Three-Family Brick
For Sale
$1,400,000
757 Elton Ave The, Bronx, NY 10451
Three-story legal three-family home with three separate units, offering flexible living and income potential.
Property Size3,036 SF
Lot Size0.05 Acres
Price / SF$461.13
Days on Market60
Property Features for 757 Elton Ave The
General Information
Standard status
Active
Size
3,036 SF
Lot size
0.05 Acres
Property subtype
Investment
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,971
Building Details
Building Size
3,036 SF
Year Built
1999
Stories
3
Units
3
Listing Agency:
HomeSmart Homes and Estates
(347) 236-8277
Listed By:
Pasquale Castaldo
(347) 236-8277
Source:
Elliman
Added: Jun 16
Changed: Aug 8
Last Checked: Aug 13 at 9:53AM
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 HomeSmart Homes and Estates
Investment Insights
Based on property information with market context.
757 Elton Ave is a well-maintained, three-story brick multi-family residence built in 1999. The property is a legal three-family setup with three separate apartments, totaling approximately 3,036 square feet of living space. The unit mix includes a spacious 3-bedroom, 2-bath apartment, a 2-bedroom, 1-bath apartment, and a 1-bedroom, 1-bath apartment.
Set on a 2,200 square foot lot, the home is located in Melrose, South Bronx. WalkScore is listed at 97 and transitScore at 100, with bikeScore at 79, indicating strong access to daily amenities and public transportation options.
This configuration can work well for an owner-occupant seeking additional rental income, or for investors looking for a legal three-family property with a diverse unit mix across one-, two-, and three-bedroom layouts. The three separate apartments provide straightforward household flexibility and a practical path to manage multiple living arrangements within a single building.
Set on a 2,200 square foot lot, the home is located in Melrose, South Bronx. WalkScore is listed at 97 and transitScore at 100, with bikeScore at 79, indicating strong access to daily amenities and public transportation options.
This configuration can work well for an owner-occupant seeking additional rental income, or for investors looking for a legal three-family property with a diverse unit mix across one-, two-, and three-bedroom layouts. The three separate apartments provide straightforward household flexibility and a practical path to manage multiple living arrangements within a single building.
Key Highlights
- Legal three‑family brick home built in 1999 in Melrose (South Bronx)
- Approximately 3,036 SF across three separate apartments on a 2,200 SF lot
- Unit mix includes 1x 3‑bedroom/2‑bath, 1x 2‑bedroom/1‑bath, and 1x 1‑bedroom/1‑bath
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
3
Residential units
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 - Three-story legal three-family home with three separate units, offering flexible living and income potential.
Where is this triplex located?
The property is located at 757 Elton Ave The 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 brick home built in 1999 in Melrose (South Bronx); Approximately 3,036 SF across three separate apartments on a 2,200 SF lot; Unit mix includes 1x 3‑bedroom/2‑bath, 1x 2‑bedroom/1‑bath, and 1x 1‑bedroom/1‑bath
