Detached 3-Family
For Sale
$1,250,000
2925 Wellman Avenue, Bronx, NY 10461
MULTI_FAMILY - Bronx, NY
Property Size2,820 SF
Lot Size0.05 Acres
Price / SF$443.26
Days on Market138
Property Features for 2925 Wellman Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 5, Bathroom 3, Dining Room, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 6, Bedroom 2, Bedroom 1
Parking features
Driveway, Garage
Interior features
First Floor Bedroom, First Floor Full Bath, Ceiling Fan(s), Eat-in Kitchen, Entrance Foyer, Formal Dining, High Ceilings, Washer/Dryer Hookup
Elementary school
Ps 71 Rose E Scala
Middle school
Ps 71 Rose E Scala
High school
Herbert H Lehman High School
Elementary school district
Bronx 8
Middle school district
Bronx 8
High school district
Bronx 8
Standard status
Active
APN
05393-0039
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8535
Utilities
Sewer type
Public Sewer
Heating system
Oil
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
high ceilings
parquet flooring
hardwood flooring
eat-in kitchen
backyard access
combo washer/dryer
Building Details
Year built
1930
Number of units
3
Flooring type
Laminate, Hardwood
Building materials
Brick
Listing Agency:
Keller Williams Realty Group
(914) 713-3270
Listed By:
Dina DiPaola-Gulli · License #10401277258
(914) 447-7064
Added: Mar 31
Changed: Aug 8
Last Checked: Aug 15 at 4:06PM
MLS# 978203
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Detached legal 3-family triplex offers a versatile multi-unit layout. The home includes spacious, comfortable living spaces with high ceilings, parquet flooring, and hardwood flooring, with each unit featuring an eat-in kitchen and generously sized bedrooms. The property also provides backyard access and interior conveniences such as washer/dryer hookup, plus an additional separate-entry one-bedroom apartment with its own combo washer/dryer.
A detached motorized two-car garage supports off-street parking, with driveway access available as well. Built in 1930 with brick construction, the home has an updated roof completed in 2021 and siding updated in 2013. Heating is provided by oil, with window unit(s) and wall/window unit(s) for cooling.
The property is serviced by public water and public sewer and is delivered vacant, ready for an owner or investor to customize tenancy and operations.
A detached motorized two-car garage supports off-street parking, with driveway access available as well. Built in 1930 with brick construction, the home has an updated roof completed in 2021 and siding updated in 2013. Heating is provided by oil, with window unit(s) and wall/window unit(s) for cooling.
The property is serviced by public water and public sewer and is delivered vacant, ready for an owner or investor to customize tenancy and operations.
Key Highlights
- Approx. 2,820 SF total living space across the legal 3‑family layout plus a separate‑entry one‑bedroom apartment
- 0.0545‑acre lot
- Detached motorized two‑car garage with driveway parking
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 - Detached legal 3-family with a separate-entry one-bedroom apartment, eat-in kitchens, backyard access, and an updated roof.
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: Approx. 2,820 SF total living space across the legal 3‑family layout plus a separate‑entry one‑bedroom apartment; 0.0545‑acre lot; Detached motorized two‑car garage with driveway parking
