Two-Family Dutch Gambrel
For Sale
$1,450,000
Pending
3131 Fairfield Ave The, Bronx, NY 10463
Renovated two-family residence in a freestanding brick and clapboard Dutch Gambrel style with a fenced backyard.
Property Size2,770 SF
Days on Market123
Property Features for 3131 Fairfield Ave The
General Information
Standard status
Pending
Size
2,770 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$12,840
Building Details
Building Size
2,770 SF
Year Built
1954
Units
2
Listing Agency:
Bizzarro Agency LLC
Listed By:
Matthew J Bizzarro
(917) 979-2259
Source:
Elliman
Added: May 9
Changed: Sep 8
Last Checked: Sep 8 at 8:10AM
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 Bizzarro Agency LLC
Investment Insights
Based on property information with market context.
This renovated two-family Dutch Gambrel home is a freestanding brick and clapboard structure built in 1954, featuring dormers and a private, fenced backyard. The property is arranged across three levels to support two separate residences, with a main-level unit offering three bedrooms, including a primary suite, and two baths. The main level also includes a great room concept with living and dining space, a fireplace, and a remodeled open chef’s kitchen with white stone counters, a center island, and stainless steel appliances.
The top residence includes two additional bedrooms, a living/dining area, French doors, a remodeled gourmet kitchen, and a full bath. The finished ground level offers laundry, two additional bathrooms, two additional large rooms, and easy access to the backyard. A generous front porch and detailed interior features, including built-in nooks and ample closet space, round out the home’s character.
The property is set well back from a treelined residential street in the Spuyten Duyvil area, with convenient access to highways, subway transportation, and express buses nearby.
The top residence includes two additional bedrooms, a living/dining area, French doors, a remodeled gourmet kitchen, and a full bath. The finished ground level offers laundry, two additional bathrooms, two additional large rooms, and easy access to the backyard. A generous front porch and detailed interior features, including built-in nooks and ample closet space, round out the home’s character.
The property is set well back from a treelined residential street in the Spuyten Duyvil area, with convenient access to highways, subway transportation, and express buses nearby.
Key Highlights
- Renovated freestanding Dutch Gambrel two‑family home built in 1954 with brick and clapboard exterior and dormers
- Main‑level residence features 3 bedrooms, including a primary suite, 2 baths, and a Great Room‑style living/dining area with fireplace
- Remodeled open chef’s kitchen on the main level includes white stone counters, center island, and stainless steel 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
$70,362
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
4.85%
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%
$1,407,240
$1.4M
Cap Rate 7%
$1,005,171
$1.0M
Cap Rate 9%
$781,800
$781.8K
Market Conditions
NOI Build-Up for 2,770 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
$106.4K $38.40/SF
− Vacancy
−$5.9K −$2.11/SF
EGI
$100.5K $36.29/SF
− OpEx
−$30.2K −$10.89/SF
NOI
$70.4K $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%
$1,407,240
Cap Rate 7%
$1,005,171
Cap Rate 9%
$781,800
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$879.5K – $1.17M
NOI $70,362 @ 7.0% cap · market cap 4.85%
Second Best
Apartment 5plus
$910.3K
$796.5K – $1.06M
NOI $63,720 @ 7.0% cap · market cap 4.39%
Theoretical Best
Warehouse
$1.92M
$1.68M – $2.24M
NOI $134,359 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,627
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?
Duplex - Renovated two-family residence in a freestanding brick and clapboard Dutch Gambrel style with a fenced backyard.
Where is this duplex located?
The property is located at 3131 Fairfield Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Renovated freestanding Dutch Gambrel two‑family home built in 1954 with brick and clapboard exterior and dormers; Main‑level residence features 3 bedrooms, including a primary suite, 2 baths, and a Great Room‑style living/dining area with fireplace; Remodeled open chef’s kitchen on the main level includes white stone counters, center island, and stainless steel appliances
