Residential Income
For Sale
$1,188,000
3214 Griswold Avenue, Bronx, NY 10465
Built in 1965 with forced-air heating, a full walk-out level, private garage, and electric vehicle charging stations.
Property Size2,750 SF
Days on Market19
Property Features for 3214 Griswold Avenue
General Information
Standard status
Active
Size
2,750 SF
Total Parking Spaces
4
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$9,927
Amenities
Wall/Window Unit(s)
Forced Air, Other
Full, Walk-Out Access
Other
Fenced, Back Yard
Driveway, Electric Vehicle Charging Station(s), Garage, Garage Door Opener, Private
Building Details
Building Size
2,750 SF
Year Built
1965
Listing Agency:
(646) 599-3000
Listed By:
James Dundon
(646) 599-3000
Source:
Evrealestate
Added: Jul 28
Changed: Aug 8
Last Checked: Aug 15 at 3:39AM
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 James Dundon
Investment Insights
Based on property information with market context.
Located at 3214 Griswold Avenue in Bronx, New York, this residential income property was built in 1965. Interior features include wall/window unit(s), forced-air and other heating, plus a full level with walk-out access.
Exterior improvements include a fenced back yard, private driveway, garage, garage door opener, and electric vehicle charging station(s). The property is in Bronx County and carries the 10465 ZIP code.
Exterior improvements include a fenced back yard, private driveway, garage, garage door opener, and electric vehicle charging station(s). The property is in Bronx County and carries the 10465 ZIP code.
Key Highlights
- Built in 1965
- Full level with walk‑out access
- Forced‑air and other heating
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
$63,260
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
5.32%
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%
$1,265,200
$1.3M
Cap Rate 7%
$903,714
$903.7K
Cap Rate 9%
$702,889
$702.9K
Market Conditions
NOI Build-Up for 2,750 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
$122.1K $44.40/SF
− Vacancy
−$7.1K −$2.58/SF
EGI
$115.0K $41.82/SF
− OpEx
−$51.8K −$18.82/SF
NOI
$63.3K $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%
$1,265,200
Cap Rate 7%
$903,714
Cap Rate 9%
$702,889
Alternative Uses
Best Use
Apartment 5plus
$903.7K
$790.8K – $1.05M
NOI $63,260 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.91M
$1.67M – $2.22M
NOI $133,389 @ 7.0% cap · market cap 11.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,012
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Built in 1965 with forced-air heating, a full walk-out level, private garage, and electric vehicle charging stations.
Where is this residential income property located?
The property is located at 3214 Griswold Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,188,000.
What are key features of this property?
This property features: Built in 1965; Full level with walk‑out access; Forced‑air and other heating
