Residential Income Property with
For Sale
$374,999
2400 JOHNSON Avenue 12F, Bronx, NY 10463
A renovated separate kitchen and private terrace accompany a one-bedroom residence with river and park views.
Property Size750 SF
Price / SF$499
Days on Market10
Property Features for 2400 JOHNSON Avenue 12F
General Information
Standard status
Active
Size
750 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
24-hour attended lobby
live-in superintendent
laundry rooms on most floors
indoor heated swimming pool
newly constructed gym
indoor parking with storage bins
central heating
built-in wall A/C
terrace
floor-to-ceiling mirrored closets
Building Details
Building Size
750 SF
Year Built
1969
Listing Agency:
Brown Harris Stevens Riverdale LLC
Listed By:
Sandhya N Tidke
(212) 381-2485
Source:
Carlinwright
Added: Sep 22
Changed: Sep 27
Last Checked: Sep 30 at 4:34PM
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 Brown Harris Stevens Riverdale LLC
Investment Insights
Based on property information with market context.
This 750-square-foot residence includes a foyer, living room, dining room, separate renovated kitchen, one bedroom, bathroom, and terrace. Floor-to-ceiling glass doors open to the terrace, while plank wood floors, mirrored closets, and additional storage are found throughout. The kitchen has granite countertops and stainless steel appliances. Central heating and built-in wall air-conditioning units serve the living room and bedroom. The building dates to 1969.
Building services and amenities include a 24-hour attended lobby, live-in superintendent, laundry rooms on most floors, an indoor heated pool, a gym, and indoor parking with storage bins. The residence overlooks the Hudson and Harlem Rivers, the Palisades, and Inwood Hill Park. Spuyten Duyvil Metro-North station is a five-minute walk, with a stated 30-minute ride to Grand Central Terminal. Bus service and the #1 train are also cited nearby.
Building services and amenities include a 24-hour attended lobby, live-in superintendent, laundry rooms on most floors, an indoor heated pool, a gym, and indoor parking with storage bins. The residence overlooks the Hudson and Harlem Rivers, the Palisades, and Inwood Hill Park. Spuyten Duyvil Metro-North station is a five-minute walk, with a stated 30-minute ride to Grand Central Terminal. Bus service and the #1 train are also cited nearby.
Key Highlights
- 750‑square‑foot residence with a private terrace
- Renovated separate kitchen with granite countertops and stainless steel appliances
- Living room and bedroom have built‑in wall air‑conditioning units
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
$17,253
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
4.60%
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%
$345,060
$345.1K
Cap Rate 7%
$246,471
$246.5K
Cap Rate 9%
$191,700
$191.7K
Market Conditions
NOI Build-Up for 750 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
$33.3K $44.40/SF
− Vacancy
−$1.9K −$2.58/SF
EGI
$31.4K $41.82/SF
− OpEx
−$14.1K −$18.82/SF
NOI
$17.3K $23.00/SF
Area
Bronx, NY
Vacancy
5.80%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
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%
$345,060
Cap Rate 7%
$246,471
Cap Rate 9%
$191,700
Alternative Uses
Best Use
Apartment 5plus
$246.5K
$215.7K – $287.6K
NOI $17,253 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$519.7K
$454.7K – $606.3K
NOI $36,379 @ 7.0% cap · market cap 9.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,285
Businesses Nearby
Explore this area
Business Placement
Demographics for 10463, NY
71,301
Population
30,602
Households
2.3
Avg Household Size
41
Median Age
44%
College-Educated
85%
High-School Grad
2.8 sq mi
ZIP Area
25,465
Density / Sq Mi
$72,952
Median Household Income
$48,409
Median Earnings
$1,611
Median Rent
$352,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A renovated separate kitchen and private terrace accompany a one-bedroom residence with river and park views.
Where is this residential income property located?
The property is located at 2400 JOHNSON Avenue 12F Bronx, NY.
What is the asking price?
The asking price for this property is $374,999.
What are key features of this property?
This property features: 750‑square‑foot residence with a private terrace; Renovated separate kitchen with granite countertops and stainless steel appliances; Living room and bedroom have built‑in wall air‑conditioning units
