Vacant Four-Unit
New
For Sale
$1,200,000
1256 Noble Ave The, Bronx, NY 10472
Three two-bedroom apartments and one one-bedroom apartment provide a defined residential unit mix.
Property Size3,321 SF
Days on Market7
Property Features for 1256 Noble Ave The
General Information
Standard status
Active
Size
3,321 SF
Property subtype
Investment
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
Units
4
Listing Agency:
Village Plaza Realty
(516) 353-0787
Listed By:
Phillip L. Greenblatt
(516) 353-0787
Source:
Elliman
Added: Aug 5
Changed: Aug 6
Last Checked: Aug 11 at 9:57AM
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 legally configured four-unit townhouse contains three two-bedroom apartments and one one-bedroom apartment. The property is vacant and requires work, allowing the next owner to address the building’s condition and unit interiors. A full basement adds usable supporting space and can be accessed from the front, rear, and interior of the building.
The property is in the Soundview section of The Bronx at 1256 Noble Ave. Walk Score is 95, Transit Score is 93, and Bike Score is 51, placing transportation, shopping, and schools within convenient reach by foot, transit, or bicycle.
The property is in the Soundview section of The Bronx at 1256 Noble Ave. Walk Score is 95, Transit Score is 93, and Bike Score is 51, placing transportation, shopping, and schools within convenient reach by foot, transit, or bicycle.
Key Highlights
- Legal four‑unit townhouse with three two‑bedroom apartments and one one‑bedroom apartment
- Fully vacant delivery
- Full basement with front, rear, and interior entrances
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
Property Profile
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Three two-bedroom apartments and one one-bedroom apartment provide a defined residential unit mix.
Where is this quadplex located?
The property is located at 1256 Noble Ave The 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‑unit townhouse with three two‑bedroom apartments and one one‑bedroom apartment; Fully vacant delivery; Full basement with front, rear, and interior entrances
