Three-Unit Multifamily
For Sale
$989,900
2016 Lafayette Ave The, Bronx, NY 10473
Three apartments include two upper-level three-bedroom units and a ground-level one-bedroom walk-in apartment.
Property Size2,860 SF
Price / SF$346.12
Days on Market8
Property Features for 2016 Lafayette Ave The
General Information
Standard status
Active
Size
2,860 SF
Property subtype
Investment
Units
Unit Mix
2 x 3BR, 1 x 1BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,793
Amenities
balcony
fenced yard
Building Details
Building Size
2,860 SF
Year Built
1965
Buildings
1
Units
3
Listing Agency:
eXp Realty
Listed By:
Marc Giles
(917) 721-5415
Source:
Elliman
Added: Sep 11
Changed: Sep 12
Last Checked: Sep 16 at 5:15PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This 2,860-square-foot triplex, built in 1965, contains two three-bedroom apartments on the upper floors and a one-bedroom walk-in apartment at ground level. The second floor includes a front-facing balcony, while fenced front and rear yards provide additional outdoor space. A private driveway and dedicated garage offer off-street parking.
The property is located at 2016 Lafayette Ave in The Bronx, NY 10473. BJ’s Wholesale Club, ShopRite, Starbucks, neighborhood shopping plazas, dining, public transportation, and parks or recreation areas are nearby. WalkScore is 93, TransitScore is 92, and BikeScore is 52.
The property is located at 2016 Lafayette Ave in The Bronx, NY 10473. BJ’s Wholesale Club, ShopRite, Starbucks, neighborhood shopping plazas, dining, public transportation, and parks or recreation areas are nearby. WalkScore is 93, TransitScore is 92, and BikeScore is 52.
Key Highlights
- 2,860 SF triplex built in 1965
- Unit mix includes two 3‑bedroom apartments and one 1‑bedroom walk‑in apartment
- Second‑floor balcony plus fully fenced front and back yards
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
$72,649
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%
$1,452,980
$1.5M
Cap Rate 7%
$1,037,843
$1.0M
Cap Rate 9%
$807,211
$807.2K
Market Conditions
NOI Build-Up for 2,860 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
$109.8K $38.40/SF
− Vacancy
−$6.0K −$2.11/SF
EGI
$103.8K $36.29/SF
− OpEx
−$31.1K −$10.89/SF
NOI
$72.6K $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%
$1,452,980
Cap Rate 7%
$1,037,843
Cap Rate 9%
$807,211
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$908.1K – $1.21M
NOI $72,649 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$939.9K
$822.4K – $1.10M
NOI $65,790 @ 7.0% cap · market cap 6.65%
Theoretical Best
Warehouse
$1.98M
$1.73M – $2.31M
NOI $138,725 @ 7.0% cap · market cap 14.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,659
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three apartments include two upper-level three-bedroom units and a ground-level one-bedroom walk-in apartment.
Where is this triplex located?
The property is located at 2016 Lafayette Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $989,900.
What are key features of this property?
This property features: 2,860 SF triplex built in 1965; Unit mix includes two 3‑bedroom apartments and one 1‑bedroom walk‑in apartment; Second‑floor balcony plus fully fenced front and back yards
