Renovated Brick
New
For Sale
$1,179,000
775 E 216th St The, Bronx, NY 10467
Three residential units feature updated interiors, private parking, and a garage in a walkable Bronx setting.
Property Size3,348 SF
Price / SF$351.94
Days on Market3
Property Features for 775 E 216th St The
General Information
Standard status
Active
Size
3,348 SF
Property subtype
Investment
Units
Unit Mix
2 x 3BR, 1 x 2BR
Multifamily Units
3
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$7,121
Building Details
Building Size
3,348 SF
Year Built
1965
Buildings
1
Stories
3
Units
2
Construction
brick
Listing Agency:
Keystone Realty USA
Listed By:
Gabriel Kashi
(347) 419-5268
Source:
Elliman
Added: Sep 4
Last Checked: Sep 6 at 6:50AM
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
Investment Insights
Based on property information with market context.
This three-story brick triplex was built in 1965 and contains 3,350 square feet of living space within a 23-by-48-foot structure. The unit mix includes two three-bedroom residences and a two-bedroom garden unit. Interior improvements include wide oak flooring, recessed lighting, custom doors and moldings, granite kitchens with stainless steel appliances, tiled bathrooms, and open living and dining areas. Electrical, heating, and plumbing systems have been updated, with energy-efficient split-system central air conditioning throughout. The property also includes a driveway and garage.
Located at 775 E 216th St in The Bronx, the property sits near White Plains Road, Barnes Avenue, and Bronxwood Avenue. Schools, shopping centers, restaurants, cafes, and parks are within short blocks. Transportation metrics include a Walk Score of 83, a Transit Score of 82, and a Bike Score of 74.
Located at 775 E 216th St in The Bronx, the property sits near White Plains Road, Barnes Avenue, and Bronxwood Avenue. Schools, shopping centers, restaurants, cafes, and parks are within short blocks. Transportation metrics include a Walk Score of 83, a Transit Score of 82, and a Bike Score of 74.
Key Highlights
- 3,350 square feet of living space in a 23x48, 3‑story brick building
- Two 3‑bedroom units plus a 2‑bedroom garden unit
- Updated electrical, heating, and plumbing systems
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
$81,564
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
6.92%
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%
$1,631,280
$1.6M
Cap Rate 7%
$1,165,200
$1.2M
Cap Rate 9%
$906,267
$906.3K
Market Conditions
NOI Build-Up for 3,350 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
$124.6K $37.20/SF
− Vacancy
−$8.1K −$2.42/SF
EGI
$116.5K $34.78/SF
− OpEx
−$35.0K −$10.43/SF
NOI
$81.6K $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%
$1,631,280
Cap Rate 7%
$1,165,200
Cap Rate 9%
$906,267
Alternative Uses
Best Use
Multifamily LT 5
$1.17M
$1.02M – $1.36M
NOI $81,564 @ 7.0% cap · market cap 6.92%
Second Best
Apartment 5plus
$1.04M
$911.2K – $1.21M
NOI $72,897 @ 7.0% cap · market cap 6.18%
Theoretical Best
Warehouse
$2.32M
$2.03M – $2.71M
NOI $162,492 @ 7.0% cap · market cap 13.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
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 feature updated interiors, private parking, and a garage in a walkable Bronx setting.
Where is this triplex located?
The property is located at 775 E 216th St The 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: 3,350 square feet of living space in a 23x48, 3‑story brick building; Two 3‑bedroom units plus a 2‑bedroom garden unit; Updated electrical, heating, and plumbing systems
