Bright Corner 2-Bedroom
For Sale
$315,000
Pending
2530 Independence Ave 4h The, Bronx, NY 10463
Inviting 2-bedroom apartment in Riverdale, 22 minutes from Grand Central.
Property Size950 SF
Lot Size0.44 Acres
Days on Market268
Property Features for 2530 Independence Ave 4h The
General Information
Standard status
Pending
Size
950 SF
Lot size
0.44 Acres
Property subtype
Residential
Building Details
Building Size
950 SF
Year Built
1961
Listing Agency:
Compass
(954) 816-7333
Listed By:
Geoffrey Weiss · License #10301223128
(954) 816-7333
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 22
Last Checked: Aug 22 at 11:02AM
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 Compass
Investment Insights
Based on property information with market context.
This corner 2-bedroom apartment is located in Riverdale, approximately 22 minutes from Grand Central via Metro North. The unit features a spacious living and dining area with southern exposure, providing ample natural light. Deep closets throughout the apartment offer substantial storage space. The eat-in kitchen is equipped with new appliances and overlooks a green landscape owned by the building. The cooperative building is well-maintained and features a renovated lobby, updated corridors, and a modern laundry room. Security enhancements include smart door entry and surveillance cameras throughout the building. Onsite bike storage is available, and street parking is readily accessible.
Key Highlights
- Convenient Commute: Just 22 minutes to Grand Central via Metro North.
- Abundant Natural Light: Corner unit with southern exposure provides a bright and inviting atmosphere.
- Updated Kitchen: Sunny eat‑in kitchen features brand‑new 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
$21,853
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
6.94%
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%
$437,060
$437.1K
Cap Rate 7%
$312,186
$312.2K
Cap Rate 9%
$242,811
$242.8K
Market Conditions
NOI Build-Up for 950 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
$42.2K $44.40/SF
− Vacancy
−$2.4K −$2.58/SF
EGI
$39.7K $41.82/SF
− OpEx
−$17.9K −$18.82/SF
NOI
$21.9K $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%
$437,060
Cap Rate 7%
$312,186
Cap Rate 9%
$242,811
Alternative Uses
Best Use
Apartment 5plus
$312.2K
$273.2K – $364.2K
NOI $21,853 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$658.3K
$576.0K – $768.0K
NOI $46,080 @ 7.0% cap · market cap 14.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,301
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Inviting 2-bedroom apartment in Riverdale, 22 minutes from Grand Central.
Where is this apartment building located?
The property is located at 2530 Independence Ave 4h The Bronx, NY.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Convenient Commute: Just 22 minutes to Grand Central via Metro North.; Abundant Natural Light: Corner unit with southern exposure provides a bright and inviting atmosphere.; Updated Kitchen: Sunny eat‑in kitchen features brand‑new appliances.
