Updated Residential Income
For Sale
$459,000
3130 IRWIN Avenue 8C, Bronx, NY 10463
Three-bedroom co-op residence with park views, custom cabinetry, and extensive building amenities.
Property Size1,200 SF
Price / SF$382.50
Days on Market47
Property Features for 3130 IRWIN Avenue 8C
General Information
Standard status
Active
Size
1,200 SF
Elevators
Yes
Property subtype
Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR/1.5BA
Multifamily Units
1
Amenities
doorman
handicap accessibility
live-in superintendent
pet-friendly
laundry room
bike storage
storage units
playground area
Building Details
Building Size
1,200 SF
Year Built
1961
Listing Agency:
Brown Harris Stevens Riverdale LLC
(561) 371-1648
Listed By:
Brian Beaudry
(561) 371-1648
Source:
Carlinwright
Added: Jun 30
Changed: Aug 10
Last Checked: Aug 15 at 12:20PM
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 1,200-square-foot co-op apartment in a 1961 high-rise offers three bedrooms, one full bathroom, and a primary bedroom with an en-suite half bath and bidet. Western and eastern exposures overlook Ewen Park. Interior features include a marble-tiled entry, hardwood floors, a large living room, generous closet capacity, and a dining area adjoining the updated galley kitchen. Custom cabinetry is installed throughout, and the apartment may be sold partially furnished.
Tibbett Towers provides concrete floor construction, dual elevators, handicap accessibility, a part-time doorman or security attendant, a live-in superintendent, and pet access for dogs with board approval. Building amenities include a new 24/7 laundry room, bike storage, storage units, parking, and a playground. Monthly maintenance covers electricity, gas, heat, hot water, and property taxes. The property is near shops, restaurants, schools, parks, gyms, major highways, the 1 Train, and Metro-North.
Tibbett Towers provides concrete floor construction, dual elevators, handicap accessibility, a part-time doorman or security attendant, a live-in superintendent, and pet access for dogs with board approval. Building amenities include a new 24/7 laundry room, bike storage, storage units, parking, and a playground. Monthly maintenance covers electricity, gas, heat, hot water, and property taxes. The property is near shops, restaurants, schools, parks, gyms, major highways, the 1 Train, and Metro-North.
Key Highlights
- 1,200‑square‑foot co‑op apartment with three bedrooms and 1.5 bathrooms
- Western and eastern exposures with views over Ewen Park
- Updated galley kitchen with dining area and custom cabinetry throughout
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
$27,604
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
6.01%
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%
$552,080
$552.1K
Cap Rate 7%
$394,343
$394.3K
Cap Rate 9%
$306,711
$306.7K
Market Conditions
NOI Build-Up for 1,200 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
$53.3K $44.40/SF
− Vacancy
−$3.1K −$2.58/SF
EGI
$50.2K $41.82/SF
− OpEx
−$22.6K −$18.82/SF
NOI
$27.6K $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%
$552,080
Cap Rate 7%
$394,343
Cap Rate 9%
$306,711
Alternative Uses
Best Use
Apartment 5plus
$394.3K
$345.1K – $460.1K
NOI $27,604 @ 7.0% cap · market cap 6.01%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$831.5K
$727.6K – $970.1K
NOI $58,206 @ 7.0% cap · market cap 12.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,655
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 - Three-bedroom co-op residence with park views, custom cabinetry, and extensive building amenities.
Where is this residential income property located?
The property is located at 3130 IRWIN Avenue 8C Bronx, NY.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: 1,200‑square‑foot co‑op apartment with three bedrooms and 1.5 bathrooms; Western and eastern exposures with views over Ewen Park; Updated galley kitchen with dining area and custom cabinetry throughout
