Renovated Four-Family Home in
For Sale
$2,299,000
48 Parkway Rd, Bronxville, NY 10708
Fully renovated four-family home near Bronxville Village shops and restaurants.
Property Size3,634 SF
Lot Size0.05 Acres
Days on Market265
Property Features for 48 Parkway Rd
General Information
Standard status
Active
Size
3,634 SF
Lot size
0.05 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$26,900
Amenities
Parking - Garage
Parking - Detached
Lot - Near Public Transit
Lot - Level
Heating - Natural Gas
Lot - Near School
Parking - Driveway
Insulated Windows
Patio
Style - Victorian
Association - Park
Community - Park
Construction - Frame
Construction - Stucco
Cooling - Wall/window unit(s)
Hardwood
Heating - Hot Water
Building Details
Building Size
3,634 SF
Year Built
1900
Units
4
Listing Agency:
(914) 337-0210
Listed By:
Antonella Cioffoletti
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 17
Last Checked: Aug 20 at 7:25AM
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 Antonella Cioffoletti
Investment Insights
Based on property information with market context.
This is a fully renovated four-family home located in Bronxville Village. The property contains one three-bedroom, one-bath unit; one two-bedroom, one-bath unit; one two-bedroom, two-bath unit; and one one-bedroom, one-bath unit with a fireplace. Each unit includes a washer and dryer. The kitchens feature granite counters and stainless steel appliances. The property has new bathrooms, electric, plumbing, windows, floors, and doors. Parking includes a 2 1/2-car garage with loft storage and driveway parking for five cars. The property is located near shops and restaurants in downtown Bronxville, as well as the Bronx River Trails and Metro North. The property has four separate furnaces.
Key Highlights
- Fully renovated LEGAL 4‑family home in Bronxville Village.
- Four separate furnaces and in‑unit washer/dryers.
- All new kitchens with granite counters and stainless steel appliances; all new baths, electric, plumbing, windows, floors, and doors.
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
$87,934
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
3.82%
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%
$1,758,680
$1.8M
Cap Rate 7%
$1,256,200
$1.3M
Cap Rate 9%
$977,044
$977.0K
Market Conditions
NOI Build-Up for 3,634 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
$137.4K $37.80/SF
− Vacancy
−$11.7K −$3.23/SF
EGI
$125.6K $34.57/SF
− OpEx
−$37.7K −$10.37/SF
NOI
$87.9K $24.20/SF
Area
Yonkers, NY
Vacancy
8.55%
Lease Rate
$37.80 /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%
$1,758,680
Cap Rate 7%
$1,256,200
Cap Rate 9%
$977,044
Alternative Uses
Best Use
Multifamily LT 5
$1.26M
$1.10M – $1.47M
NOI $87,934 @ 7.0% cap · market cap 3.82%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.35M
NOI $80,755 @ 7.0% cap · market cap 3.51%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,631
Businesses Nearby
Explore this area
Business Placement
Demographics for 10708, NY
22,299
Population
10,004
Households
2.2
Avg Household Size
45
Median Age
65%
College-Educated
95%
High-School Grad
2.9 sq mi
ZIP Area
7,689
Density / Sq Mi
$121,107
Median Household Income
$80,556
Median Earnings
$2,161
Median Rent
$496,800
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?
Quadplex - Fully renovated four-family home near Bronxville Village shops and restaurants.
Where is this quadplex located?
The property is located at 48 Parkway Rd Bronxville, NY.
What is the asking price?
The asking price for this property is $2,299,000.
What are key features of this property?
This property features: Fully renovated LEGAL 4‑family home in Bronxville Village.; Four separate furnaces and in‑unit washer/dryers.; All new kitchens with granite counters and stainless steel appliances; all new baths, electric, plumbing, windows, floors, and doors.
