Residential Income Property with
For Sale
$499,500
3935 BLACKSTONE Avenue 3C, Bronx, NY 10471
Two-bedroom corner residence with wooded views, full-service co-op amenities, and convenient access to regional transportation.
Property Size1,200 SF
Price / SF$416.25
Days on Market116
Property Features for 3935 BLACKSTONE Avenue 3C
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
HOA Fee
$1,949
Multifamily Units
1
Amenities
24-hour doorman
full-time resident manager
porter staff
fitness room
laundry room
storage
bike room
playground
landscaped gardens
indoor garage
outdoor parking lots
Building Details
Building Size
1,200 SF
Year Built
1960
Listing Agency:
Brown Harris Stevens Riverdale LLC
(718) 878-1703
Listed By:
Nanette Gran
(718) 878-1703
Source:
Howardhannanyc
Added: Apr 22
Changed: Aug 14
Last Checked: Aug 15 at 12:04PM
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 1,200-square-foot corner residence features two bedrooms, two full bathrooms, eastern and northern exposures, and a private balcony overlooking wooded surroundings. The interior includes an entry foyer, dining area, kitchen with counter seating, generous closet storage, and parquet wood flooring. Both bedrooms are notably large, with potential for a third bedroom.
The residence is located in The Woodlands, a full-service co-op building with a 24-hour doorman, full-time resident manager, porter staff, fitness room, laundry room, storage, bike room, playground, landscaped gardens, indoor garage, and two outdoor parking lots subject to availability. Pets are welcome.
The property is near shops, restaurants, and neighborhood amenities. The Metro-North Rail Link is outside the entrance, while express buses to Manhattan and local buses serving the 1 and A trains are nearby. The Henry Hudson Parkway and New York State Thruway are also accessible. The building was constructed in 1960.
The residence is located in The Woodlands, a full-service co-op building with a 24-hour doorman, full-time resident manager, porter staff, fitness room, laundry room, storage, bike room, playground, landscaped gardens, indoor garage, and two outdoor parking lots subject to availability. Pets are welcome.
The property is near shops, restaurants, and neighborhood amenities. The Metro-North Rail Link is outside the entrance, while express buses to Manhattan and local buses serving the 1 and A trains are nearby. The Henry Hudson Parkway and New York State Thruway are also accessible. The building was constructed in 1960.
Key Highlights
- 1,200 SF two‑bedroom, two‑bathroom corner residence
- Private balcony with eastern and northern exposures and wooded views
- Large bedrooms with potential to create a third bedroom
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
$27,604
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
5.53%
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%
$552,080
$552.1K
Cap Rate 7%
$394,343
$394.3K
Cap Rate 9%
$306,711
$306.7K
Market Conditions
NOI Build-Up for 1,200 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
$53.3K $44.40/SF
− Vacancy
−$3.1K −$2.58/SF
EGI
$50.2K $41.82/SF
− OpEx
−$22.6K −$18.82/SF
NOI
$27.6K $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%
$552,080
Cap Rate 7%
$394,343
Cap Rate 9%
$306,711
Alternative Uses
Best Use
Apartment 5plus
$394.3K
$345.1K – $460.1K
NOI $27,604 @ 7.0% cap · market cap 5.53%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$831.5K
$727.6K – $970.1K
NOI $58,206 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,633
Businesses Nearby
Explore this area
Business Placement
Demographics for 10471, NY
25,121
Population
9,453
Households
2.7
Avg Household Size
44
Median Age
58%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
14,777
Density / Sq Mi
$108,738
Median Household Income
$65,261
Median Earnings
$1,729
Median Rent
$406,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom corner residence with wooded views, full-service co-op amenities, and convenient access to regional transportation.
Where is this residential income property located?
The property is located at 3935 BLACKSTONE Avenue 3C Bronx, NY.
What is the asking price?
The asking price for this property is $499,500.
What are key features of this property?
This property features: 1,200 SF two‑bedroom, two‑bathroom corner residence; Private balcony with eastern and northern exposures and wooded views; Large bedrooms with potential to create a third bedroom
