Multifamily Property with
For Sale
$1,399,000
Pending
3243 Tenbroeck Avenue, Bronx, NY 10469
Residential income property with storage, fenced outdoor areas, and a walk-out lower level.
Property Size3,000 SF
Days on Market157
Property Features for 3243 Tenbroeck Avenue
General Information
Standard status
Pending
Size
3,000 SF
Total Parking Spaces
6
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$7,357
Amenities
Wall/Window Unit(s)
ENERGY STAR Qualified Equipment, Hot Water, Natural Gas
Partially Finished, Storage Space, Walk-Out Access
Eat-in Kitchen
Fenced
Driveway, Garage, Storage
Mid-Century Modern
Building Details
Building Size
3,000 SF
Year Built
1925
Listing Agency:
The Greene Realty Group
Listed By:
Derek J. Greene · License #MA9503235-RE-B
(888) 278-5840
Source:
Evrealestate
Added: Apr 1
Changed: Sep 2
Last Checked: Sep 4 at 3:08AM
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 The Greene Realty Group
Investment Insights
Based on property information with market context.
This multifamily property, built in 1925, includes an eat-in kitchen, storage space, and a partially finished lower level with walk-out access. Interior features also include wall/window unit(s) and ENERGY STAR Qualified Equipment, Hot Water, Natural Gas.
The exterior provides a fenced setting with a driveway, garage, and additional storage. Mid-Century Modern elements are noted among the property features.
The property is situated between Gun Hill Road and Burke Avenue in Williamsbridge, within Bronx County.
The exterior provides a fenced setting with a driveway, garage, and additional storage. Mid-Century Modern elements are noted among the property features.
The property is situated between Gun Hill Road and Burke Avenue in Williamsbridge, within Bronx County.
Key Highlights
- Multifamily property constructed in 1925
- Garage, driveway, fenced exterior, and storage space
- Partially finished lower level with walk‑out access
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
$69,011
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
4.93%
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%
$1,380,220
$1.4M
Cap Rate 7%
$985,871
$985.9K
Cap Rate 9%
$766,789
$766.8K
Market Conditions
NOI Build-Up for 3,000 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
$133.2K $44.40/SF
− Vacancy
−$7.7K −$2.58/SF
EGI
$125.5K $41.82/SF
− OpEx
−$56.5K −$18.82/SF
NOI
$69.0K $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%
$1,380,220
Cap Rate 7%
$985,871
Cap Rate 9%
$766,789
Alternative Uses
Best Use
Apartment 5plus
$985.9K
$862.6K – $1.15M
NOI $69,011 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.08M
$1.82M – $2.43M
NOI $145,515 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,561
Businesses Nearby
Explore this area
Business Placement
Demographics for 10469, NY
71,571
Population
25,082
Households
2.9
Avg Household Size
39
Median Age
29%
College-Educated
83%
High-School Grad
2.4 sq mi
ZIP Area
29,821
Density / Sq Mi
$76,018
Median Household Income
$45,857
Median Earnings
$1,653
Median Rent
$640,400
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?
Residential income property - Residential income property with storage, fenced outdoor areas, and a walk-out lower level.
Where is this residential income property located?
The property is located at 3243 Tenbroeck Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Multifamily property constructed in 1925; Garage, driveway, fenced exterior, and storage space; Partially finished lower level with walk‑out access
