Three-Unit Brick
New
For Sale
$1,150,000
235 E 237th Street, Bronx, NY 10470
Residential Income, Bronx, NY
Property Size3,300 SF
Lot Size0.07 Acres
Price / SF$348.48
Days on Market2
Property Features for 235 E 237th Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
8
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 4, Bedroom 2, Bedroom 1, Bedroom 7, Bedroom 6, Bathroom 4, Bedroom 8, Bathroom 5, Bathroom 1, Bedroom 5, Bathroom 3, Bathroom 2, Bedroom 3
Parking
2
Parking features
Driveway, Garage
Interior features
First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen
Elementary school
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Middle school
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High school
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Elementary school district
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Middle school district
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High school district
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Standard status
Active
APN
03378-0086
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8954
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
backyard
deck
Building Details
Year built
1965
Number of units
3
Building materials
Brick
Listing Agency:
Jane Mosello Real Estate
Listed By:
Aileen Butler O'Donnell
(914) 803-0100
Added: Sep 4
Last Checked: Sep 5 at 3:06AM
MLS# 1043047
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-unit brick triplex contains two three-bedroom, two-bath residences and one ground-floor two-bedroom, one-bath residence, with 3300 sq. ft. of combined living space. The property includes a first-floor bedroom and full bath, an eat-in kitchen, natural-gas heating, window or wall/window cooling units, and public water and sewer service. Built in 1965, the building also has an attached one-car garage and driveway parking.
Outdoor improvements include a concrete backyard and raised deck. The property is located at 235 E 237th Street in the Woodlawn section of the Bronx, within walking distance of stores, restaurants, schools, buses, and trains. Woodlawn Metro North station provides a 25 minute commute into GCS in Manhattan. All three units are currently rented to long-term tenants, with vacant delivery available if required.
Outdoor improvements include a concrete backyard and raised deck. The property is located at 235 E 237th Street in the Woodlawn section of the Bronx, within walking distance of stores, restaurants, schools, buses, and trains. Woodlawn Metro North station provides a 25 minute commute into GCS in Manhattan. All three units are currently rented to long-term tenants, with vacant delivery available if required.
Key Highlights
- Three units: two 3‑bedroom, 2‑bath residences and one 2‑bedroom, 1‑bath unit
- 3300 sq. ft. of combined total living space
- 0.0689‑acre lot with concrete backyard and raised deck
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
$83,825
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
7.29%
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%
$1,676,500
$1.7M
Cap Rate 7%
$1,197,500
$1.2M
Cap Rate 9%
$931,389
$931.4K
Market Conditions
NOI Build-Up for 3,300 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
$126.7K $38.40/SF
− Vacancy
−$7.0K −$2.11/SF
EGI
$119.8K $36.29/SF
− OpEx
−$35.9K −$10.89/SF
NOI
$83.8K $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%
$1,676,500
Cap Rate 7%
$1,197,500
Cap Rate 9%
$931,389
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $83,825 @ 7.0% cap · market cap 7.29%
Second Best
Apartment 5plus
$1.08M
$948.9K – $1.27M
NOI $75,912 @ 7.0% cap · market cap 6.60%
Theoretical Best
Warehouse
$2.29M
$2.00M – $2.67M
NOI $160,067 @ 7.0% cap · market cap 13.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,845
Businesses Nearby
Explore this area
Business Placement
Demographics for 10470, NY
16,686
Population
6,869
Households
2.4
Avg Household Size
38
Median Age
41%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
11,919
Density / Sq Mi
$81,134
Median Household Income
$54,227
Median Earnings
$1,656
Median Rent
$500,400
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?
Triplex - Multifamily property with varied unit layouts, private outdoor space, and on-site parking in the Woodlawn section of the Bronx.
Where is this triplex located?
The property is located at 235 E 237th Street 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: Three units: two 3‑bedroom, 2‑bath residences and one 2‑bedroom, 1‑bath unit; 3300 sq. ft. of combined total living space; 0.0689‑acre lot with concrete backyard and raised deck
