Mott Haven Three-Family
For Sale
$874,888
323 Concord Ave The, Bronx, NY 10454
Impeccably maintained, fully leased three-family residence in Mott Haven.
Property Size2,148 SF
Days on Market171
Property Features for 323 Concord Ave The
General Information
Standard status
Active
Size
2,148 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,997
Building Details
Building Size
2,148 SF
Year Built
1910
Stories
3
Listing Agency:
Top Nest Inc
Listed By:
Yat Chi (Stanley) Ng
(646) 828-6378
Source:
Elliman
Added: Apr 14
Changed: Oct 1
Last Checked: Oct 1 at 11:25AM
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 Top Nest Inc
Investment Insights
Based on property information with market context.
This three-family residence is located on a quiet, residential street in Mott Haven. The property features three generously scaled units, each with upgraded kitchens, contemporary baths, and abundant natural light. All units are fully leased to reliable tenants, providing a consistent, market-aligned income stream and a 5% cap rate. The property is situated moments from the Bronx waterfront, dining, cultural venues, and multiple transit options, including the 2, 5, and 6 trains, offering connectivity to Manhattan. The location has a bike score of 71, indicating it is very bikeable, a walk score of 90, indicating it is very walkable, and a transit score of 100, indicating it is a rider's paradise. This property is an investment opportunity for stability and long-term growth in a high-demand neighborhood.
Key Highlights
- Turnkey investment property with a 5% cap rate and consistent income stream from fully leased units.
- Located in the high‑demand, rapidly evolving Mott Haven neighborhood.
- Excellent transit options with a perfect transit score of 100, providing effortless connectivity to Manhattan via the 2, 5, and 6 trains.
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
$54,563
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
6.24%
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%
$1,091,260
$1.1M
Cap Rate 7%
$779,471
$779.5K
Cap Rate 9%
$606,256
$606.3K
Market Conditions
NOI Build-Up for 2,148 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
$82.5K $38.40/SF
− Vacancy
−$4.5K −$2.11/SF
EGI
$77.9K $36.29/SF
− OpEx
−$23.4K −$10.89/SF
NOI
$54.6K $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%
$1,091,260
Cap Rate 7%
$779,471
Cap Rate 9%
$606,256
Alternative Uses
Best Use
Multifamily LT 5
$779.5K
$682.0K – $909.4K
NOI $54,563 @ 7.0% cap · market cap 6.24%
Second Best
Apartment 5plus
$705.9K
$617.7K – $823.5K
NOI $49,412 @ 7.0% cap · market cap 5.65%
Theoretical Best
Warehouse
$1.49M
$1.30M – $1.74M
NOI $104,189 @ 7.0% cap · market cap 11.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,809
Businesses Nearby
Explore this area
Business Placement
Demographics for 10454, NY
40,232
Population
15,397
Households
2.6
Avg Household Size
33
Median Age
14%
College-Educated
62%
High-School Grad
1.1 sq mi
ZIP Area
36,575
Density / Sq Mi
$27,500
Median Household Income
$31,243
Median Earnings
$1,064
Median Rent
$780,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Impeccably maintained, fully leased three-family residence in Mott Haven.
Where is this triplex located?
The property is located at 323 Concord Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $874,888.
What are key features of this property?
This property features: Turnkey investment property with a 5% cap rate and consistent income stream from fully leased units.; Located in the high‑demand, rapidly evolving Mott Haven neighborhood.; Excellent transit options with a perfect transit score of 100, providing effortless connectivity to Manhattan via the 2, 5, and 6 trains.
