Renovated 3-Family
For Sale
$1,150,000
2001 Prospect Avenue, Bronx, NY 10457
Vacant three-family property with renovated units, front parking, and a fully fenced private backyard.
Property Size2,400 SF
Days on Market74
Property Features for 2001 Prospect Avenue
General Information
Standard status
Active
Size
2,400 SF
Total Parking Spaces
1
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR, 1 x 3BR duplex, 1 x studio
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,472
Amenities
private, fully fenced backyard
Building Details
Building Size
2,400 SF
Year Built
1994
Buildings
1
Units
3
Listing Agency:
Century 21 Milestone Team Rlty
(857) 253-1101
Listed By:
Tano Holmes
(857) 253-1101
Source:
Mahlerrealty
Added: Jun 17
Changed: Aug 28
Last Checked: Aug 29 at 10:19AM
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 Century 21 Milestone Team Rlty
Investment Insights
Based on property information with market context.
Built in 1994, this legal three-family property is delivered vacant with all three residences renovated within the past two years. The configuration includes a two-bedroom apartment, a three-bedroom duplex, and a studio, creating a varied unit mix within one residential income property.
The property includes front parking and a private, fully fenced backyard. It is positioned on the border of Crotona Park North and Belmont, with public transportation, shopping, and the restaurants of Arthur Avenue nearby.
The property includes front parking and a private, fully fenced backyard. It is positioned on the border of Crotona Park North and Belmont, with public transportation, shopping, and the restaurants of Arthur Avenue nearby.
Key Highlights
- Legal three‑family property delivered vacant
- All units renovated within the past two years
- Unit mix includes a 2 bedroom apartment, 3 bedroom duplex, and studio
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
$60,964
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
5.30%
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%
$1,219,280
$1.2M
Cap Rate 7%
$870,914
$870.9K
Cap Rate 9%
$677,378
$677.4K
Market Conditions
NOI Build-Up for 2,400 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
$92.2K $38.40/SF
− Vacancy
−$5.1K −$2.11/SF
EGI
$87.1K $36.29/SF
− OpEx
−$26.1K −$10.89/SF
NOI
$61.0K $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%
$1,219,280
Cap Rate 7%
$870,914
Cap Rate 9%
$677,378
Alternative Uses
Best Use
Multifamily LT 5
$870.9K
$762.1K – $1.02M
NOI $60,964 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$788.7K
$690.1K – $920.2K
NOI $55,209 @ 7.0% cap · market cap 4.80%
Theoretical Best
Warehouse
$1.66M
$1.46M – $1.94M
NOI $116,412 @ 7.0% cap · market cap 10.12%
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
3,732
Businesses Nearby
Explore this area
Business Placement
Demographics for 10457, NY
77,488
Population
27,795
Households
2.8
Avg Household Size
33
Median Age
15%
College-Educated
70%
High-School Grad
1.3 sq mi
ZIP Area
59,606
Density / Sq Mi
$44,911
Median Household Income
$30,564
Median Earnings
$1,400
Median Rent
$336,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Vacant three-family property with renovated units, front parking, and a fully fenced private backyard.
Where is this triplex located?
The property is located at 2001 Prospect Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Legal three‑family property delivered vacant; All units renovated within the past two years; Unit mix includes a 2 bedroom apartment, 3 bedroom duplex, and studio
