4-Unit Multifamily
For Sale
$1,450,000
719 E 242nd Street, Bronx, NY 10470
Three two-bedroom apartments and one one-bedroom apartment create a defined four-unit residential configuration.
Property Size3,460 SF
Price / SF$419.08
Days on Market13
Property Features for 719 E 242nd Street
General Information
Standard status
Active
Size
3,460 SF
Property subtype
Quadruplex
Units
Unit Mix
3 x 2BR, 1 x 1BR
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$15,903
Building Details
Building Size
3,460 SF
Year Built
1931
Buildings
1
Listing Agency:
Keller Williams Realty Group
Listed By:
Michael A. Brown · License #02065385
(718) 541-6149
Source:
Shawmetro
Added: Sep 7
Changed: Sep 11
Last Checked: Sep 18 at 1:44PM
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 4-unit multifamily property, built in 1931, includes three 2-bedroom apartments and one 1-bedroom apartment. The property also includes a basement unit and has 1 vacant unit available for a new tenancy or owner-occupant use.
Located at 719 E 242nd Street in the Bronx, the property sits near the Mount Vernon line and within walking distance of the 2/5 subway lines. The existing four-unit arrangement, varied apartment mix, and vacant unit provide a straightforward residential income configuration for an investor or owner-occupant.
Located at 719 E 242nd Street in the Bronx, the property sits near the Mount Vernon line and within walking distance of the 2/5 subway lines. The existing four-unit arrangement, varied apartment mix, and vacant unit provide a straightforward residential income configuration for an investor or owner-occupant.
Key Highlights
- Four‑unit property with three 2‑bedroom apartments and one 1‑bedroom apartment
- 1 vacant unit available for new tenancy or owner‑occupant use
- Additional basement unit included
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
$87,890
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
6.06%
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%
$1,757,800
$1.8M
Cap Rate 7%
$1,255,571
$1.3M
Cap Rate 9%
$976,556
$976.6K
Market Conditions
NOI Build-Up for 3,460 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
$132.9K $38.40/SF
− Vacancy
−$7.3K −$2.11/SF
EGI
$125.6K $36.29/SF
− OpEx
−$37.7K −$10.89/SF
NOI
$87.9K $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%
$1,757,800
Cap Rate 7%
$1,255,571
Cap Rate 9%
$976,556
Alternative Uses
Best Use
Multifamily LT 5
$1.26M
$1.10M – $1.46M
NOI $87,890 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$1.14M
$994.9K – $1.33M
NOI $79,593 @ 7.0% cap · market cap 5.49%
Theoretical Best
Warehouse
$2.40M
$2.10M – $2.80M
NOI $167,828 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,353
Businesses Nearby
Explore this area
Business Placement
Demographics for 10470, NY
16,686
Population
6,869
Households
2.4
Avg Household Size
38
Median Age
41%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
11,919
Density / Sq Mi
$81,134
Median Household Income
$54,227
Median Earnings
$1,656
Median Rent
$500,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Quadplex - Three two-bedroom apartments and one one-bedroom apartment create a defined four-unit residential configuration.
Where is this quadplex located?
The property is located at 719 E 242nd Street Bronx, NY.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Four‑unit property with three 2‑bedroom apartments and one 1‑bedroom apartment; 1 vacant unit available for new tenancy or owner‑occupant use; Additional basement unit included
