Three-Family Home with Detached
For Sale
$915,000
2952 Miles Ave The, Bronx, NY 10465
Three separate units with a detached garage, offered as-is and ready for renovation in Throggs Neck.
Property Size2,400 SF
Days on Market66
Property Features for 2952 Miles Ave The
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Investment
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,279
Building Details
Building Size
2,400 SF
Year Built
1930
Units
3
Tenancy
Multi
Listing Agency:
Real Broker NY LLC
(646) 717-6003
Listed By:
Christopher Motta
(646) 717-6003
Source:
Elliman
Added: Jun 7
Changed: Aug 7
Last Checked: Aug 10 at 3:38AM
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 Real Broker NY LLC
Investment Insights
Based on property information with market context.
This three-family residential property is configured as three separate units, offering flexible living or rental arrangements. A detached garage adds practical off-street utility for residents and operators. The home requires updating and renovation, making it suitable for buyers looking to customize finishes and improve the property’s condition according to their own plans. The property is being sold as-is.
Located in the heart of Throggs Neck, the address is described as being moments from Tremont Avenue, with convenient access to everyday amenities. Public remarks also reference proximity to shopping, restaurants, schools, parks, and public transportation. BikeScore is listed as 28 (somewhat bikeable) and walkScore as 25 (car-dependent), while transitScore is listed as 46, indicating moderate access to transit options.
For owner-users, the layout supports occupancy in one unit while renting the other units. For investors, the three-unit structure provides a straightforward income-producing configuration, with the detached garage supporting day-to-day resident needs. Because the property is offered as-is and is described as needing renovation, buyers should plan for capital improvements to bring the asset up to their target standard.
Located in the heart of Throggs Neck, the address is described as being moments from Tremont Avenue, with convenient access to everyday amenities. Public remarks also reference proximity to shopping, restaurants, schools, parks, and public transportation. BikeScore is listed as 28 (somewhat bikeable) and walkScore as 25 (car-dependent), while transitScore is listed as 46, indicating moderate access to transit options.
For owner-users, the layout supports occupancy in one unit while renting the other units. For investors, the three-unit structure provides a straightforward income-producing configuration, with the detached garage supporting day-to-day resident needs. Because the property is offered as-is and is described as needing renovation, buyers should plan for capital improvements to bring the asset up to their target standard.
Key Highlights
- Three‑family property in Throggs Neck built in 1930
- Features three separate units with a detached garage
- Property is sold as‑is and requires updating and renovation
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
$60,964
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
6.66%
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%
$1,219,280
$1.2M
Cap Rate 7%
$870,914
$870.9K
Cap Rate 9%
$677,378
$677.4K
Market Conditions
NOI Build-Up for 2,400 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
$92.2K $38.40/SF
− Vacancy
−$5.1K −$2.11/SF
EGI
$87.1K $36.29/SF
− OpEx
−$26.1K −$10.89/SF
NOI
$61.0K $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%
$1,219,280
Cap Rate 7%
$870,914
Cap Rate 9%
$677,378
Alternative Uses
Best Use
Multifamily LT 5
$870.9K
$762.1K – $1.02M
NOI $60,964 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$788.7K
$690.1K – $920.2K
NOI $55,209 @ 7.0% cap · market cap 6.03%
Theoretical Best
Warehouse
$1.66M
$1.46M – $1.94M
NOI $116,412 @ 7.0% cap · market cap 12.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
751
Businesses Nearby
Explore this area
Business Placement
Demographics for 10465, NY
45,799
Population
17,200
Households
2.7
Avg Household Size
40
Median Age
29%
College-Educated
86%
High-School Grad
3.9 sq mi
ZIP Area
11,743
Density / Sq Mi
$90,255
Median Household Income
$52,787
Median Earnings
$1,774
Median Rent
$602,000
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?
Triplex - Three separate units with a detached garage, offered as-is and ready for renovation in Throggs Neck.
Where is this triplex located?
The property is located at 2952 Miles Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $915,000.
What are key features of this property?
This property features: Three‑family property in Throggs Neck built in 1930; Features three separate units with a detached garage; Property is sold as‑is and requires updating and renovation
