Legal 3-Family Home with
For Sale
$1,269,000
Pending
261 E 239th St The, Bronx, NY 10470
Move-in ready legal three-family home with private driveway and garage plus in-unit and separate-entry flexibility.
Property Size3,733 SF
Days on Market98
Property Features for 261 E 239th St The
General Information
Standard status
Pending
Size
3,733 SF
Property subtype
Investment
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,985
Building Details
Building Size
3,733 SF
Year Built
1925
Units
3
Listing Agency:
Double C Realty
Listed By:
Kieran Dwyer
(914) 629-7649
Source:
Elliman
Added: Jun 3
Changed: Aug 23
Last Checked: Sep 8 at 7:21AM
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 Double C Realty
Investment Insights
Based on property information with market context.
This legal three-family home is presented in total move-in condition and offers a private driveway and a one-car garage. Each unit includes original hardwood flooring and generous closet space, with distinctive architectural character throughout. The first-floor residence features soaring ceilings, a wood-burning fireplace in the living room, a formal dining room, a sunroom, two bedrooms, and direct access to the backyard, along with an in-unit washer/dryer. The second-floor apartment includes a bright living room, two bedrooms, and access to a private deck. The top-floor unit offers a dining area, two sun-filled bedrooms, and strong ceiling height.
The home is located in the Woodlawn Heights vicinity of The Bronx, approximately 25 minutes north of Manhattan. It is described as being minutes from buses and trains, Van Cortlandt Park, shopping, restaurants, and PS 19 school, with access to major parkways.
With three apartments plus a finished lower level that includes three additional rooms, a full bathroom, and a separate entrance, the property suits both owner-occupants and investors seeking flexible living and layout options. The inclusion of in-unit laundry on the first floor and multiple outdoor areas, including the backyard and private deck, adds day-to-day practicality for tenant comfort.
The home is located in the Woodlawn Heights vicinity of The Bronx, approximately 25 minutes north of Manhattan. It is described as being minutes from buses and trains, Van Cortlandt Park, shopping, restaurants, and PS 19 school, with access to major parkways.
With three apartments plus a finished lower level that includes three additional rooms, a full bathroom, and a separate entrance, the property suits both owner-occupants and investors seeking flexible living and layout options. The inclusion of in-unit laundry on the first floor and multiple outdoor areas, including the backyard and private deck, adds day-to-day practicality for tenant comfort.
Key Highlights
- Legal 3‑family home built in 1925 with private driveway and a 1‑car garage
- Move‑in ready with in‑unit washer/dryer in the first‑floor residence
- First‑floor unit features soaring ceilings, wood‑burning fireplace, formal dining room, and direct backyard access
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
$94,824
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
7.47%
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%
$1,896,480
$1.9M
Cap Rate 7%
$1,354,629
$1.4M
Cap Rate 9%
$1,053,600
$1.1M
Market Conditions
NOI Build-Up for 3,733 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
$143.3K $38.40/SF
− Vacancy
−$7.9K −$2.11/SF
EGI
$135.5K $36.29/SF
− OpEx
−$40.6K −$10.89/SF
NOI
$94.8K $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%
$1,896,480
Cap Rate 7%
$1,354,629
Cap Rate 9%
$1,053,600
Alternative Uses
Best Use
Multifamily LT 5
$1.35M
$1.19M – $1.58M
NOI $94,824 @ 7.0% cap · market cap 7.47%
Second Best
Apartment 5plus
$1.23M
$1.07M – $1.43M
NOI $85,873 @ 7.0% cap · market cap 6.77%
Theoretical Best
Warehouse
$2.59M
$2.26M – $3.02M
NOI $181,069 @ 7.0% cap · market cap 14.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
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 - Move-in ready legal three-family home with private driveway and garage plus in-unit and separate-entry flexibility.
Where is this triplex located?
The property is located at 261 E 239th St The Bronx, NY.
What is the asking price?
The asking price for this property is $1,269,000.
What are key features of this property?
This property features: Legal 3‑family home built in 1925 with private driveway and a 1‑car garage; Move‑in ready with in‑unit washer/dryer in the first‑floor residence; First‑floor unit features soaring ceilings, wood‑burning fireplace, formal dining room, and direct backyard access
