Residential Income Property with Outdoor
For Sale
$365,000
152 Tier Street 106=B, Bronx, NY 10464
Bright condominium residence with a fenced outdoor area, designated parking, and basement storage.
Property Size835 SF
Price / SF$437.13
Days on Market40
Property Features for 152 Tier Street 106=B
General Information
Standard status
Active
Size
835 SF
Total Parking Spaces
1
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,604
Building Details
Building Size
835 SF
Year Built
1988
Listing Agency:
R New York
(212) 810-9231
Listed By:
Sandra Salander · License #10401234338
(212) 810-9231
Source:
Howardhannanyc
Added: Jul 7
Changed: Aug 14
Last Checked: Aug 14 at 5:36AM
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 R New York
Investment Insights
Based on property information with market context.
This 835-square-foot residential income property, built in 1988, is configured as a bright condominium residence with an open living and dining area, one bedroom, and a pass-through kitchen. The kitchen includes granite countertops, quality cabinetry, and a large pantry. Interior features include hardwood flooring, updated doors and hardware, revised bathroom and lighting fixtures, a bay window, double-size bedroom closet, and an entry hallway with stackable laundry appliances.
The unit includes a fully fenced private outdoor area, one designated parking space near the entrance, and an 8' x 8' secure basement storage locker. The property is located on Tier Street in City Island, a waterfront community in the Bronx with yacht clubs, private beaches, art galleries, shops, restaurants, schools, a library, and public transit access. The condominium community also provides landscaped outdoor areas with gazebos and stone patios.
The unit includes a fully fenced private outdoor area, one designated parking space near the entrance, and an 8' x 8' secure basement storage locker. The property is located on Tier Street in City Island, a waterfront community in the Bronx with yacht clubs, private beaches, art galleries, shops, restaurants, schools, a library, and public transit access. The condominium community also provides landscaped outdoor areas with gazebos and stone patios.
Key Highlights
- 835 SF condominium residence built in 1988
- Fully fenced private outdoor space
- Pass‑through kitchen with granite countertops and large pantry
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
$19,208
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
5.26%
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%
$384,160
$384.2K
Cap Rate 7%
$274,400
$274.4K
Cap Rate 9%
$213,422
$213.4K
Market Conditions
NOI Build-Up for 835 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
$37.1K $44.40/SF
− Vacancy
−$2.2K −$2.58/SF
EGI
$34.9K $41.82/SF
− OpEx
−$15.7K −$18.82/SF
NOI
$19.2K $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%
$384,160
Cap Rate 7%
$274,400
Cap Rate 9%
$213,422
Alternative Uses
Best Use
Apartment 5plus
$274.4K
$240.1K – $320.1K
NOI $19,208 @ 7.0% cap · market cap 5.26%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$578.6K
$506.3K – $675.0K
NOI $40,502 @ 7.0% cap · market cap 11.10%
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
415
Businesses Nearby
Explore this area
Business Placement
Demographics for 10464, NY
4,592
Population
2,255
Households
2
Avg Household Size
50
Median Age
46%
College-Educated
94%
High-School Grad
3.1 sq mi
ZIP Area
1,481
Density / Sq Mi
$100,306
Median Household Income
$70,148
Median Earnings
$1,993
Median Rent
$667,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Bright condominium residence with a fenced outdoor area, designated parking, and basement storage.
Where is this residential income property located?
The property is located at 152 Tier Street 106=B Bronx, NY.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 835 SF condominium residence built in 1988; Fully fenced private outdoor space; Pass‑through kitchen with granite countertops and large pantry
