Renovated Studio Residential
For Sale
$125,000
4200 Herkimer Place 6-C, Bronx, NY 10470
An open living area includes a built-in Murphy bed and a separate kitchen with a pass-through counter.
Property Size457 SF
Price / SF$273.52
Days on Market827
Property Features for 4200 Herkimer Place 6-C
General Information
Standard status
Active
Size
457 SF
Property subtype
Apartment
Building Details
Building Size
457 SF
Year Built
1967
Listing Agency:
Robert E Hill Inc
Listed By:
Maria Moragianis
(718) 884-2200
Source:
Carlinwright
Added: Jun 27, 2024
Changed: Sep 30
Last Checked: Oct 1 at 3:41PM
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 Robert E Hill Inc
Investment Insights
Based on property information with market context.
This renovated studio residence is part of the Executive House building in the Woodlawn section of the Bronx. The 457-square-foot layout includes a separate, windowed kitchen with cabinet storage and a pass-through counter, plus a spacious living area with a wood-covered Murphy bed. A decorative fireplace has a heating option, and the bathroom has been renovated. Closet storage is also available within the unit.
The building was constructed in 1967 and has a live-in superintendent and a shared laundry room. Express bus service to New York City stops outside the building. Mass transit, shops, restaurants, Van Cortlandt Park, and tennis courts are nearby.
The building was constructed in 1967 and has a live-in superintendent and a shared laundry room. Express bus service to New York City stops outside the building. Mass transit, shops, restaurants, Van Cortlandt Park, and tennis courts are nearby.
Key Highlights
- 457‑square‑foot renovated studio
- Built in 1967
- Separate windowed kitchen with cabinet storage and pass‑through counter
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
$10,513
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
8.41%
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%
$210,260
$210.3K
Cap Rate 7%
$150,186
$150.2K
Cap Rate 9%
$116,811
$116.8K
Market Conditions
NOI Build-Up for 457 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
$20.3K $44.40/SF
− Vacancy
−$1.2K −$2.58/SF
EGI
$19.1K $41.82/SF
− OpEx
−$8.6K −$18.82/SF
NOI
$10.5K $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%
$210,260
Cap Rate 7%
$150,186
Cap Rate 9%
$116,811
Alternative Uses
Best Use
Apartment 5plus
$150.2K
$131.4K – $175.2K
NOI $10,513 @ 7.0% cap · market cap 8.41%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$316.7K
$277.1K – $369.5K
NOI $22,167 @ 7.0% cap · market cap 17.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
563
Businesses Nearby
Explore this area
Business Placement
Demographics for 10470, NY
16,686
Population
6,869
Households
2.4
Avg Household Size
38
Median Age
41%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
11,919
Density / Sq Mi
$81,134
Median Household Income
$54,227
Median Earnings
$1,656
Median Rent
$500,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - An open living area includes a built-in Murphy bed and a separate kitchen with a pass-through counter.
Where is this residential income property located?
The property is located at 4200 Herkimer Place 6-C Bronx, NY.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: 457‑square‑foot renovated studio; Built in 1967; Separate windowed kitchen with cabinet storage and pass‑through counter
