Legal Three-Family Brick
For Sale
$1,400,000
757 Elton Avenue, Bronx, NY 10451
MULTI_FAMILY - Bronx, NY
Property Size3,036 SF
Lot Size0.05 Acres
Price / SF$461.13
Days on Market69
Property Features for 757 Elton Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Basement, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 4, Bathroom 4, Bedroom 6, Bedroom 1, Bedroom 5, Bathroom 1
Parking
2
Parking features
Off Street, Assigned
Interior features
Entrance Foyer, Open Kitchen
Basement
Finished
Elementary school
Ps/Ms 29 Melrose School
Middle school
Academy Of Applied Math And Tech
High school
Bronx Haven High School
Elementary school district
Bronx 7
Middle school district
Bronx 7
High school district
Bronx 7
Standard status
Active
APN
02378-0129
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6972
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1999
Number of units
3
Building materials
Brick
Listing Agency:
HomeSmart Homes & Estates · HomeSmart International
(914) 236-5500
Listed By:
Pasquale Castaldo
(347) 236-8277
Added: Jun 8
Changed: Aug 3
Last Checked: Aug 15 at 2:06PM
MLS# 1011518
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Legal three-family, three-story brick home at 757 Elton Avenue in the Melrose section of the South Bronx. Built in 1999, the property includes three separate apartments with a total of approximately 3,036 square feet of living space. The unit mix features a 3-bedroom, 2-bath apartment, a 2-bedroom, 1-bath apartment, and a 1-bedroom, 1-bath apartment. Interior features include an entrance foyer and an open kitchen.
The home is served by public water and public sewer. Heating is provided by baseboard systems, with window and wall/window unit(s) for cooling. Parking is available off street with assigned parking.
This configuration supports occupancy by an owner-occupant while also providing rental flexibility across the three apartments.
The home is served by public water and public sewer. Heating is provided by baseboard systems, with window and wall/window unit(s) for cooling. Parking is available off street with assigned parking.
This configuration supports occupancy by an owner-occupant while also providing rental flexibility across the three apartments.
Key Highlights
- Legal three‑family, three‑story brick home built in 1999
- Three separate apartments: 3BR/2BA, 2BR/1BA, and 1BR/1BA
- Approximately 3,036 SF of living space
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
$77,119
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
5.51%
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%
$1,542,380
$1.5M
Cap Rate 7%
$1,101,700
$1.1M
Cap Rate 9%
$856,878
$856.9K
Market Conditions
NOI Build-Up for 3,036 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
$116.6K $38.40/SF
− Vacancy
−$6.4K −$2.11/SF
EGI
$110.2K $36.29/SF
− OpEx
−$33.1K −$10.89/SF
NOI
$77.1K $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%
$1,542,380
Cap Rate 7%
$1,101,700
Cap Rate 9%
$856,878
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$964.0K – $1.29M
NOI $77,119 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$997.7K
$873.0K – $1.16M
NOI $69,839 @ 7.0% cap · market cap 4.99%
Theoretical Best
Warehouse
$2.10M
$1.84M – $2.45M
NOI $147,261 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,329
Businesses Nearby
Explore this area
Business Placement
Demographics for 10451, NY
51,536
Population
21,850
Households
2.4
Avg Household Size
36
Median Age
21%
College-Educated
74%
High-School Grad
1.1 sq mi
ZIP Area
46,851
Density / Sq Mi
$37,111
Median Household Income
$35,765
Median Earnings
$1,269
Median Rent
$263,500
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?
Triplex - Legal three-family brick home built in 1999 with three separate units and off-street assigned parking.
Where is this triplex located?
The property is located at 757 Elton Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Legal three‑family, three‑story brick home built in 1999; Three separate apartments: 3BR/2BA, 2BR/1BA, and 1BR/1BA; Approximately 3,036 SF of living space
