Four-Unit Brick Multifamily
New
For Sale
$1,150,000
2043 Mayflower Ave The, Bronx, NY 10461
Four-family brick building with a varied apartment mix, walkout basement, garage, and driveway parking.
Property Size3,075 SF
Days on Market2
Property Features for 2043 Mayflower Ave The
General Information
Standard status
Active
Size
3,075 SF
Property subtype
Investment
Units
Unit Mix
3 x 2BR, 1 x 1BR
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$14,784
Amenities
walkout basement
Building Details
Building Size
3,075 SF
Year Built
1928
Buildings
1
Units
4
Construction
brick-front
Listing Agency:
Keller Williams Realty Group
Listed By:
Alexandra L. Fischer
(914) 557-8212
Source:
Elliman
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 3 at 2:00AM
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 Keller Williams Realty Group
Investment Insights
Based on property information with market context.
Built in 1928, this brick multifamily property contains four apartments: three two-bedroom units and one renovated one-bedroom unit. The building also includes a walkout basement, a private two-car garage, and driveway parking, providing useful additional space and on-site parking.
The property is located on Mayflower Avenue in Pelham Bay, near transportation, shopping, restaurants, schools, and Pelham Bay Park. Walkability is limited, while biking and transit scores are notably stronger, with a bikeScore of 93, walkScore of 34, and transitScore of 90.
The property is located on Mayflower Avenue in Pelham Bay, near transportation, shopping, restaurants, schools, and Pelham Bay Park. Walkability is limited, while biking and transit scores are notably stronger, with a bikeScore of 93, walkScore of 34, and transitScore of 90.
Key Highlights
- Four‑family configuration with three two‑bedroom apartments and one renovated one‑bedroom apartment
- 1928 construction with brick exterior
- Walkout basement included
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
$78,110
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
6.79%
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%
$1,562,200
$1.6M
Cap Rate 7%
$1,115,857
$1.1M
Cap Rate 9%
$867,889
$867.9K
Market Conditions
NOI Build-Up for 3,075 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
$118.1K $38.40/SF
− Vacancy
−$6.5K −$2.11/SF
EGI
$111.6K $36.29/SF
− OpEx
−$33.5K −$10.89/SF
NOI
$78.1K $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%
$1,562,200
Cap Rate 7%
$1,115,857
Cap Rate 9%
$867,889
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$976.4K – $1.30M
NOI $78,110 @ 7.0% cap · market cap 6.79%
Second Best
Apartment 5plus
$1.01M
$884.2K – $1.18M
NOI $70,736 @ 7.0% cap · market cap 6.15%
Theoretical Best
Warehouse
$2.13M
$1.86M – $2.49M
NOI $149,153 @ 7.0% cap · market cap 12.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,742
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-family brick building with a varied apartment mix, walkout basement, garage, and driveway parking.
Where is this quadplex located?
The property is located at 2043 Mayflower Ave The 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: Four‑family configuration with three two‑bedroom apartments and one renovated one‑bedroom apartment; 1928 construction with brick exterior; Walkout basement included
