3-Unit Multifamily
For Sale
$899,000
Pending
3650 Waldo Avenue, Bronx, NY 10463
Three residential units offer separate living spaces, kitchens, bedrooms, and baths.
Property Size2,816 SF
Days on Market483
Property Features for 3650 Waldo Avenue
General Information
Standard status
Pending
Size
2,816 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$11,215
Building Details
Building Size
2,816 SF
Year Built
1962
Listing Agency:
YourHomeSold Guaranteed Realty
Listed By:
Abel Brea · License #10401369967
Source:
Shawmetro
Added: Apr 21, 2025
Changed: Aug 8
Last Checked: Aug 15 at 11:49AM
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 YourHomeSold Guaranteed Realty
Investment Insights
Based on property information with market context.
This 2,816-square-foot multifamily property includes three distinct residential units with separate living spaces, kitchens, bedrooms, and baths. One unit is identified as a 1-bedroom unit, while another is described as a 3-bedroom, 2-bath unit. The property also includes on-site storage and five dedicated parking spots.
Situated on a 7,038-square-foot lot at 3650 Waldo Avenue in the Bronx, NY 10463, the property was built in 1962. It is described as being near parks, schools, major highways, and public transportation. The property will be delivered vacant, providing flexibility for occupancy and management from closing.
Situated on a 7,038-square-foot lot at 3650 Waldo Avenue in the Bronx, NY 10463, the property was built in 1962. It is described as being near parks, schools, major highways, and public transportation. The property will be delivered vacant, providing flexibility for occupancy and management from closing.
Key Highlights
- Three distinct residential units
- 2,816 square feet of multifamily property
- 7,038‑square‑foot lot
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
$71,531
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
7.96%
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%
$1,430,620
$1.4M
Cap Rate 7%
$1,021,871
$1.0M
Cap Rate 9%
$794,789
$794.8K
Market Conditions
NOI Build-Up for 2,816 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
$108.1K $38.40/SF
− Vacancy
−$5.9K −$2.11/SF
EGI
$102.2K $36.29/SF
− OpEx
−$30.7K −$10.89/SF
NOI
$71.5K $25.40/SF
Area
Bronx, NY
Vacancy
5.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,430,620
Cap Rate 7%
$1,021,871
Cap Rate 9%
$794,789
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$894.1K – $1.19M
NOI $71,531 @ 7.0% cap · market cap 7.96%
Second Best
Apartment 5plus
$925.4K
$809.7K – $1.08M
NOI $64,778 @ 7.0% cap · market cap 7.21%
Theoretical Best
Warehouse
$1.95M
$1.71M – $2.28M
NOI $136,590 @ 7.0% cap · market cap 15.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,081
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units offer separate living spaces, kitchens, bedrooms, and baths.
Where is this triplex located?
The property is located at 3650 Waldo Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Three distinct residential units; 2,816 square feet of multifamily property; 7,038‑square‑foot lot
