Quadplex with Two
For Sale
$999,999
206-208 Balcom Avenue, Bronx, NY 10465
Four residential units, garage space, and designated parking support flexible occupancy and rental use.
Property Size2,000 SF
Days on Market41
Property Features for 206-208 Balcom Avenue
General Information
Standard status
Active
Size
2,000 SF
Total Parking Spaces
2
Property subtype
Residential Income
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$18,787
Building Details
Building Size
2,000 SF
Year Built
1964
Units
4
Listing Agency:
eXp Realty
(917) 599-8976
Listed By:
Manuel Galan
(917) 599-8976
Source:
Cohenandcohenrealty
Added: Jul 6
Changed: Aug 8
Last Checked: Aug 15 at 12:31PM
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.
Built in 1964, this four-unit property includes two large garages and two designated exterior parking spaces. At least one unit is expected to be vacant by closing, providing flexibility for an owner-occupant or rental strategy. Tenants pay their own utilities, while the landlord pays for water usage. The roof was installed within the last 5 years.
The property is located at 206-208 Balcom Avenue in the Bronx, one block from the waterfront. East Tremont’s commercial strip and the Throgs Neck Ferry station are within walking distance. The property is in an X flood zone, and no flood insurance is needed.
The property is located at 206-208 Balcom Avenue in the Bronx, one block from the waterfront. East Tremont’s commercial strip and the Throgs Neck Ferry station are within walking distance. The property is in an X flood zone, and no flood insurance is needed.
Key Highlights
- Four‑unit property built in 1964
- Two large garages plus two designated exterior parking spaces
- At least one unit expected to be vacant by closing
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
$50,803
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
5.08%
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%
$1,016,060
$1.0M
Cap Rate 7%
$725,757
$725.8K
Cap Rate 9%
$564,478
$564.5K
Market Conditions
NOI Build-Up for 2,000 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
$76.8K $38.40/SF
− Vacancy
−$4.2K −$2.11/SF
EGI
$72.6K $36.29/SF
− OpEx
−$21.8K −$10.89/SF
NOI
$50.8K $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%
$1,016,060
Cap Rate 7%
$725,757
Cap Rate 9%
$564,478
Alternative Uses
Best Use
Multifamily LT 5
$725.8K
$635.0K – $846.7K
NOI $50,803 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$657.2K
$575.1K – $766.8K
NOI $46,007 @ 7.0% cap · market cap 4.60%
Theoretical Best
Warehouse
$1.39M
$1.21M – $1.62M
NOI $97,010 @ 7.0% cap · market cap 9.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,178
Businesses Nearby
Explore this area
Business Placement
Demographics for 10465, NY
45,799
Population
17,200
Households
2.7
Avg Household Size
40
Median Age
29%
College-Educated
86%
High-School Grad
3.9 sq mi
ZIP Area
11,743
Density / Sq Mi
$90,255
Median Household Income
$52,787
Median Earnings
$1,774
Median Rent
$602,000
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 residential units, garage space, and designated parking support flexible occupancy and rental use.
Where is this quadplex located?
The property is located at 206-208 Balcom Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Four‑unit property built in 1964; Two large garages plus two designated exterior parking spaces; At least one unit expected to be vacant by closing
