Three-Unit Residential
New
For Sale
$1,150,000
235 E 237th St The, Bronx, NY 10470
Income-producing residential property with multiple layouts, attached parking, and outdoor space in a transit-accessible Bronx setting.
Property Size3,298 SF
Price / SF$348.48
Days on Market2
Property Features for 235 E 237th St The
General Information
Standard status
Active
Size
3,298 SF
Property subtype
Investment
Units
Unit Mix
2 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,954
Amenities
backyard
deck
Building Details
Building Size
3,298 SF
Year Built
1965
Buildings
1
Units
3
Tenancy
Multi
Listing Agency:
Jane Mosello Real Estate
Listed By:
Aileen Butler O'Donnell
(914) 803-0100
Source:
Elliman
Added: Sep 5
Last Checked: Sep 6 at 11:33AM
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 Jane Mosello Real Estate
Investment Insights
Based on property information with market context.
Located at 235 E 237th St in The Bronx, this three-unit residential property contains 3300 sq. ft of combined living space. The unit mix includes two three-bedroom, two-bath residences and one ground-floor two-bedroom, one-bath residence. Built in 1965, the property also includes an attached one-car garage, driveway parking, a concrete backyard, and a raised deck.
All three units are currently rented with long-term tenants, with delivery vacant available if required. The property is within walking distance of stores, restaurants, schools, buses, and trains. Woodlawn Metro North station is associated with a 25 minute commute to GCS in Manhattan. WalkScore is 90, TransitScore is 80, and BikeScore is 50.
All three units are currently rented with long-term tenants, with delivery vacant available if required. The property is within walking distance of stores, restaurants, schools, buses, and trains. Woodlawn Metro North station is associated with a 25 minute commute to GCS in Manhattan. WalkScore is 90, TransitScore is 80, and BikeScore is 50.
Key Highlights
- Three‑unit property with two 3‑bedroom, 2‑bath units and one 2‑bedroom, 1‑bath unit
- 3300 sq. ft of combined total living space
- All units currently rented with long term tenants
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
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 - Income-producing residential property with multiple layouts, attached parking, and outdoor space in a transit-accessible Bronx setting.
Where is this triplex located?
The property is located at 235 E 237th St 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: Three‑unit property with two 3‑bedroom, 2‑bath units and one 2‑bedroom, 1‑bath unit; 3300 sq. ft of combined total living space; All units currently rented with long term tenants
