Top-Floor Residential Income
For Sale
$400,000
3135 JOHNSON Avenue 17A, Bronx, NY 10463
Two-bedroom co-op residence with a private terrace, skyline views, parquet floors, and a windowed galley kitchen.
Property Size975 SF
Price / SF$410.26
Days on Market43
Property Features for 3135 JOHNSON Avenue 17A
General Information
Standard status
Active
Size
975 SF
Property subtype
Apartment
Building Details
Building Size
975 SF
Year Built
1953
Listing Agency:
Brown Harris Stevens Riverdale LLC
(212) 381-2485
Listed By:
Sandhya N Tidke
(212) 381-2485
Source:
Howardhannanyc
Added: Jul 13
Changed: Aug 23
Last Checked: Aug 24 at 12:33PM
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 975-square-foot, top-floor co-op at Edmond Lee is configured as a two-bedroom residence with southern and western exposures. The home includes a living and dining area, parquet hardwood flooring, a windowed galley kitchen with extensive cabinetry and stone countertops, and a primary bedroom with double exposure and two oversized double closets. A private terrace adds outdoor space and skyline views. Built in 1953, the property also offers substantial hallway storage.
Edmond Lee is a full-service, pet-friendly building with a 24-hour doorman, seasonal outdoor pool, fitness center, laundry facilities, and indoor and outdoor parking subject to availability. The building is located near shops, restaurants, and cafés along Johnson and Riverdale Avenues, along with local parks and multiple transportation options.
Edmond Lee is a full-service, pet-friendly building with a 24-hour doorman, seasonal outdoor pool, fitness center, laundry facilities, and indoor and outdoor parking subject to availability. The building is located near shops, restaurants, and cafés along Johnson and Riverdale Avenues, along with local parks and multiple transportation options.
Key Highlights
- 975‑square‑foot top‑floor co‑op configured as a two‑bedroom residence
- Private terrace with southern and western exposures and skyline views
- Windowed galley kitchen with abundant cabinetry and stone countertops
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
$22,429
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
5.61%
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%
$448,580
$448.6K
Cap Rate 7%
$320,414
$320.4K
Cap Rate 9%
$249,211
$249.2K
Market Conditions
NOI Build-Up for 975 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
$43.3K $44.40/SF
− Vacancy
−$2.5K −$2.58/SF
EGI
$40.8K $41.82/SF
− OpEx
−$18.4K −$18.82/SF
NOI
$22.4K $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%
$448,580
Cap Rate 7%
$320,414
Cap Rate 9%
$249,211
Alternative Uses
Best Use
Apartment 5plus
$320.4K
$280.4K – $373.8K
NOI $22,429 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$675.6K
$591.2K – $788.2K
NOI $47,292 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,093
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom co-op residence with a private terrace, skyline views, parquet floors, and a windowed galley kitchen.
Where is this residential income property located?
The property is located at 3135 JOHNSON Avenue 17A Bronx, NY.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 975‑square‑foot top‑floor co‑op configured as a two‑bedroom residence; Private terrace with southern and western exposures and skyline views; Windowed galley kitchen with abundant cabinetry and stone countertops
