Residential Income Property with Updated
For Sale
$225,000
91 VAN CORTLANDT Avenue W 3F, Bronx, NY 10463
One-bedroom residence with renovated interiors, building laundry, transit access, and an indoor parking garage waitlist.
Property Size825 SF
Price / SF$272.73
Days on Market75
Property Features for 91 VAN CORTLANDT Avenue W 3F
General Information
Standard status
Active
Size
825 SF
Property subtype
Apartment
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Amenities
laundry room
live-in super
indoor parking garage
Building Details
Building Size
825 SF
Listing Agency:
Brown Harris Stevens Riverdale LLC
(561) 371-1648
Listed By:
Brian Beaudry
(561) 371-1648
Source:
Howardhannanyc
Added: Jun 2
Changed: Aug 15
Last Checked: Aug 15 at 3:56AM
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 Brown Harris Stevens Riverdale LLC
Investment Insights
Based on property information with market context.
This 825-square-foot, one-bedroom, one-bath residence is located on the third floor of a 49-apartment community. The home features hardwood flooring, updated lighting, generous closet space, and a renovated windowed bathroom. Its windowed galley kitchen includes stainless-steel appliances, soft-close cabinetry, quartz countertops, and an adjacent dining area.
A bus stop is directly in front of the building, with access to the 1, 4, and D subway trains nearby. The property is less than one-half mile from the Henry Hudson Parkway and Major Deegan Expressway, also known as Route 87. Van Cortlandt Park is around the corner and includes playgrounds, tennis courts, a track, horse stables, trails, and a golf course.
Building features include a laundry room, live-in superintendent, pet-friendly policies subject to board approval, and an indoor parking garage with a waitlist. Maintenance covers heat, property taxes, and water.
A bus stop is directly in front of the building, with access to the 1, 4, and D subway trains nearby. The property is less than one-half mile from the Henry Hudson Parkway and Major Deegan Expressway, also known as Route 87. Van Cortlandt Park is around the corner and includes playgrounds, tennis courts, a track, horse stables, trails, and a golf course.
Building features include a laundry room, live-in superintendent, pet-friendly policies subject to board approval, and an indoor parking garage with a waitlist. Maintenance covers heat, property taxes, and water.
Key Highlights
- 825‑square‑foot one‑bedroom, one‑bath residence
- Updated windowed galley kitchen with stainless‑steel appliances and quartz countertops
- Renovated windowed bathroom, hardwood floors, and updated lighting
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
$18,978
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
8.43%
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%
$379,560
$379.6K
Cap Rate 7%
$271,114
$271.1K
Cap Rate 9%
$210,867
$210.9K
Market Conditions
NOI Build-Up for 825 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
$36.6K $44.40/SF
− Vacancy
−$2.1K −$2.58/SF
EGI
$34.5K $41.82/SF
− OpEx
−$15.5K −$18.82/SF
NOI
$19.0K $23.00/SF
Area
Bronx, NY
Vacancy
5.80%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
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%
$379,560
Cap Rate 7%
$271,114
Cap Rate 9%
$210,867
Alternative Uses
Best Use
Apartment 5plus
$271.1K
$237.2K – $316.3K
NOI $18,978 @ 7.0% cap · market cap 8.43%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$571.7K
$500.2K – $667.0K
NOI $40,017 @ 7.0% cap · market cap 17.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,297
Businesses Nearby
Explore this area
Business Placement
Demographics for 10463, NY
71,301
Population
30,602
Households
2.3
Avg Household Size
41
Median Age
44%
College-Educated
85%
High-School Grad
2.8 sq mi
ZIP Area
25,465
Density / Sq Mi
$72,952
Median Household Income
$48,409
Median Earnings
$1,611
Median Rent
$352,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom residence with renovated interiors, building laundry, transit access, and an indoor parking garage waitlist.
Where is this residential income property located?
The property is located at 91 VAN CORTLANDT Avenue W 3F Bronx, NY.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 825‑square‑foot one‑bedroom, one‑bath residence; Updated windowed galley kitchen with stainless‑steel appliances and quartz countertops; Renovated windowed bathroom, hardwood floors, and updated lighting
