$38.3K −$10.89/SF
NOI
$89.4K $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%
$1,788,280
Cap Rate 7%
$1,277,343
Cap Rate 9%
$993,489
Alternative Uses
Best Use
Multifamily LT 5
$1.28M
$1.12M – $1.49M
NOI $89,414 @ 7.0% cap · market cap 9.08%
Second Best
Apartment 5plus
$1.16M
$1.01M – $1.35M
NOI $80,973 @ 7.0% cap · market cap 8.22%
Theoretical Best
Warehouse
$2.44M
$2.13M – $2.85M
NOI $170,738 @ 7.0% cap · market cap 17.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,308
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Zoned R6 with a C1-2 overlay, this brick three-family building offers steam and natural gas heat.
Where is this triplex located?
The property is located at 1059 Ward Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: Zoned R6 with C1‑2 overlay; Brick three‑family building; 0.0574‑acre lot
