Two Side-by-Side 3-Family
For Sale
$1,249,999
871 E 178th St The, Bronx, NY 10460
Two well-maintained 3-family properties built in the mid-2000s, offered together on the same block.
Property Size3,090 SF
Days on Market120
Property Features for 871 E 178th St The
General Information
Standard status
Active
Size
3,090 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$2,770
Building Details
Building Size
3,090 SF
Year Built
2006
Units
3
Listing Agency:
eXp Realty
Listed By:
Bryan Y. Blanco · License #10401335839
(551) 209-6114
Source:
Elliman
Added: May 9
Changed: Aug 16
Last Checked: Sep 5 at 7:57AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This offering includes two very well maintained 3-family properties located side-by-side on the same block. Both buildings were built in the mid-2000s and are described as having spacious units with solid layouts suited to long-term occupancy, as well as potential for future improvement.
The seller indicates the 2nd and 3rd floors have enough space to add a 4th bedroom if preferred. Delivery may be fully vacant or with tenants in place, and the two properties can also be acquired as part of a package with 865 E 178th St, described as identical.
The information provided also references relatively low property taxes compared to similar multifamily assets, supporting current cash flow. The properties are categorized for residential income use and are available for sale.
The seller indicates the 2nd and 3rd floors have enough space to add a 4th bedroom if preferred. Delivery may be fully vacant or with tenants in place, and the two properties can also be acquired as part of a package with 865 E 178th St, described as identical.
The information provided also references relatively low property taxes compared to similar multifamily assets, supporting current cash flow. The properties are categorized for residential income use and are available for sale.
Key Highlights
- Two side‑by‑side 3‑family properties on the same block, built in 2006 (mid‑2000s).
- Well‑maintained multifamily homes with spacious unit layouts suitable for long‑term tenants or future repositioning.
- 2nd and 3rd floor have enough space to add a 4th bedroom if preferred.
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
$78,491
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
6.28%
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%
$1,569,820
$1.6M
Cap Rate 7%
$1,121,300
$1.1M
Cap Rate 9%
$872,122
$872.1K
Market Conditions
NOI Build-Up for 3,090 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
$118.7K $38.40/SF
− Vacancy
−$6.5K −$2.11/SF
EGI
$112.1K $36.29/SF
− OpEx
−$33.6K −$10.89/SF
NOI
$78.5K $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%
$1,569,820
Cap Rate 7%
$1,121,300
Cap Rate 9%
$872,122
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$981.1K – $1.31M
NOI $78,491 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$1.02M
$888.5K – $1.18M
NOI $71,081 @ 7.0% cap · market cap 5.69%
Theoretical Best
Warehouse
$2.14M
$1.87M – $2.50M
NOI $149,881 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,024
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
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Frequently Asked Questions
What type of property is this?
Triplex - Two well-maintained 3-family properties built in the mid-2000s, offered together on the same block.
Where is this triplex located?
The property is located at 871 E 178th St The Bronx, NY.
What is the asking price?
The asking price for this property is $1,249,999.
What are key features of this property?
This property features: Two side‑by‑side 3‑family properties on the same block, built in 2006 (mid‑2000s).; Well‑maintained multifamily homes with spacious unit layouts suitable for long‑term tenants or future repositioning.; 2nd and 3rd floor have enough space to add a 4th bedroom if preferred.
