Three-Unit Multifamily
New
For Sale
$1,050,000
1320 Clay Ave The, Bronx, NY 10456
Semi-detached residential income property with two leased apartments, one vacant unit, and a finished basement with outside access.
Property Size2,304 SF
Days on Market4
Property Features for 1320 Clay Ave The
General Information
Standard status
Active
Size
2,304 SF
Property subtype
Investment
Zoning
R7-1
Units
Unit Mix
1 x 2BR, 2 x 3BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,677
Amenities
finished basement
Building Details
Building Size
2,304 SF
Year Built
1901
Units
3
Listing Agency:
Laffey International Realt Estate
(646) 474-6489
Listed By:
Boris Isakharov
(646) 474-6489
Source:
Elliman
Added: Aug 13
Changed: Aug 16
Last Checked: Aug 16 at 4:40AM
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 Laffey International Realt Estate
Investment Insights
Based on property information with market context.
This semi-detached triplex contains three apartments with a combined 8 bedrooms. The first-floor residence has 2 bedrooms and is leased, while the second-floor residence has 3 bedrooms and is also leased. The third-floor apartment includes 3 bedrooms and is vacant. A full finished basement with outside access adds functional space to the property.
The property is located at 1320 Clay Ave in The Bronx, NY 10456, and carries R7-1 zoning. Nearby shopping, dining, transportation, and neighborhood amenities are noted in the property information. WalkScore is 97, TransitScore is 100, and BikeScore is 79.
The property is located at 1320 Clay Ave in The Bronx, NY 10456, and carries R7-1 zoning. Nearby shopping, dining, transportation, and neighborhood amenities are noted in the property information. WalkScore is 97, TransitScore is 100, and BikeScore is 79.
Key Highlights
- Three‑apartment semi‑detached multifamily property
- Combined 8 bedrooms across the three apartments
- First‑floor 2‑bedroom apartment is leased
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
$59,764
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
5.69%
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%
$1,195,280
$1.2M
Cap Rate 7%
$853,771
$853.8K
Cap Rate 9%
$664,044
$664.0K
Market Conditions
NOI Build-Up for 2,304 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
$88.5K $38.40/SF
− Vacancy
−$3.1K −$1.34/SF
EGI
$85.4K $37.06/SF
− OpEx
−$25.6K −$11.12/SF
NOI
$59.8K $25.94/SF
Area
ZIP 10456
Vacancy
3.50%
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%
$1,195,280
Cap Rate 7%
$853,771
Cap Rate 9%
$664,044
Alternative Uses
Best Use
Multifamily LT 5
$853.8K
$747.1K – $996.1K
NOI $59,764 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$769.8K
$673.6K – $898.1K
NOI $53,888 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,617 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
5,131
Businesses Nearby
Explore this area
Business Placement
Demographics for 10456, NY
93,412
Population
33,321
Households
2.8
Avg Household Size
34
Median Age
14%
College-Educated
68%
High-School Grad
1.1 sq mi
ZIP Area
84,920
Density / Sq Mi
$35,676
Median Household Income
$30,340
Median Earnings
$1,194
Median Rent
$428,800
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?
Triplex - Semi-detached residential income property with two leased apartments, one vacant unit, and a finished basement with outside access.
Where is this triplex located?
The property is located at 1320 Clay Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Three‑apartment semi‑detached multifamily property; Combined 8 bedrooms across the three apartments; First‑floor 2‑bedroom apartment is leased
