Renovated Bronx Three-Family
For Sale
$975,000
Pending
794 Fairmount Pl The, Bronx, NY 10460
Completely renovated three-family property with finished basement and separate entrance.
Property Size3,200 SF
Days on Market110
Property Features for 794 Fairmount Pl The
General Information
Standard status
Pending
Size
3,200 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$4,250
Building Details
Building Size
3,200 SF
Year Built
1899
Units
3
Listing Agency:
Joseph Baratta
(718) 482-7100
Listed By:
Mario Tsikis CBR
(718) 482-7100
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 11 at 8:57AM
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 Joseph Baratta
Investment Insights
Based on property information with market context.
This is a three-family property that was fully gut renovated to the frame in 2016. The property includes a full finished basement with a separate entrance. All meters are located outside. In 2024, three new tankless heaters were installed, and a new water main from the street was installed in 2016. The location has a bike score of 74, indicating it is very bikeable, a walk score of 80, indicating it is very walkable, and a transit score of 100, indicating it is a rider's paradise.
Key Highlights
- Full gut renovation to the frame was completed in 2016
- Transit score of 100, a Rider's Paradise
- Worry‑free investment opportunity
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
$81,285
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
8.34%
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%
$1,625,700
$1.6M
Cap Rate 7%
$1,161,214
$1.2M
Cap Rate 9%
$903,167
$903.2K
Market Conditions
NOI Build-Up for 3,200 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
$122.9K $38.40/SF
− Vacancy
−$6.8K −$2.11/SF
EGI
$116.1K $36.29/SF
− OpEx
−$34.8K −$10.89/SF
NOI
$81.3K $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%
$1,625,700
Cap Rate 7%
$1,161,214
Cap Rate 9%
$903,167
Alternative Uses
Best Use
Multifamily LT 5
$1.16M
$1.02M – $1.35M
NOI $81,285 @ 7.0% cap · market cap 8.34%
Second Best
Apartment 5plus
$1.05M
$920.2K – $1.23M
NOI $73,612 @ 7.0% cap · market cap 7.55%
Theoretical Best
Warehouse
$2.22M
$1.94M – $2.59M
NOI $155,216 @ 7.0% cap · market cap 15.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,329
Businesses Nearby
Explore this area
Business Placement
Demographics for 10460, NY
62,625
Population
24,085
Households
2.6
Avg Household Size
34
Median Age
15%
College-Educated
71%
High-School Grad
1.5 sq mi
ZIP Area
41,750
Density / Sq Mi
$36,067
Median Household Income
$31,283
Median Earnings
$1,332
Median Rent
$589,300
Median Home Value
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?
Triplex - Completely renovated three-family property with finished basement and separate entrance.
Where is this triplex located?
The property is located at 794 Fairmount Pl The Bronx, NY.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Full gut renovation to the frame was completed in 2016; Transit score of 100, a Rider's Paradise; Worry‑free investment opportunity
