Updated Two-Bedroom Income
For Sale
$339,000
3215 NETHERLAND Avenue 4E, Bronx, NY 10463
Pre-war residential unit with renovated interiors, building amenities, and convenient access to shopping, schools, parks, dining, and transit.
Property Size950 SF
Price / SF$356.84
Days on Market102
Property Features for 3215 NETHERLAND Avenue 4E
General Information
Standard status
Active
Size
950 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
lobby
laundry room
storage
outdoor garden area
Building Details
Building Size
950 SF
Year Built
1939
Listing Agency:
Brown Harris Stevens Riverdale LLC
Listed By:
Brian Beaudry
(561) 371-1648
Source:
Howardhannanyc
Added: May 27
Changed: Sep 2
Last Checked: Sep 5 at 5:07AM
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 2-bedroom, 1-bathroom residential unit offers 950 square feet of updated living space in a building constructed in 1939. Interior features include inlaid hardwood flooring, a spacious living room, five closets, and an east-facing orientation. The windowed kitchen includes stainless steel appliances and wood cabinetry, while the windowed bathroom has been renovated with new tile and fixtures.
Building amenities include a renovated lobby, main-level laundry room, live-in superintendent, storage, and an outdoor garden area. Garage parking is available through a waitlist. The property is pet-friendly with approval, and in-unit washer/dryers are permitted. Maintenance includes heat, hot water, and property taxes; residents separately handle Con Edison, cable, and internet.
Building amenities include a renovated lobby, main-level laundry room, live-in superintendent, storage, and an outdoor garden area. Garage parking is available through a waitlist. The property is pet-friendly with approval, and in-unit washer/dryers are permitted. Maintenance includes heat, hot water, and property taxes; residents separately handle Con Edison, cable, and internet.
Key Highlights
- 2‑bedroom, 1‑bathroom unit with 950 square feet
- 1939 building with a recently renovated lobby and bathroom
- Windowed kitchen with stainless steel appliances and wood cabinetry
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
$21,853
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
6.45%
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%
$437,060
$437.1K
Cap Rate 7%
$312,186
$312.2K
Cap Rate 9%
$242,811
$242.8K
Market Conditions
NOI Build-Up for 950 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
$42.2K $44.40/SF
− Vacancy
−$2.4K −$2.58/SF
EGI
$39.7K $41.82/SF
− OpEx
−$17.9K −$18.82/SF
NOI
$21.9K $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%
$437,060
Cap Rate 7%
$312,186
Cap Rate 9%
$242,811
Alternative Uses
Best Use
Apartment 5plus
$312.2K
$273.2K – $364.2K
NOI $21,853 @ 7.0% cap · market cap 6.45%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$658.3K
$576.0K – $768.0K
NOI $46,080 @ 7.0% cap · market cap 13.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Pre-war residential unit with renovated interiors, building amenities, and convenient access to shopping, schools, parks, dining, and transit.
Where is this residential income property located?
The property is located at 3215 NETHERLAND Avenue 4E Bronx, NY.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: 2‑bedroom, 1‑bathroom unit with 950 square feet; 1939 building with a recently renovated lobby and bathroom; Windowed kitchen with stainless steel appliances and wood cabinetry
