Residential Income Property with River
For Sale
$660,000
2400 JOHNSON Avenue 1K, Bronx, NY 10463
Two-bedroom co-op residence with a flexible den, private patio, full-service amenities, and convenient rail and bus connections.
Property Size1,300 SF
Price / SF$507.69
Days on Market82
Property Features for 2400 JOHNSON Avenue 1K
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Apartment
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/2BA + den
Multifamily Units
1
Additional Details
HOA Fee
$2,233
Amenities
24-hour attended lobby
live-in super
community patio
year round indoor pool
laundry on every other floor
Building Details
Building Size
1,300 SF
Year Built
1969
Listing Agency:
Brown Harris Stevens Riverdale LLC
Listed By:
Belkis Tappan · License #10401208982 (NY)
(917) 923-4795
Source:
Miradorrealestate
Added: Jun 15
Changed: Sep 2
Last Checked: Sep 2 at 2:23AM
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 1,300-square-foot co-op residence at 2400 Johnson Avenue offers two bedrooms, two bathrooms, and a separate office or den that can function as a third bedroom. The layout includes an entry hall with substantial closet storage, an L-shaped living and dining area, a windowed kitchen with granite countertops and stainless steel appliances, parquet flooring, and a private patio with views toward the Harlem and Hudson Rivers and Inwood Park. The primary suite includes a large bathroom with a walk-in shower, while the second bathroom has a tub and window exposure.
The full-service building includes a 24-hour attended lobby, live-in superintendent, community patio, year-round indoor pool, and laundry facilities on alternating floors. Heat, water, and sewer are included in monthly maintenance. A three-level parking garage serves the building, and pets are permitted. The property is near the Spuyten Duyvil Metro-North station, local and express bus routes, parks, schools, shops, restaurants, coffee shops, and Wave Hill, a 28-acre public cultural garden overlooking the Hudson River and Palisades.
The full-service building includes a 24-hour attended lobby, live-in superintendent, community patio, year-round indoor pool, and laundry facilities on alternating floors. Heat, water, and sewer are included in monthly maintenance. A three-level parking garage serves the building, and pets are permitted. The property is near the Spuyten Duyvil Metro-North station, local and express bus routes, parks, schools, shops, restaurants, coffee shops, and Wave Hill, a 28-acre public cultural garden overlooking the Hudson River and Palisades.
Key Highlights
- 1,300 SF co‑op residence with 2 bedrooms, 2 bathrooms, and a flexible office/den
- Private patio with views of the Harlem and Hudson Rivers and Inwood Park
- Windowed kitchen with granite countertops and stainless steel appliances
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
$29,905
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
4.53%
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%
$598,100
$598.1K
Cap Rate 7%
$427,214
$427.2K
Cap Rate 9%
$332,278
$332.3K
Market Conditions
NOI Build-Up for 1,300 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
$57.7K $44.40/SF
− Vacancy
−$3.3K −$2.58/SF
EGI
$54.4K $41.82/SF
− OpEx
−$24.5K −$18.82/SF
NOI
$29.9K $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%
$598,100
Cap Rate 7%
$427,214
Cap Rate 9%
$332,278
Alternative Uses
Best Use
Apartment 5plus
$427.2K
$373.8K – $498.4K
NOI $29,905 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$900.8K
$788.2K – $1.05M
NOI $63,057 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Paved road access
Yes
Utilities to site
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom co-op residence with a flexible den, private patio, full-service amenities, and convenient rail and bus connections.
Where is this residential income property located?
The property is located at 2400 JOHNSON Avenue 1K Bronx, NY.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: 1,300 SF co‑op residence with 2 bedrooms, 2 bathrooms, and a flexible office/den; Private patio with views of the Harlem and Hudson Rivers and Inwood Park; Windowed kitchen with granite countertops and stainless steel appliances
