Side-by-Side Three-Family
For Sale
$1,249,999
865 E 178th St The, Bronx, NY 10460
Two well-maintained three-family properties built in the mid-2000s, offered together on the same block.
Property Size3,108 SF
Days on Market120
Property Features for 865 E 178th St The
General Information
Standard status
Active
Size
3,108 SF
Property subtype
Investment
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$2,766
Building Details
Building Size
3,108 SF
Year Built
2006
Units
3
Listing Agency:
eXp Realty
Listed By:
Bryan Y. Blanco · License #10401335839
(551) 209-6114
Source:
Elliman
Added: May 9
Changed: Sep 2
Last Checked: Sep 5 at 12:30PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This offering includes two very well maintained three-family buildings positioned side-by-side on the same block. Each property features spacious units with solid layouts. The buildings were constructed in the mid-2000s. The second and third floors include enough space to add a fourth bedroom if desired.
The properties can be delivered vacant or with tenants in place. They may be purchased individually or as part of a package deal that also includes 871 E 178th St, described as identical properties.
Buyer flexibility is supported by the property configuration as residential income assets with multiple units across each three-family building.
The properties can be delivered vacant or with tenants in place. They may be purchased individually or as part of a package deal that also includes 871 E 178th St, described as identical properties.
Buyer flexibility is supported by the property configuration as residential income assets with multiple units across each three-family building.
Key Highlights
- Two well‑maintained 3‑family properties built in 2006 on the same block
- Offered together; can also be sold individually or as a package deal with 871 E 178th St
- Can be delivered vacant or with tenants in place
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
$78,948
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
6.32%
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%
$1,578,960
$1.6M
Cap Rate 7%
$1,127,829
$1.1M
Cap Rate 9%
$877,200
$877.2K
Market Conditions
NOI Build-Up for 3,108 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
$119.3K $38.40/SF
− Vacancy
−$6.6K −$2.11/SF
EGI
$112.8K $36.29/SF
− OpEx
−$33.8K −$10.89/SF
NOI
$78.9K $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%
$1,578,960
Cap Rate 7%
$1,127,829
Cap Rate 9%
$877,200
Alternative Uses
Best Use
Multifamily LT 5
$1.13M
$986.9K – $1.32M
NOI $78,948 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$1.02M
$893.7K – $1.19M
NOI $71,495 @ 7.0% cap · market cap 5.72%
Theoretical Best
Warehouse
$2.15M
$1.88M – $2.51M
NOI $150,754 @ 7.0% cap · market cap 12.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
3,024
Businesses Nearby
Explore this area
Business Placement
Demographics for 10460, NY
62,625
Population
24,085
Households
2.6
Avg Household Size
34
Median Age
15%
College-Educated
71%
High-School Grad
1.5 sq mi
ZIP Area
41,750
Density / Sq Mi
$36,067
Median Household Income
$31,283
Median Earnings
$1,332
Median Rent
$589,300
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 - Two well-maintained three-family properties built in the mid-2000s, offered together on the same block.
Where is this triplex located?
The property is located at 865 E 178th St The Bronx, NY.
What is the asking price?
The asking price for this property is $1,249,999.
What are key features of this property?
This property features: Two well‑maintained 3‑family properties built in 2006 on the same block; Offered together; can also be sold individually or as a package deal with 871 E 178th St; Can be delivered vacant or with tenants in place
