Triplex Property with Detached
For Sale
$839,000
Pending
849 E 232nd St, Bronx, NY 10466
Three two-bedroom units and a finished walk-out basement create a multi-unit residential layout.
Property Size3,022 SF
Days on Market784
Property Features for 849 E 232nd St
General Information
Standard status
Pending
Size
3,022 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x 2BR, 1 x 2BR
Multifamily Units
4
Amenities
private garden
enclosed garbage storage area
Building Details
Year Built
1910
Listing Agency:
Coastal Realty 1 Corp.
Listed By:
Ashley T. Narain (718) 798-8400 · License #10401278339
(845) 300-7760
Source:
Searchhomesinlongisland
Added: Jul 13, 2024
Changed: Sep 2
Last Checked: Sep 4 at 7:15AM
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 Coastal Realty 1 Corp.
Investment Insights
Based on property information with market context.
This 3,022-square-foot triplex, built in 1910, contains three two-bedroom units along with a full, finished walk-out basement. One unit received a 2020 renovation with a granite-counter kitchen, stainless steel appliances, dishwasher, wood cabinetry, and wood flooring. Additional interior features include a pantry and skylight in the top-floor unit, while exterior access includes both a front stairway and fire escape.
The property occupies a double lot at 849 E 232nd St in the Bronx and includes three detached garages, a long driveway, private garden, additional land, and enclosed garbage storage. Heating fuel is oil with an above-ground system. The existing tenant occupies one unit, while the remaining units are owner-occupied and will be delivered vacant.
The property occupies a double lot at 849 E 232nd St in the Bronx and includes three detached garages, a long driveway, private garden, additional land, and enclosed garbage storage. Heating fuel is oil with an above-ground system. The existing tenant occupies one unit, while the remaining units are owner-occupied and will be delivered vacant.
Key Highlights
- 3,022‑square‑foot triplex on a double lot
- Three two‑bedroom units plus a full, finished walk‑out basement
- 2020 renovation with granite counters, stainless steel appliances, and wood cabinetry
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
$76,764
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
9.15%
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%
$1,535,280
$1.5M
Cap Rate 7%
$1,096,629
$1.1M
Cap Rate 9%
$852,933
$852.9K
Market Conditions
NOI Build-Up for 3,022 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
$116.0K $38.40/SF
− Vacancy
−$6.4K −$2.11/SF
EGI
$109.7K $36.29/SF
− OpEx
−$32.9K −$10.89/SF
NOI
$76.8K $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%
$1,535,280
Cap Rate 7%
$1,096,629
Cap Rate 9%
$852,933
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$959.6K – $1.28M
NOI $76,764 @ 7.0% cap · market cap 9.15%
Second Best
Apartment 5plus
$993.1K
$869.0K – $1.16M
NOI $69,517 @ 7.0% cap · market cap 8.29%
Theoretical Best
Warehouse
$2.09M
$1.83M – $2.44M
NOI $146,582 @ 7.0% cap · market cap 17.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,124
Businesses Nearby
Explore this area
Business Placement
Demographics for 10466, NY
70,420
Population
26,303
Households
2.7
Avg Household Size
38
Median Age
26%
College-Educated
81%
High-School Grad
2.0 sq mi
ZIP Area
35,210
Density / Sq Mi
$66,328
Median Household Income
$44,053
Median Earnings
$1,528
Median Rent
$605,300
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 two-bedroom units and a finished walk-out basement create a multi-unit residential layout.
Where is this triplex located?
The property is located at 849 E 232nd St Bronx, NY.
What is the asking price?
The asking price for this property is $839,000.
What are key features of this property?
This property features: 3,022‑square‑foot triplex on a double lot; Three two‑bedroom units plus a full, finished walk‑out basement; 2020 renovation with granite counters, stainless steel appliances, and wood cabinetry
