Renovated Residential Income
For Sale
$349,900
Pending
3299 CAMBRIDGE Avenue 3E, Bronx, NY 10463
Top-floor residence with an open kitchen, updated baths, hardwood floors, and extensive window frontage.
Property Size1,000 SF
Days on Market178
Property Features for 3299 CAMBRIDGE Avenue 3E
General Information
Standard status
Pending
Size
1,000 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
HOA Fee
$271.25
Amenities
part-time doorman
live-in superintendent
playground & outdoor space
landscaped garden
laundry facilities
bike room
private storage
Building Details
Building Size
1,000 SF
Year Built
1954
Listing Agency:
Brown Harris Stevens Residential Sales LLC
Listed By:
Andrew J Kramer
(212) 317-3634
Source:
Carlinwright
Added: Mar 13
Changed: Sep 3
Last Checked: Sep 5 at 6:21AM
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 Residential Sales LLC
Investment Insights
Based on property information with market context.
Apartment 8L is a renovated top-floor residence at Trafalgar House with two bedrooms, two full bathrooms, and an open-concept kitchen. Custom cabinetry, premium finishes, contemporary appliances, and hardwood flooring create a cohesive interior, while extensive window frontage brings natural light throughout the layout. Both bedrooms are generously sized, and the updated bathrooms feature modern fixtures and finishes.
Building amenities include a part-time doorman, live-in superintendent, landscaped garden, playground, outdoor space, double elevators, laundry facilities, bike room, private storage, and an indoor garage with a waitlist. The property is located at 3299 CAMBRIDGE Avenue 8L in Bronx, NY 10463. Trafalgar House was built in 1954.
Building amenities include a part-time doorman, live-in superintendent, landscaped garden, playground, outdoor space, double elevators, laundry facilities, bike room, private storage, and an indoor garage with a waitlist. The property is located at 3299 CAMBRIDGE Avenue 8L in Bronx, NY 10463. Trafalgar House was built in 1954.
Key Highlights
- Two‑bedroom, two‑bath top‑floor residence at Trafalgar House
- Renovated open‑concept kitchen with custom cabinetry and contemporary appliances
- Extensive window frontage and hardwood floors throughout
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
$23,004
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
6.57%
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%
$460,080
$460.1K
Cap Rate 7%
$328,629
$328.6K
Cap Rate 9%
$255,600
$255.6K
Market Conditions
NOI Build-Up for 1,000 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
$44.4K $44.40/SF
− Vacancy
−$2.6K −$2.58/SF
EGI
$41.8K $41.82/SF
− OpEx
−$18.8K −$18.82/SF
NOI
$23.0K $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%
$460,080
Cap Rate 7%
$328,629
Cap Rate 9%
$255,600
Alternative Uses
Best Use
Apartment 5plus
$328.6K
$287.6K – $383.4K
NOI $23,004 @ 7.0% cap · market cap 6.57%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$692.9K
$606.3K – $808.4K
NOI $48,505 @ 7.0% cap · market cap 13.86%
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
3,125
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 - Top-floor residence with an open kitchen, updated baths, hardwood floors, and extensive window frontage.
Where is this residential income property located?
The property is located at 3299 CAMBRIDGE Avenue 3E Bronx, NY.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two‑bedroom, two‑bath top‑floor residence at Trafalgar House; Renovated open‑concept kitchen with custom cabinetry and contemporary appliances; Extensive window frontage and hardwood floors throughout
