Renovated Residential Income
New
For Sale
$549,000
150 SURF Drive 482, Bronx, NY 10473
Two-level townhouse condominium with three bedrooms, updated interiors, and access to extensive gated-community amenities.
Property Size1,210 SF
Price / SF$453.72
Days on Market7
Property Features for 150 SURF Drive 482
General Information
Standard status
Active
Size
1,210 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
24-hour security
clubhouse
media room
playroom
gym
yoga studio
swimming pools
playground
grilling areas
basketball court
tennis court
Building Details
Building Size
1,210 SF
Year Built
2008
Listing Agency:
Corcoran Group
(718) 844-6255
Listed By:
Ramona Vicenty · License #10401283307 (NY)
(718) 844-6255
Source:
Bondnyre
Added: Aug 2
Changed: Aug 5
Last Checked: Aug 8 at 9:02AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
This renovated townhouse condominium is a two-level residential income property with 1,210 square feet of living space. The first floor includes updated flooring, freshly painted walls, a contemporary kitchen, and a living room. Three bedrooms are located upstairs, including a primary suite with an en-suite bathroom. Flooring has been updated throughout the home, which was built in 2008.
The gated community provides 24-hour security along with a clubhouse, media and playrooms, gym, yoga studios, swimming pools, playground, grilling areas, basketball courts, and tennis courts. The property is also served by the first ferry stop at the Soundview/Clason Point hub, with bus routes Bx27 and Bx39 outside the complex. Shopping centers, the Whitestone Bridge, Throggs Neck Bridge, Long Island, and the Q.44 route are accessible from the community.
A 25-year tax abatement began in the year built and expires in 2031.
The gated community provides 24-hour security along with a clubhouse, media and playrooms, gym, yoga studios, swimming pools, playground, grilling areas, basketball courts, and tennis courts. The property is also served by the first ferry stop at the Soundview/Clason Point hub, with bus routes Bx27 and Bx39 outside the complex. Shopping centers, the Whitestone Bridge, Throggs Neck Bridge, Long Island, and the Q.44 route are accessible from the community.
A 25-year tax abatement began in the year built and expires in 2031.
Key Highlights
- 1,210‑square‑foot townhouse condominium with three bedrooms
- Renovated interiors include new flooring, fresh paint, and a contemporary kitchen
- Primary bedroom includes an en‑suite bathroom
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
$27,834
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
5.07%
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%
$556,680
$556.7K
Cap Rate 7%
$397,629
$397.6K
Cap Rate 9%
$309,267
$309.3K
Market Conditions
NOI Build-Up for 1,210 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
$53.7K $44.40/SF
− Vacancy
−$3.1K −$2.58/SF
EGI
$50.6K $41.82/SF
− OpEx
−$22.8K −$18.82/SF
NOI
$27.8K $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%
$556,680
Cap Rate 7%
$397,629
Cap Rate 9%
$309,267
Alternative Uses
Best Use
Apartment 5plus
$397.6K
$347.9K – $463.9K
NOI $27,834 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$838.4K
$733.6K – $978.2K
NOI $58,691 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
298
Businesses Nearby
Explore this area
Business Placement
Demographics for 10473, NY
62,692
Population
23,234
Households
2.7
Avg Household Size
38
Median Age
24%
College-Educated
75%
High-School Grad
2.1 sq mi
ZIP Area
29,853
Density / Sq Mi
$50,609
Median Household Income
$40,049
Median Earnings
$1,131
Median Rent
$586,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level townhouse condominium with three bedrooms, updated interiors, and access to extensive gated-community amenities.
Where is this residential income property located?
The property is located at 150 SURF Drive 482 Bronx, NY.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: 1,210‑square‑foot townhouse condominium with three bedrooms; Renovated interiors include new flooring, fresh paint, and a contemporary kitchen; Primary bedroom includes an en‑suite bathroom
