Vacant Quadplex
For Sale
$1,200,000
1256 Noble Avenue, Bronx, NY 10472
Four-family townhouse with basement access, renovation needs, and immediate vacancy for a new owner.
Property Size3,321 SF
Days on Market12
Property Features for 1256 Noble Avenue
General Information
Standard status
Active
Size
3,321 SF
Property subtype
Residential Income
Units
Unit Mix
3 x 2BR, 1 x 1BR
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$17,335
Building Details
Building Size
3,321 SF
Year Built
1926
Buildings
1
Units
4
Listing Agency:
Village Plaza Realty
(516) 353-0787
Listed By:
Phillip L. Greenblatt
(516) 353-0787
Source:
Cohenandcohenrealty
Added: Jul 31
Changed: Aug 11
Last Checked: Aug 11 at 6:34AM
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 Village Plaza Realty
Investment Insights
Based on property information with market context.
Built in 1926, this legal four-family townhouse contains three two-bedroom apartments and one one-bedroom apartment. The property includes a full basement with separate front, rear, and interior entrances, adding useful access and storage areas. It will be delivered fully vacant and requires work, allowing the next owner to address the existing condition and reestablish operations.
The property is in the Soundview section of the Bronx, with transportation, shopping, and schools located within walking distance.
The property is in the Soundview section of the Bronx, with transportation, shopping, and schools located within walking distance.
Key Highlights
- Legal four‑family townhouse with three two‑bedroom apartments and one one‑bedroom apartment
- Full basement with front, rear, and interior entrances
- Delivered fully vacant
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
$84,359
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
7.03%
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%
$1,687,180
$1.7M
Cap Rate 7%
$1,205,129
$1.2M
Cap Rate 9%
$937,322
$937.3K
Market Conditions
NOI Build-Up for 3,321 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
$127.5K $38.40/SF
− Vacancy
−$7.0K −$2.11/SF
EGI
$120.5K $36.29/SF
− OpEx
−$36.2K −$10.89/SF
NOI
$84.4K $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%
$1,687,180
Cap Rate 7%
$1,205,129
Cap Rate 9%
$937,322
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.05M – $1.41M
NOI $84,359 @ 7.0% cap · market cap 7.03%
Second Best
Apartment 5plus
$1.09M
$954.9K – $1.27M
NOI $76,395 @ 7.0% cap · market cap 6.37%
Theoretical Best
Warehouse
$2.30M
$2.01M – $2.68M
NOI $161,085 @ 7.0% cap · market cap 13.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,261
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-family townhouse with basement access, renovation needs, and immediate vacancy for a new owner.
Where is this quadplex located?
The property is located at 1256 Noble Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Legal four‑family townhouse with three two‑bedroom apartments and one one‑bedroom apartment; Full basement with front, rear, and interior entrances; Delivered fully vacant
