Detached Three-Family
For Sale
$1,250,000
2925 Wellman Avenue, Bronx, NY 10461
Vacant multifamily property with flexible layouts, private outdoor access, and a detached two-car garage.
Property Size2,820 SF
Price / SF$443.26
Days on Market137
Property Features for 2925 Wellman Avenue
General Information
Standard status
Active
Size
2,820 SF
Total Parking Spaces
2
Property subtype
Triplex
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,534
Amenities
backyard
washer/dryer
Building Details
Building Size
2,820 SF
Year Built
1930
Buildings
1
Listing Agency:
Keller Williams Realty Group
(914) 447-7064
Listed By:
Dina DiPaola-Gulli · License #10401277258
Source:
Serhant
Added: Apr 1
Changed: Aug 15
Last Checked: Aug 15 at 4:19AM
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 Keller Williams Realty Group
Investment Insights
Based on property information with market context.
This detached legal three-family residence combines multiple living areas with classic interior details, including high ceilings, parquet flooring, and hardwood floors. Each unit includes an eat-in kitchen, a dedicated living area, spacious bedrooms, and access to the backyard. The property contains approximately 2,820 square feet of living space and includes a separately entered one-bedroom apartment with a combo washer/dryer.
Additional improvements include a motorized two-car garage, a roof updated in 2021, and siding replaced in 2013. The property will be delivered vacant, allowing the next owner to evaluate the multi-unit configuration without existing occupancy. Pelham Bay Park, transit, schools, and shopping are located nearby.
Additional improvements include a motorized two-car garage, a roof updated in 2021, and siding replaced in 2013. The property will be delivered vacant, allowing the next owner to evaluate the multi-unit configuration without existing occupancy. Pelham Bay Park, transit, schools, and shopping are located nearby.
Key Highlights
- Legal three‑family detached residence delivered vacant
- Approximately 2,820 square feet of living space
- Separate‑entry one‑bedroom apartment with combo washer/dryer
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
$71,633
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
5.73%
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%
$1,432,660
$1.4M
Cap Rate 7%
$1,023,329
$1.0M
Cap Rate 9%
$795,922
$795.9K
Market Conditions
NOI Build-Up for 2,820 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
$108.3K $38.40/SF
− Vacancy
−$6.0K −$2.11/SF
EGI
$102.3K $36.29/SF
− OpEx
−$30.7K −$10.89/SF
NOI
$71.6K $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%
$1,432,660
Cap Rate 7%
$1,023,329
Cap Rate 9%
$795,922
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$895.4K – $1.19M
NOI $71,633 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$926.7K
$810.9K – $1.08M
NOI $64,870 @ 7.0% cap · market cap 5.19%
Theoretical Best
Warehouse
$1.95M
$1.71M – $2.28M
NOI $136,784 @ 7.0% cap · market cap 10.94%
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
2,348
Businesses Nearby
Explore this area
Business Placement
Demographics for 10461, NY
54,901
Population
20,418
Households
2.7
Avg Household Size
38
Median Age
27%
College-Educated
82%
High-School Grad
2.4 sq mi
ZIP Area
22,875
Density / Sq Mi
$65,023
Median Household Income
$45,445
Median Earnings
$1,741
Median Rent
$640,400
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 - Vacant multifamily property with flexible layouts, private outdoor access, and a detached two-car garage.
Where is this triplex located?
The property is located at 2925 Wellman Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Legal three‑family detached residence delivered vacant; Approximately 2,820 square feet of living space; Separate‑entry one‑bedroom apartment with combo washer/dryer
