Multi-Unit Residential
For Sale
$1,098,000
1922 Hering Avenue, Bronx, NY 10461
Residential income property with natural gas, driveway access, and a fenced backyard.
Property Size2,123 SF
Days on Market79
Property Features for 1922 Hering Avenue
General Information
Standard status
Active
Size
2,123 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$6,264
Amenities
Multi Units
Natural Gas
Entrance Foyer
Fenced, Back Yard
Driveway
Tudor
Building Details
Building Size
2,123 SF
Year Built
1950
Listing Agency:
TODAY REALTY CORP.
(718) 597-1777
Listed By:
Vincent Buccieri · License #10301203112
(718) 597-1777
Source:
Evrealestate
Added: May 27
Changed: Aug 8
Last Checked: Aug 13 at 5:16AM
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 TODAY REALTY CORP.
Investment Insights
Based on property information with market context.
This multi-unit residential income property, built in 1950, includes natural gas service and an entrance foyer. Exterior features include a fenced backyard, driveway, and Tudor-style design.
The property is located at 1922 Hering Avenue in Bronx, New York, within Bronx County.
The property is located at 1922 Hering Avenue in Bronx, New York, within Bronx County.
Key Highlights
- Multi‑unit residential income property
- Built in 1950
- Natural gas service and entrance foyer
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
$48,837
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
4.45%
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%
$976,740
$976.7K
Cap Rate 7%
$697,671
$697.7K
Cap Rate 9%
$542,633
$542.6K
Market Conditions
NOI Build-Up for 2,123 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
$94.3K $44.40/SF
− Vacancy
−$5.5K −$2.58/SF
EGI
$88.8K $41.82/SF
− OpEx
−$40.0K −$18.82/SF
NOI
$48.8K $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%
$976,740
Cap Rate 7%
$697,671
Cap Rate 9%
$542,633
Alternative Uses
Best Use
Apartment 5plus
$697.7K
$610.5K – $814.0K
NOI $48,837 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.47M
$1.29M – $1.72M
NOI $102,976 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,454
Businesses Nearby
Explore this area
Business Placement
Demographics for 10461, NY
54,901
Population
20,418
Households
2.7
Avg Household Size
38
Median Age
27%
College-Educated
82%
High-School Grad
2.4 sq mi
ZIP Area
22,875
Density / Sq Mi
$65,023
Median Household Income
$45,445
Median Earnings
$1,741
Median Rent
$640,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Residential income property with natural gas, driveway access, and a fenced backyard.
Where is this residential income property located?
The property is located at 1922 Hering Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,098,000.
What are key features of this property?
This property features: Multi‑unit residential income property; Built in 1950; Natural gas service and entrance foyer
