Residential Income Property with
For Sale
$649,000
460 W 236TH Street 2B, Bronx, NY 10463
Two-bedroom condominium with abundant natural light, updated hardwood flooring, and full-service building amenities.
Property Size1,028 SF
Price / SF$631.32
Days on Market77
Property Features for 460 W 236TH Street 2B
General Information
Standard status
Active
Size
1,028 SF
Elevators
Yes
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
gym
playroom
package room
virtual doorman
live-in super
roof decks
grills
lounge chairs
picnic tables
indoor parking
outdoor parking
fios internet
pet-friendly
in-unit washer/dryer
Building Details
Building Size
1,028 SF
Year Built
2005
Listing Agency:
Corcoran Group
(347) 843-2887
Listed By:
Jillian S Faulls · License #30FA0954910 (NY)
(347) 843-2887
Source:
Howardhannanyc
Added: Jun 2
Changed: Aug 16
Last Checked: Aug 16 at 2:59AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
This 1,028-square-foot condominium offers two bedrooms and two bathrooms within a 53-residence boutique building completed in 2005. The corner home features floor-to-ceiling windows, new blond hardwood flooring, a large kitchen island, generous closet storage, an in-unit washer and dryer, and heating and cooling in every room. The primary bathroom includes radiant flooring and a rain shower, while concrete sub-flooring supports sound control. Heat and hot water are included in maintenance.
Building amenities include a gym, playroom, package room, virtual doorman, live-in superintendent, elevator, and roof decks with grills, lounge seating, and picnic tables. Indoor and outdoor parking are available, with indoor parking sold separately. The property is near the 1 train, BxM1 and BxM2 express buses, and the Hudson Rail Link to Metro-North. The Upper West Side is approximately a 15-minute drive away.
Building amenities include a gym, playroom, package room, virtual doorman, live-in superintendent, elevator, and roof decks with grills, lounge seating, and picnic tables. Indoor and outdoor parking are available, with indoor parking sold separately. The property is near the 1 train, BxM1 and BxM2 express buses, and the Hudson Rail Link to Metro-North. The Upper West Side is approximately a 15-minute drive away.
Key Highlights
- 1,028 SF corner condominium with 2 bedrooms and 2 bathrooms
- Boutique building with 53 residences, completed in 2005
- Floor‑to‑ceiling windows, new blond hardwood floors, and large kitchen island
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
$23,648
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
3.64%
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%
$472,960
$473.0K
Cap Rate 7%
$337,829
$337.8K
Cap Rate 9%
$262,756
$262.8K
Market Conditions
NOI Build-Up for 1,028 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
$45.6K $44.40/SF
− Vacancy
−$2.6K −$2.58/SF
EGI
$43.0K $41.82/SF
− OpEx
−$19.3K −$18.82/SF
NOI
$23.6K $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%
$472,960
Cap Rate 7%
$337,829
Cap Rate 9%
$262,756
Alternative Uses
Best Use
Apartment 5plus
$337.8K
$295.6K – $394.1K
NOI $23,648 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$712.3K
$623.3K – $831.1K
NOI $49,863 @ 7.0% cap · market cap 7.68%
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
3,081
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with abundant natural light, updated hardwood flooring, and full-service building amenities.
Where is this residential income property located?
The property is located at 460 W 236TH Street 2B Bronx, NY.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 1,028 SF corner condominium with 2 bedrooms and 2 bathrooms; Boutique building with 53 residences, completed in 2005; Floor‑to‑ceiling windows, new blond hardwood floors, and large kitchen island
