Two-Bedroom Residential
For Sale
$790,000
640 W 237TH Street 7D, Bronx, NY 10463
Corner condominium residence with luxury finishes, private outdoor space, storage, and full-service building amenities.
Property Size1,445 SF
Price / SF$546.71
Days on Market158
Property Features for 640 W 237TH Street 7D
General Information
Standard status
Active
Size
1,445 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Sprinkler System
Yes
Amenities
24 hour concierge
fitness center
lounge
playroom
rooftop deck
pet friendly
completely wheelchair accessible
in unit washer/dryer
central A/C
large balcony
storage units
Building Details
Building Size
1,445 SF
Year Built
2007
Listing Agency:
Brown Harris Stevens Riverdale LLC
(718) 878-1925
Listed By:
Deena Spindler
(718) 878-1925
Source:
Howardhannanyc
Added: Mar 11
Changed: Aug 15
Last Checked: Aug 15 at 5:29AM
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 Brown Harris Stevens Riverdale LLC
Investment Insights
Based on property information with market context.
Apartment 7D is a two-bedroom, two-bath condominium residence in a 2007-built, wheelchair-accessible building. The north- and east-facing home features ten-foot ceilings, floor-to-ceiling windows, hardwood flooring, central A/C, an in-unit washer and dryer, and a balcony adjoining the living room. The layout includes an entrance foyer, connected kitchen, living, and dining areas, plus two full bathrooms. The kitchen has cherry cabinetry, granite countertops, high-end appliances, and integrated storage. The primary suite includes dual sinks, radiant-heated marble flooring, a stall shower, and a soaking tub. Two basement storage units are included.
Building services and amenities include a 24-hour concierge, fitness center, lounge, playroom, rooftop deck, and in-unit sprinkler system. The pet-friendly property is near schools, parks, houses of worship, shopping, a library, and public transportation, including express buses to Manhattan and a jitney serving the Metro North train station.
Building services and amenities include a 24-hour concierge, fitness center, lounge, playroom, rooftop deck, and in-unit sprinkler system. The pet-friendly property is near schools, parks, houses of worship, shopping, a library, and public transportation, including express buses to Manhattan and a jitney serving the Metro North train station.
Key Highlights
- Two‑bedroom, two‑full‑bath condominium residence in a 2007‑built building
- Ten‑foot ceilings, floor‑to‑ceiling windows, hardwood flooring, and central A/C
- North- and east‑facing layout with living‑room balcony
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
$33,240
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
4.21%
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%
$664,800
$664.8K
Cap Rate 7%
$474,857
$474.9K
Cap Rate 9%
$369,333
$369.3K
Market Conditions
NOI Build-Up for 1,445 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
$64.2K $44.40/SF
− Vacancy
−$3.7K −$2.58/SF
EGI
$60.4K $41.82/SF
− OpEx
−$27.2K −$18.82/SF
NOI
$33.2K $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%
$664,800
Cap Rate 7%
$474,857
Cap Rate 9%
$369,333
Alternative Uses
Best Use
Apartment 5plus
$474.9K
$415.5K – $554.0K
NOI $33,240 @ 7.0% cap · market cap 4.21%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.00M
$876.1K – $1.17M
NOI $70,090 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
2,190
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 - Corner condominium residence with luxury finishes, private outdoor space, storage, and full-service building amenities.
Where is this residential income property located?
The property is located at 640 W 237TH Street 7D Bronx, NY.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Two‑bedroom, two‑full‑bath condominium residence in a 2007‑built building; Ten‑foot ceilings, floor‑to‑ceiling windows, hardwood flooring, and central A/C; North- and east‑facing layout with living‑room balcony
