Three-Family Residence with
For Sale
$1,080,000
841 Courtlandt Ave The, Bronx, NY 10451
Three-family residence in a rapidly developing Bronx neighborhood.
Property Size2,754 SF
Lot Size0.05 Acres
Days on Market165
Property Features for 841 Courtlandt Ave The
General Information
Standard status
Active
Size
2,754 SF
Lot size
0.05 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$1,642
Building Details
Building Size
2,754 SF
Year Built
2004
Units
3
Listing Agency:
homecoin.com
(888) 400-2513
Listed By:
Jonathan Minerick · License #B.1003079.CORP
(888) 400-2513
Source:
Elliman
Added: Mar 11
Changed: Aug 12
Last Checked: Aug 22 at 9:37AM
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 homecoin.com
Investment Insights
Based on property information with market context.
This fully legal three-family residence is located on an oversized, irregular lot in a rapidly developing neighborhood in the Bronx. The property offers versatility for investors, homeowners, and professionals. It is suitable as an owner-occupied investor home with rental income or as a home base for a business. Key features include flexible use, a gated driveway, and an expansive backyard.
Key Highlights
- Fully legal 3‑family residence.
- Located in a rapidly developing neighborhood.
- Oversized, irregular lot.
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
$69,956
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
6.48%
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%
$1,399,120
$1.4M
Cap Rate 7%
$999,371
$999.4K
Cap Rate 9%
$777,289
$777.3K
Market Conditions
NOI Build-Up for 2,754 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
$105.8K $38.40/SF
− Vacancy
−$5.8K −$2.11/SF
EGI
$99.9K $36.29/SF
− OpEx
−$30.0K −$10.89/SF
NOI
$70.0K $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%
$1,399,120
Cap Rate 7%
$999,371
Cap Rate 9%
$777,289
Alternative Uses
Best Use
Multifamily LT 5
$999.4K
$874.5K – $1.17M
NOI $69,956 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$905.0K
$791.9K – $1.06M
NOI $63,352 @ 7.0% cap · market cap 5.87%
Theoretical Best
Warehouse
$1.91M
$1.67M – $2.23M
NOI $133,583 @ 7.0% cap · market cap 12.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,560
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-family residence in a rapidly developing Bronx neighborhood.
Where is this triplex located?
The property is located at 841 Courtlandt Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,080,000.
What are key features of this property?
This property features: Fully legal 3‑family residence.; Located in a rapidly developing neighborhood.; Oversized, irregular lot.
