Mixed-Use Property with
For Sale
$1,300,000
847 Castle Hill Avenue, Bronx, NY 10473
Residential Income, Bronx, NY
Property Size2,763 SF
Lot Size0.05 Acres
Price / SF$470.50
Days on Market155
Property Features for 847 Castle Hill Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 4, Bathroom 3, Bedroom 2, Bedroom 5, Bathroom 2, Bathroom 4, Basement, Bedroom 3, Bathroom 1
Parking features
Off Street
Interior features
Entrance Foyer, Granite Counters, High Ceilings, Storage
Basement
Unfinished, Crawl Space, Storage Space
Standard status
Active
APN
03685-0041
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9238
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1920
Number of units
4
Building materials
Frame, Vinyl Siding
Additional Structures
Storage
Listing Agency:
Keller Williams Realty Group
(914) 713-3270
Listed By:
Carlos J. Mercedes
(216) 456-4458
Added: Apr 25
Changed: Sep 15
Last Checked: Sep 26 at 1:06PM
MLS# 990959
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use building combines a ground-floor commercial storefront of approximately 500 square feet with three residential apartments. The residential layout includes two first- or second-floor two-bedroom units and one second-floor one-bedroom unit, with a full bathroom in each residence. The first-floor two-bedroom apartment also opens directly to a private fenced backyard. Interior features include high ceilings, storage, granite counters, and select shaker-style cabinetry. The property sits on a 2,035-square-foot lot and is scheduled for delivery fully vacant at closing.
Located at 847 Castle Hill Avenue in the Bronx, the property is positioned within the Castle Hill corridor. The 1920 frame building has vinyl siding, natural gas heating, window or wall/window unit cooling, off-street parking, public water, and public sewer.
Located at 847 Castle Hill Avenue in the Bronx, the property is positioned within the Castle Hill corridor. The 1920 frame building has vinyl siding, natural gas heating, window or wall/window unit cooling, off-street parking, public water, and public sewer.
Key Highlights
- 2,035‑square‑foot lot at 847 Castle Hill Avenue, Bronx, NY 10473
- Approximately 500‑square‑foot ground‑floor commercial storefront
- Three residential units: two 2‑bedroom apartments and one 1‑bedroom apartment
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
$70,185
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
5.40%
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%
$1,403,700
$1.4M
Cap Rate 7%
$1,002,643
$1.0M
Cap Rate 9%
$779,833
$779.8K
Market Conditions
NOI Build-Up for 2,763 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
$106.1K $38.40/SF
− Vacancy
−$5.8K −$2.11/SF
EGI
$100.3K $36.29/SF
− OpEx
−$30.1K −$10.89/SF
NOI
$70.2K $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%
$1,403,700
Cap Rate 7%
$1,002,643
Cap Rate 9%
$779,833
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$877.3K – $1.17M
NOI $70,185 @ 7.0% cap · market cap 5.40%
Second Best
Apartment 5plus
$908.0K
$794.5K – $1.06M
NOI $63,559 @ 7.0% cap · market cap 4.89%
Theoretical Best
Warehouse
$1.91M
$1.68M – $2.23M
NOI $134,020 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,760
Businesses Nearby
Explore this area
Business Placement
Demographics for 10473, NY
62,692
Population
23,234
Households
2.7
Avg Household Size
38
Median Age
24%
College-Educated
75%
High-School Grad
2.1 sq mi
ZIP Area
29,853
Density / Sq Mi
$50,609
Median Household Income
$40,049
Median Earnings
$1,131
Median Rent
$586,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Mixed-use property - Three apartments accompany a ground-floor commercial space in a frame building with off-street parking.
Where is this mixed-use property located?
The property is located at 847 Castle Hill Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 2,035‑square‑foot lot at 847 Castle Hill Avenue, Bronx, NY 10473; Approximately 500‑square‑foot ground‑floor commercial storefront; Three residential units: two 2‑bedroom apartments and one 1‑bedroom apartment
