Gut-Renovated Three-Family
For Sale
$1,599,999
Pending
1817 Barnes Ave The, Bronx, NY 10462
Fully updated triplex with three-bedroom units, modern kitchens, and independent ductless heating and cooling.
Property Size2,940 SF
Days on Market115
Property Features for 1817 Barnes Ave The
General Information
Standard status
Pending
Size
2,940 SF
Property subtype
Investment
Units
Unit Mix
2 x 3BR/2BA, 1 x 3BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,737
Amenities
private deck
Building Details
Building Size
2,940 SF
Year Built
1899
Buildings
1
Stories
3
Units
3
Listing Agency:
RE/MAX City Square
(917) 578-9622
Listed By:
Aaron L. Ram · License #10301214421
Source:
Elliman
Added: May 9
Changed: Aug 30
Last Checked: Aug 30 at 3:17PM
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 RE/MAX City Square
Investment Insights
Based on property information with market context.
This three-family property was comprehensively renovated with updated plumbing, electrical, and structural components. Each residence has its own ductless heating and air-conditioning system, while modern interiors feature recessed lighting, hardwood-style flooring, and contemporary kitchen and bathroom finishes.
The first and second floors each contain three bedrooms, two bathrooms, an open living area, and a modern kitchen. The third-floor apartment offers three bedrooms, one bathroom, and a private rear deck. The building dates to 1899 and combines the scale of a traditional multifamily residence with extensively refreshed interiors.
Walk Score is 91, Transit Score is 94, and Bike Score is 82, reflecting strong access to walking, public transportation, and cycling options.
The first and second floors each contain three bedrooms, two bathrooms, an open living area, and a modern kitchen. The third-floor apartment offers three bedrooms, one bathroom, and a private rear deck. The building dates to 1899 and combines the scale of a traditional multifamily residence with extensively refreshed interiors.
Walk Score is 91, Transit Score is 94, and Bike Score is 82, reflecting strong access to walking, public transportation, and cycling options.
Key Highlights
- Three‑family property with three‑bedroom units on every floor
- Comprehensive renovation included plumbing, electrical, and structural updates
- Each unit has independent ductless AC and heating
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
$71,391
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
4.46%
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%
$1,427,820
$1.4M
Cap Rate 7%
$1,019,871
$1.0M
Cap Rate 9%
$793,233
$793.2K
Market Conditions
NOI Build-Up for 2,940 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
$107.6K $36.60/SF
− Vacancy
−$5.6K −$1.91/SF
EGI
$102.0K $34.69/SF
− OpEx
−$30.6K −$10.41/SF
NOI
$71.4K $24.28/SF
Area
ZIP 10462
Vacancy
5.22%
Lease Rate
$36.60 /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%
$1,427,820
Cap Rate 7%
$1,019,871
Cap Rate 9%
$793,233
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$892.4K – $1.19M
NOI $71,391 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$909.0K
$795.4K – $1.06M
NOI $63,629 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$1.40M
$1.23M – $1.64M
NOI $98,197 @ 7.0% cap · market cap 6.14%
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
3,168
Businesses Nearby
Explore this area
Business Placement
Demographics for 10462, NY
84,655
Population
31,828
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
1.5 sq mi
ZIP Area
56,437
Density / Sq Mi
$63,460
Median Household Income
$42,383
Median Earnings
$1,711
Median Rent
$372,100
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 - Fully updated triplex with three-bedroom units, modern kitchens, and independent ductless heating and cooling.
Where is this triplex located?
The property is located at 1817 Barnes Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,599,999.
What are key features of this property?
This property features: Three‑family property with three‑bedroom units on every floor; Comprehensive renovation included plumbing, electrical, and structural updates; Each unit has independent ductless AC and heating
