Renovated Brick
New
For Sale
$1,179,000
775 E 216th Street, Bronx, NY 10467
Three residential units combine updated interiors, private parking, and flexible owner-user or rental configurations.
Property Size3,348 SF
Price / SF$352.15
Days on Market4
Property Features for 775 E 216th Street
General Information
Standard status
Active
Size
3,348 SF
Property subtype
Triplex
Units
Unit Mix
2 x 3BR, 1 x 2BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,121
Building Details
Building Size
3,348 SF
Year Built
1965
Buildings
1
Stories
3
Construction
brick
Listing Agency:
Keystone Realty USA Corp
Listed By:
Gabriel Kashi
(347) 419-5268
Source:
Shawmetro
Added: Sep 3
Changed: Sep 5
Last Checked: Sep 6 at 12:07PM
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 Keystone Realty USA Corp
Investment Insights
Based on property information with market context.
This three-story brick triplex contains 3,348 square feet and is arranged with two three-bedroom residences plus a two-bedroom garden unit. The homes feature open living and dining areas, granite kitchens with custom cabinetry and stainless steel appliances, tiled bathrooms, generous bedroom storage, and renovated finishes including wide-oak flooring, recessed lighting, doors, and moldings. Updated building systems include electrical, heating, plumbing, and split-unit central air conditioning.
The property includes a driveway and garage at 775 E 216th Street in the Bronx. Its location offers access to White Plains Road, Barnes Avenue, and Bronxwood Avenue, with schools, shopping centers, restaurants, cafes, and parks nearby. The three-unit layout supports a combination of residential occupancy and rental use.
The property includes a driveway and garage at 775 E 216th Street in the Bronx. Its location offers access to White Plains Road, Barnes Avenue, and Bronxwood Avenue, with schools, shopping centers, restaurants, cafes, and parks nearby. The three-unit layout supports a combination of residential occupancy and rental use.
Key Highlights
- 3,348‑square‑foot, three‑story brick triplex
- Two 3‑bedroom units plus one 2‑bedroom garden unit
- Driveway and garage 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
$81,515
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
6.91%
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%
$1,630,300
$1.6M
Cap Rate 7%
$1,164,500
$1.2M
Cap Rate 9%
$905,722
$905.7K
Market Conditions
NOI Build-Up for 3,348 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
$124.5K $37.20/SF
− Vacancy
−$8.1K −$2.42/SF
EGI
$116.5K $34.78/SF
− OpEx
−$34.9K −$10.43/SF
NOI
$81.5K $24.35/SF
Area
ZIP 10467
Vacancy
6.50%
Lease Rate
$37.20 /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%
$1,630,300
Cap Rate 7%
$1,164,500
Cap Rate 9%
$905,722
Alternative Uses
Best Use
Multifamily LT 5
$1.16M
$1.02M – $1.36M
NOI $81,515 @ 7.0% cap · market cap 6.91%
Second Best
Apartment 5plus
$1.04M
$910.7K – $1.21M
NOI $72,853 @ 7.0% cap · market cap 6.18%
Theoretical Best
Warehouse
$2.32M
$2.03M – $2.71M
NOI $162,395 @ 7.0% cap · market cap 13.77%
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
2,185
Businesses Nearby
Explore this area
Business Placement
Demographics for 10467, NY
103,660
Population
40,582
Households
2.6
Avg Household Size
36
Median Age
22%
College-Educated
75%
High-School Grad
2.3 sq mi
ZIP Area
45,070
Density / Sq Mi
$47,806
Median Household Income
$36,949
Median Earnings
$1,505
Median Rent
$425,500
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 residential units combine updated interiors, private parking, and flexible owner-user or rental configurations.
Where is this triplex located?
The property is located at 775 E 216th Street Bronx, NY.
What is the asking price?
The asking price for this property is $1,179,000.
What are key features of this property?
This property features: 3,348‑square‑foot, three‑story brick triplex; Two 3‑bedroom units plus one 2‑bedroom garden unit; Driveway and garage included
