Renovated Residential Income
For Sale
$194,500
3215 ARLINGTON Avenue 1G, Bronx, NY 10463
Ground-floor studio with updated finishes, abundant daylight, and access to a shared community garden.
Property Size600 SF
Price / SF$324.17
Days on Market24
Property Features for 3215 ARLINGTON Avenue 1G
General Information
Standard status
Active
Size
600 SF
Property subtype
Apartment
Building Details
Building Size
600 SF
Year Built
1958
Listing Agency:
Brown Harris Stevens Riverdale LLC
Listed By:
Brian Beaudry
(561) 371-1648
Source:
Carlinwright
Added: Sep 8
Changed: Sep 29
Last Checked: Sep 30 at 6:04PM
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 ground-level studio residential income property offers 600 square feet with 9'6" beamed ceilings, hardwood flooring, and strong natural light. The interior has been renovated with a windowed kitchen featuring white shaker cabinetry, white granite counters, and stainless steel appliances. The bathroom includes an updated walk-in shower.
Built in 1958, the property is positioned near Johnson Avenue, with dining, shopping, and local and express bus service nearby. Spuyten Duyvil's Metro North Station is a short distance away, providing a 25-minute ride to Grand Central Terminal. Residents also have access to a community garden, and pets are permitted with board approval.
Built in 1958, the property is positioned near Johnson Avenue, with dining, shopping, and local and express bus service nearby. Spuyten Duyvil's Metro North Station is a short distance away, providing a 25-minute ride to Grand Central Terminal. Residents also have access to a community garden, and pets are permitted with board approval.
Key Highlights
- 600 SF ground‑floor studio
- Renovated interior with hardwood floors and 9'6" beamed ceilings
- Windowed kitchen with white shaker cabinets, white granite counters, 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
$13,802
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
7.10%
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%
$276,040
$276.0K
Cap Rate 7%
$197,171
$197.2K
Cap Rate 9%
$153,356
$153.4K
Market Conditions
NOI Build-Up for 600 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
$26.6K $44.40/SF
− Vacancy
−$1.5K −$2.58/SF
EGI
$25.1K $41.82/SF
− OpEx
−$11.3K −$18.82/SF
NOI
$13.8K $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%
$276,040
Cap Rate 7%
$197,171
Cap Rate 9%
$153,356
Alternative Uses
Best Use
Apartment 5plus
$197.2K
$172.5K – $230.0K
NOI $13,802 @ 7.0% cap · market cap 7.10%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$415.8K
$363.8K – $485.1K
NOI $29,103 @ 7.0% cap · market cap 14.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,835
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Ground-floor studio with updated finishes, abundant daylight, and access to a shared community garden.
Where is this residential income property located?
The property is located at 3215 ARLINGTON Avenue 1G Bronx, NY.
What is the asking price?
The asking price for this property is $194,500.
What are key features of this property?
This property features: 600 SF ground‑floor studio; Renovated interior with hardwood floors and 9'6" beamed ceilings; Windowed kitchen with white shaker cabinets, white granite counters, and stainless steel appliances
