Detached Legal Three-Family
For Sale
$1,150,000
Pending
2907 Lafayette Ave The, Bronx, NY 10465
Detached brick legal three-family home with two vacant units, one rented unit, and an indoor garage.
Property Size4,500 SF
Days on Market63
Property Features for 2907 Lafayette Ave The
General Information
Standard status
Pending
Size
4,500 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$9,620
Building Details
Building Size
4,500 SF
Year Built
1988
Units
3
Listed By:
Ramon Gonzalez
(718) 684-1260
Source:
Elliman
Added: Jul 2
Changed: Aug 8
Last Checked: Sep 1 at 8:50PM
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 Ramon Gonzalez
Investment Insights
Based on property information with market context.
This well-maintained detached brick legal three-family home offers three separate apartments with a functional layout and bright living spaces. The first-floor unit is a 1-bedroom apartment and is fully vacant. The second-floor unit is a 3-bedroom apartment and is fully vacant. The third-floor unit is also a 3-bedroom apartment and is currently rented. The property includes three boilers and three hot water tanks, along with a dedicated laundry room and an indoor garage.
Located at 2907 Lafayette Ave in the Bronx, the home is in a convenient, accessible area with an excellent transit score, along with car-dependent walkability and somewhat bikeable conditions.
Additional site details include a 46-by-100 lot size.
Located at 2907 Lafayette Ave in the Bronx, the home is in a convenient, accessible area with an excellent transit score, along with car-dependent walkability and somewhat bikeable conditions.
Additional site details include a 46-by-100 lot size.
Key Highlights
- Detached brick legal 3‑family home built in 1988
- Lot size 46x100 with indoor garage
- First‑floor 1BR apartment is 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
$103,516
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
9.00%
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%
$2,070,320
$2.1M
Cap Rate 7%
$1,478,800
$1.5M
Cap Rate 9%
$1,150,178
$1.2M
Market Conditions
NOI Build-Up for 4,500 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
$199.8K $44.40/SF
− Vacancy
−$11.6K −$2.58/SF
EGI
$188.2K $41.82/SF
− OpEx
−$84.7K −$18.82/SF
NOI
$103.5K $23.00/SF
Area
Bronx, NY
Vacancy
5.80%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
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%
$2,070,320
Cap Rate 7%
$1,478,800
Cap Rate 9%
$1,150,178
Alternative Uses
Best Use
Multifamily LT 5
$1.63M
$1.43M – $1.91M
NOI $114,307 @ 7.0% cap · market cap 9.94%
Second Best
Apartment 5plus
$1.48M
$1.29M – $1.73M
NOI $103,516 @ 7.0% cap · market cap 9.00%
Theoretical Best
Warehouse
$3.12M
$2.73M – $3.64M
NOI $218,273 @ 7.0% cap · market cap 18.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,501
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 - Detached brick legal three-family home with two vacant units, one rented unit, and an indoor garage.
Where is this triplex located?
The property is located at 2907 Lafayette Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Detached brick legal 3‑family home built in 1988; Lot size 46x100 with indoor garage; First‑floor 1BR apartment is fully vacant
