Brick Three-Family
New
For Sale
$1,350,000
1388 Bristow St The, Bronx, NY 10459
Multifamily property with a finished basement, separate utilities, and a paved backyard.
Property Size3,900 SF
Price / SF$346.15
Days on Market3
Property Features for 1388 Bristow St The
General Information
Standard status
Active
Size
3,900 SF
Property subtype
Investment
Units
Unit Mix
1 x 2BR/2BA, 2 x 3BR/2BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,000
Building Details
Building Size
3,900 SF
Year Built
1991
Buildings
1
Stories
3
Units
3
Construction
brick
Listing Agency:
Allgold Realty Corp
(914) 837-0431
Listed By:
Alidu James
(914) 837-0431
Source:
Elliman
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 22 at 10:08AM
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 Allgold Realty Corp
Investment Insights
Based on property information with market context.
This brick three-family property, built in 1991, is arranged across three residential floors with approximately 3900 sqft of living area. The first floor includes two bedrooms, two full bathrooms, a kitchen, dining area, and open living room. Each upper floor offers three bedrooms, two full bathrooms, a kitchen, dining area, and living room; the second-floor primary bedroom includes a private bath and walk-in closet. The finished basement has an open layout, high ceilings, a full bathroom, and space described for a potential two-bedroom apartment.
Separate building systems include 4 hot water tanks, 4 boilers, 4 gas meters, and 4 electric meters. The backyard is paved. The property is located at 1388 Bristow St in the Longwood section of The Bronx, with a Walk Score of 82, a Bike Score of 76, and a Transit Score of 100.
Separate building systems include 4 hot water tanks, 4 boilers, 4 gas meters, and 4 electric meters. The backyard is paved. The property is located at 1388 Bristow St in the Longwood section of The Bronx, with a Walk Score of 82, a Bike Score of 76, and a Transit Score of 100.
Key Highlights
- Three‑family brick property built in 1991
- Approximately 3900 sqft with 3 residential units
- Seven bathrooms across the building, including a basement full bath
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
$99,066
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
7.34%
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%
$1,981,320
$2.0M
Cap Rate 7%
$1,415,229
$1.4M
Cap Rate 9%
$1,100,733
$1.1M
Market Conditions
NOI Build-Up for 3,900 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
$149.8K $38.40/SF
− Vacancy
−$8.2K −$2.11/SF
EGI
$141.5K $36.29/SF
− OpEx
−$42.5K −$10.89/SF
NOI
$99.1K $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%
$1,981,320
Cap Rate 7%
$1,415,229
Cap Rate 9%
$1,100,733
Alternative Uses
Best Use
Multifamily LT 5
$1.42M
$1.24M – $1.65M
NOI $99,066 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$1.28M
$1.12M – $1.50M
NOI $89,714 @ 7.0% cap · market cap 6.65%
Theoretical Best
Warehouse
$2.70M
$2.36M – $3.15M
NOI $189,170 @ 7.0% cap · market cap 14.01%
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
3,378
Businesses Nearby
Explore this area
Business Placement
Demographics for 10459, NY
50,984
Population
18,678
Households
2.7
Avg Household Size
34
Median Age
14%
College-Educated
68%
High-School Grad
0.8 sq mi
ZIP Area
63,730
Density / Sq Mi
$39,276
Median Household Income
$30,200
Median Earnings
$1,285
Median Rent
$589,500
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?
Triplex - Multifamily property with a finished basement, separate utilities, and a paved backyard.
Where is this triplex located?
The property is located at 1388 Bristow St The Bronx, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Three‑family brick property built in 1991; Approximately 3900 sqft with 3 residential units; Seven bathrooms across the building, including a basement full bath
