Detached Triplex With Private
New
For Sale
$1,300,000
622 Mead St The, Bronx, NY 10460
Three separate apartments include updated building systems and garden-level outdoor access.
Property Size3,072 SF
Days on Market2
Property Features for 622 Mead St The
General Information
Standard status
Active
Size
3,072 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 4BR/2BA, 1 x 3BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,028
Amenities
private backyard
Building Details
Building Size
3,072 SF
Year Built
1915
Buildings
1
Units
3
Listing Agency:
Keller Williams Realty Group
(929) 217-0281
Listed By:
Theron N. Saunches
(929) 217-0281
Source:
Elliman
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 16 at 3:23AM
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 Keller Williams Realty Group
Investment Insights
Based on property information with market context.
This detached triplex contains three distinct apartments arranged across the upper, main entry, and garden levels. The upper residence offers 4 bedrooms and 2 bathrooms, while the main-level apartment provides the same bedroom and bathroom count. A separate garden-level unit includes 3 bedrooms, 1 bathroom, and direct access to the private backyard.
Building systems include three separate heating zones, tankless hot water systems, updated plumbing, and upgraded electrical panels. The property can be delivered vacant or with immediate cash flow, as stated in the property information.
The home is located near local parks and shopping centers, with nearby subway service and major highways supporting regional access. WalkScore, BikeScore, and TransitScore are reported as 91, 82, and 94, respectively.
Building systems include three separate heating zones, tankless hot water systems, updated plumbing, and upgraded electrical panels. The property can be delivered vacant or with immediate cash flow, as stated in the property information.
The home is located near local parks and shopping centers, with nearby subway service and major highways supporting regional access. WalkScore, BikeScore, and TransitScore are reported as 91, 82, and 94, respectively.
Key Highlights
- Detached 3‑family property with three separate apartments
- Upper‑level apartment includes 4 bedrooms and 2 bathrooms
- Main entry‑level apartment includes 4 bedrooms and 2 bathrooms
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
$78,034
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
6.00%
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%
$1,560,680
$1.6M
Cap Rate 7%
$1,114,771
$1.1M
Cap Rate 9%
$867,044
$867.0K
Market Conditions
NOI Build-Up for 3,072 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
$118.0K $38.40/SF
− Vacancy
−$6.5K −$2.11/SF
EGI
$111.5K $36.29/SF
− OpEx
−$33.4K −$10.89/SF
NOI
$78.0K $25.40/SF
Area
Bronx, NY
Vacancy
5.50%
Lease Rate
$38.40 /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%
$1,560,680
Cap Rate 7%
$1,114,771
Cap Rate 9%
$867,044
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$975.4K – $1.30M
NOI $78,034 @ 7.0% cap · market cap 6.00%
Second Best
Apartment 5plus
$1.01M
$883.3K – $1.18M
NOI $70,667 @ 7.0% cap · market cap 5.44%
Theoretical Best
Warehouse
$2.13M
$1.86M – $2.48M
NOI $149,008 @ 7.0% cap · market cap 11.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,048
Businesses Nearby
Explore this area
Business Placement
Demographics for 10460, NY
62,625
Population
24,085
Households
2.6
Avg Household Size
34
Median Age
15%
College-Educated
71%
High-School Grad
1.5 sq mi
ZIP Area
41,750
Density / Sq Mi
$36,067
Median Household Income
$31,283
Median Earnings
$1,332
Median Rent
$589,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three separate apartments include updated building systems and garden-level outdoor access.
Where is this triplex located?
The property is located at 622 Mead St The 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: Detached 3‑family property with three separate apartments; Upper‑level apartment includes 4 bedrooms and 2 bathrooms; Main entry‑level apartment includes 4 bedrooms and 2 bathrooms
