Two-Bedroom Residential Income
For Sale
$329,000
555 Kappock Street 9J, Bronx, NY 10463
Updated apartment with generous proportions, extensive storage, and full-service building amenities.
Property Size850 SF
Price / SF$387.06
Days on Market99
Property Features for 555 Kappock Street 9J
General Information
Standard status
Active
Size
850 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
24 hour doorman
fitness center
community room
outdoor swimming pool
Building Details
Building Size
850 SF
Year Built
1966
Listing Agency:
Sothebys International Realty
Listed By:
Christopher Casey
(646) 265-2262
Source:
Carlinwright
Added: Jun 25
Changed: Sep 30
Last Checked: Sep 30 at 4:08PM
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 Sothebys International Realty
Investment Insights
Based on property information with market context.
This two-bedroom, two-bath residential income property offers a spacious apartment layout with 10-foot ceilings, oversized windows, and separate living and dining areas. The kitchen has updated finishes and ample cabinetry, while both bathrooms feature contemporary fixtures and finishes. Hardwood parquet flooring, large bedrooms, generous closet space, and additional storage contribute to the functional interior. The residence is presented as move-in ready and includes an all-inclusive monthly maintenance arrangement covering gas, electric, water, heat, taxes, cable, and internet.
The full-service building provides a 24-hour doorman, fitness center, community room, and outdoor swimming pool. Express and local bus service is located at the building, with Metro-North and the 1 train within walking distance. The property was built in 1966 and is located at 555 Kappock Street in the Bronx.
The full-service building provides a 24-hour doorman, fitness center, community room, and outdoor swimming pool. Express and local bus service is located at the building, with Metro-North and the 1 train within walking distance. The property was built in 1966 and is located at 555 Kappock Street in the Bronx.
Key Highlights
- Two‑bedroom, two‑bath apartment with 10‑foot ceilings
- All‑inclusive monthly maintenance covers gas, electric, water, heat, taxes, cable, and internet
- Updated kitchen and bathrooms with contemporary finishes
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
$19,553
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
5.94%
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%
$391,060
$391.1K
Cap Rate 7%
$279,329
$279.3K
Cap Rate 9%
$217,256
$217.3K
Market Conditions
NOI Build-Up for 850 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
$37.7K $44.40/SF
− Vacancy
−$2.2K −$2.58/SF
EGI
$35.6K $41.82/SF
− OpEx
−$16.0K −$18.82/SF
NOI
$19.6K $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%
$391,060
Cap Rate 7%
$279,329
Cap Rate 9%
$217,256
Alternative Uses
Best Use
Apartment 5plus
$279.3K
$244.4K – $325.9K
NOI $19,553 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$589.0K
$515.4K – $687.2K
NOI $41,229 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,060
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated apartment with generous proportions, extensive storage, and full-service building amenities.
Where is this residential income property located?
The property is located at 555 Kappock Street 9J Bronx, NY.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath apartment with 10‑foot ceilings; All‑inclusive monthly maintenance covers gas, electric, water, heat, taxes, cable, and internet; Updated kitchen and bathrooms with contemporary finishes
