Bronx Three-Family
For Sale
$1,050,000
Pending
1350 Clay Ave The, Bronx, NY 10456
Three-family property in the Bronx with income-producing units.
Property Size2,954 SF
Lot Size0.05 Acres
Days on Market173
Property Features for 1350 Clay Ave The
General Information
Standard status
Pending
Size
2,954 SF
Lot size
0.05 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,140
Building Details
Building Size
2,954 SF
Year Built
1920
Units
3
Listing Agency:
New Group Realty Inc
(718) 496-2828
Listed By:
Tania Valdez · License #10401307872
(718) 496-2828
Source:
Elliman
Added: Mar 10
Changed: Aug 18
Last Checked: Aug 26 at 9:28AM
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 New Group Realty Inc
Investment Insights
Based on property information with market context.
This three-family property is located in the Bronx. It features two income-producing units and additional upside potential. Apartment 1, a two-bedroom unit, currently rents for $1,653 per month. Apartment 2, a three-bedroom unit, rents for $2,852 per month. Additionally, the two-car garage rentals generate $450 per month. Apartment 3, a three-bedroom unit, is currently vacant, offering immediate value-add potential through lease-up or owner occupancy. The property is positioned to benefit from strong rental demand in the area, ensuring stable cash flow with room for growth.
Key Highlights
- Income‑producing 3‑family property with existing tenants
- Immediate value‑add potential with vacant 3BR apartment
- Strong rental demand in the Bronx area
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
$76,624
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
7.30%
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%
$1,532,480
$1.5M
Cap Rate 7%
$1,094,629
$1.1M
Cap Rate 9%
$851,378
$851.4K
Market Conditions
NOI Build-Up for 2,954 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
$113.4K $38.40/SF
− Vacancy
−$4.0K −$1.34/SF
EGI
$109.5K $37.06/SF
− OpEx
−$32.8K −$11.12/SF
NOI
$76.6K $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%
$1,532,480
Cap Rate 7%
$1,094,629
Cap Rate 9%
$851,378
Alternative Uses
Best Use
Multifamily LT 5
$1.09M
$957.8K – $1.28M
NOI $76,624 @ 7.0% cap · market cap 7.30%
Second Best
Apartment 5plus
$987.0K
$863.6K – $1.15M
NOI $69,090 @ 7.0% cap · market cap 6.58%
Theoretical Best
Office A
$1.49M
$1.31M – $1.74M
NOI $104,642 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three-family property in the Bronx with income-producing units.
Where is this triplex located?
The property is located at 1350 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: Income‑producing 3‑family property with existing tenants; Immediate value‑add potential with **vacant 3BR apartment**; Strong rental demand in the Bronx area
