Vacant Two-Family Bronx
For Sale
$1,200,000
Pending
3205 Lafayette Ave The, Bronx, NY 10465
Legal two-family property in Throggs Neck, delivered completely vacant.
Property Size2,162 SF
Days on Market127
Property Features for 3205 Lafayette Ave The
General Information
Standard status
Pending
Size
2,162 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$9,155
Building Details
Building Size
2,162 SF
Year Built
1922
Units
2
Listing Agency:
(914) 329-5474
Listed By:
Francesco Fiorella
(914) 329-5474
Source:
Elliman
Added: Apr 24
Changed: Aug 26
Last Checked: Aug 26 at 9:01AM
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 Francesco Fiorella
Investment Insights
Based on property information with market context.
This is a rare opportunity to acquire a fully vacant legal two-family property in the Throggs Neck section of the Bronx. Delivered completely vacant, this property provides a blank slate for investors or end-users to renovate, reconfigure, or design to exact specifications. The property offers strong upside potential with the ability to maximize rents, create a high-end owner-occupied residence with supplemental income, or tailor a multi-generational living setup. Additional features include a full basement, a garage, and a generous lot size allowing for outdoor use or future enhancements. Situated on a quiet residential block with convenient access to major highways, public transportation, and neighborhood retail, this location continues to see steady demand and long-term stability. This property is ideal for buyers seeking full control over layout, finishes, and income strategy. Vacant multifamily opportunities in Throggs Neck are extremely limited. The location has a bike score of 44, walk score of 41, and transit score of 72.
Key Highlights
- Fully vacant legal two‑family property: Provides immediate occupancy and renovation potential.
- Desirable Throggs Neck location: Offers long‑term stability and high demand.
- Strong upside potential: Ability to maximize rents or create owner‑occupied residence with income.
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
$54,918
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
4.58%
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%
$1,098,360
$1.1M
Cap Rate 7%
$784,543
$784.5K
Cap Rate 9%
$610,200
$610.2K
Market Conditions
NOI Build-Up for 2,162 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
$83.0K $38.40/SF
− Vacancy
−$4.6K −$2.11/SF
EGI
$78.5K $36.29/SF
− OpEx
−$23.5K −$10.89/SF
NOI
$54.9K $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%
$1,098,360
Cap Rate 7%
$784,543
Cap Rate 9%
$610,200
Alternative Uses
Best Use
Multifamily LT 5
$784.5K
$686.5K – $915.3K
NOI $54,918 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$710.5K
$621.7K – $828.9K
NOI $49,734 @ 7.0% cap · market cap 4.14%
Theoretical Best
Warehouse
$1.50M
$1.31M – $1.75M
NOI $104,868 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,215
Businesses Nearby
Explore this area
Business Placement
Demographics for 10465, NY
45,799
Population
17,200
Households
2.7
Avg Household Size
40
Median Age
29%
College-Educated
86%
High-School Grad
3.9 sq mi
ZIP Area
11,743
Density / Sq Mi
$90,255
Median Household Income
$52,787
Median Earnings
$1,774
Median Rent
$602,000
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 - Legal two-family property in Throggs Neck, delivered completely vacant.
Where is this duplex located?
The property is located at 3205 Lafayette Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Fully vacant legal two‑family property: Provides immediate occupancy and renovation potential.; Desirable Throggs Neck location: Offers long‑term stability and high demand.; Strong upside potential: Ability to maximize rents or create owner‑occupied residence with income.
