Victorian Residential Income
For Sale
$1,300,000
Pending
4309 Vireo Avenue, Bronx, NY 10470
1910-built property with garage, driveway, balcony, garden, and storage space.
Property Size3,362 SF
Days on Market32
Property Features for 4309 Vireo Avenue
General Information
Standard status
Pending
Size
3,362 SF
Total Parking Spaces
6
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$9,717
Amenities
Oil
Full, Storage Space, Unfinished
Built-in Features, Cathedral Ceiling(s), Ceiling Fan(s), Crown Molding, Eat-in Kitchen, Entrance Foyer, High Ceilings, Natural Woodwork, Pantry, Soaking Tub, Stone Counters, Storage
Decorative
Driveway, Garage, On Street
Balcony, Garden
Victorian
Building Details
Building Size
3,362 SF
Year Built
1910
Listing Agency:
Coldwell Banker Residential Brokerage
(914) 582-2369
Listed By:
Luciana DiGiacomo
(914) 582-2369
Source:
Evrealestate
Added: Jul 16
Changed: Aug 15
Last Checked: Aug 15 at 4:41AM
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 Coldwell Banker Residential Brokerage
Investment Insights
Based on property information with market context.
Built in 1910, this residential income property features Victorian exterior character and a range of interior details, including cathedral ceilings, high ceilings, crown molding, natural woodwork, decorative elements, and an eat-in kitchen. Additional interior features include a pantry, stone counters, a soaking tub, storage, and unfinished space.
The property includes a garage, driveway, and on-street parking, along with a balcony and garden. It is located at the corner of 237th Street and Vireo Avenue, with Martha as the cross street, in Bronx County, New York.
The property includes a garage, driveway, and on-street parking, along with a balcony and garden. It is located at the corner of 237th Street and Vireo Avenue, with Martha as the cross street, in Bronx County, New York.
Key Highlights
- Built in 1910
- Victorian exterior
- Garage, driveway, and on‑street parking
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
$77,338
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
5.95%
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%
$1,546,760
$1.5M
Cap Rate 7%
$1,104,829
$1.1M
Cap Rate 9%
$859,311
$859.3K
Market Conditions
NOI Build-Up for 3,362 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
$149.3K $44.40/SF
− Vacancy
−$8.7K −$2.58/SF
EGI
$140.6K $41.82/SF
− OpEx
−$63.3K −$18.82/SF
NOI
$77.3K $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%
$1,546,760
Cap Rate 7%
$1,104,829
Cap Rate 9%
$859,311
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$966.7K – $1.29M
NOI $77,338 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.33M
$2.04M – $2.72M
NOI $163,074 @ 7.0% cap · market cap 12.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,662
Businesses Nearby
Explore this area
Business Placement
Demographics for 10470, NY
16,686
Population
6,869
Households
2.4
Avg Household Size
38
Median Age
41%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
11,919
Density / Sq Mi
$81,134
Median Household Income
$54,227
Median Earnings
$1,656
Median Rent
$500,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - 1910-built property with garage, driveway, balcony, garden, and storage space.
Where is this residential income property located?
The property is located at 4309 Vireo Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Built in 1910; Victorian exterior; Garage, driveway, and on‑street parking
