7170 E 138thb Bronx Ny, Neighborhood, Features & More
Introduction to 7170 E 138thb Bronx Ny
7170 E 138th St, Bronx, NY, has emerged as a key location for real estate investors and enthusiasts, drawing attention due to its prime position within the Bronx. Situated in an area that is constantly evolving, this property offers a blend of potential and opportunity, making it an ideal choice for individuals seeking to make savvy investmentsin the cutthroat real estate market of New York City.
When exploring the Bronx’s real estate offerings, it’s essential to understand both the specific attributes of the property at 7170 E 138th St and its surrounding neighborhood. This property is strategically located, offering proximity to vital transportation hubs, commercial centers, and recreational areas that enhance its appeal. These features make it a promising option for a variety of potential buyers, including investors looking for rental opportunities or individuals seeking a place to settle in one of New York’s most diverse boroughs.
The Bronx real estate market, while historically known for being more affordable compared to Manhattan and Brooklyn, has seen significant growth in recent years. As the area continues to attract new developments, both residential and commercial, properties like 7170 E 138th St are seeing increasing demand. This upward trend has led to a rise in property values, making it an important consideration for those looking to make long-term investments.
For potential buyers and investors, understanding the nuances of the local market is essential for making informed decisions. The Bronx offers a unique mix of affordable housing options paired with proximity to the city’s major attractions and job centers, making it an attractive destination for renters and buyers alike. Whether you are seeking a starter home, a rental property, or a place for family growth, the area around 7170 E 138th St has something to offer.
This article aims to provide valuable insights into the property’s potential, giving readers a thorough understanding of what makes this location a solid investment opportunity. By examining market trends, evaluating the property’s unique features, and offering tips on navigating the Bronx real estate market, readers will be equipped with the knowledge they need to make confident decisions when purchasing property in this dynamic borough.
In conclusion, 7170 E 138th St, Bronx, NY, stands out as an excellent opportunity for those interested in exploring the Bronx’s ever-growing real estate landscape. The property’s location, paired with the ongoing development in the area, positions it as a compelling choice for both investors and homebuyers alike.
Overview of 7170 E 138th Street, Bronx
7170For both investors and purchasers, E 138th St., in the Bronx, New York’s Port Morris area, presents an interesting prospect. Located in ZIP code 10454, this neighborhood is well-known for offering a wide variety of real estate choices, making it a top destination for individuals wishing to buy real estate in New York City. For people looking for investment opportunities, the property’s location within a designated opportunity zone may offer special advantages.
Location and Neighborhood Overview
The Port Morris neighborhood, where 7170 E 138th St is situated, is a thriving part of the Bronx, offering a wealth of amenities and excellent connectivity to other parts of the city. The area is well-served by School District 7 and is part of Community District 1, ensuring residents have access to educational and community resources. For added convenience and peace of mind, the nearest police station is located just 0.73 miles away, and the closest fire station is a mere 0.14 miles from the property, enhancing the area’s safety profile.
The property’s location in an opportunity zone can present significant advantages for investors, including potential tax incentives and opportunities for redevelopment or new construction, which could further drive the area’s growth.
Property Features
7170 E 138th St is classified as a Lot Land, covering 1.16 acres, offering ample space for potential development or other real estate endeavors. While specific details about this property are limited, examining nearby properties provides valuable context.A nearby property at 710 East 138th Street, for instance, has comparable features and provides information about the kinds of developments that are typical in the neighborhood.
An 18,640-square-foot walk-up apartment complex may be found at 710 East 138th Street. Constructed in 1910 and renovated in 2003, this five-story complex showcases the mixed-use potential of nearby buildings with 19 residential and 4 commercial units. The approximate 4,492 square foot lot size can give prospective investors or developers thinking about 7170 E 138th St some context.
Market Trends and Investment Insights
The Bronx actual property market, in particular in ZIP code 10454, has been experiencing regular increase. Recent data well-knownshows that the median domestic fee in this place is round $746,386, reflecting a strong and increasingly more appealing market. This facts is crucial for both customers and traders because it affords a benchmark for making informed decisions.
Additionally, the 2023 tax evaluation for 7170 E 138th St became recorded at $107,000, offering in addition insight into the belongings’s financial panorama. Given the place’s popularity as an opportunity quarter, the capability for destiny appreciation and boom is enormous, making this assets an attractive option for the ones seeking to capitalize on the continued improvement inside the Bronx.
In summary, 7170 E 138th St affords a compelling possibility inside the coronary heart of Port Morris, Bronx. With its strategic vicinity, proximity to crucial offerings, and designation within an opportunity quarter, this assets offers great capability for those interested by the evolving Bronx actual estate market. Whether for improvement, funding, or long-term boom, this belongings is positioned to benefit from the continued revitalization of the vicinity.
Comparative Analysis with Nearby Properties
It is crucial to take into account the surrounding real estate trends while assessing the investment possibilities of 7170 E 138th St, Bronx, NY. For prospective buyers and investors, a detailed examination of surrounding properties helps paint a clearer picture of the market dynamics and provides insightful information.
Property Price Analysis
7170 E 138th St is located in the ZIP code 10454, which has a median house value of $746,386. Compared to the national median of $204,900, the state median of $302,200, and the wider county median of $382,900, this is far higher. For comparison, a nearby property located at 710 East 138th Street is priced at $308 per square foot and is listed for $5,750,000.These figures suggest that the Port Morris neighborhood, where the property is located, commands premium prices compared to more average market areas, indicating a growing demand and strong investment potential.
Size and Property Features
7170E 138th St provides a larger lot than other homes in the neighborhood, totaling 1.16 acres. 710 East 138th Street, which is 18,640 square feet and contains 19 residential apartments in addition to four commercial spaces, is an illustration of the area’s potential for mixed-use development.Constructed in 1910 and renovated in 2003, this building showcases the significance of older properties receiving contemporary improvements and shows the neighborhood’s continuous revival. Further demonstrating the wide variety of real estate alternatives in the area—from smaller developments to larger, more expansive properties—is another neighboring property that provides up to 7,500 square feet with ceiling heights of 18 feet.
Investment Opportunities
Given its status as an opportunity zone, the Bronx market offers investors an intriguing prospect. Although Bronx County’s yearly home appreciation rate has stayed relatively constant at -0.01% over the last ten years, matching the state average, the area’s growth potential is enhanced by its placement within an opportunity zone. These zones offer a number of tax breaks that further entice investment in the region.
Additionally, the median gross rent in Bronx County stands at $1,176, slightly below the state average but higher than the national median. This suggests a competitive rental market, with potential for stable rental income. Coupled with the borough’s job market developments and ongoing gentrification, the area’s long-term appreciation prospects look promising, particularly for those looking to capitalize on the future growth of the Bronx.
In conclusion, 7170 E 138th St presents a solid opportunity for investors, with favorable property prices, a strong rental market, and the potential for long-term value growth. Its location in an opportunity zone, along with nearby real estate developments, makes it an attractive option for anyone looking to invest in the dynamic Bronx real estate market.
Frequently Asked Questions (FAQs) about 7170 E 138th St, Bronx, NY
1. Where is 7170 E 138th St located?
7170 E 138th St is located in the Port Morris neighborhood of the Bronx, New York, within ZIP code 10454. This area is known for its ongoing development and proximity to key transportation hubs and amenities.
2. What is the size of the property?
The property spans 1.16 acres, offering ample space for potential development, investment, or other real estate endeavors.
3. What makes the location of 7170 E 138th St attractive for investors?
The property is situated within an opportunity zone, which can provide investors with significant tax incentives. The area is also seeing increasing demand, with rising property values and a growing rental market, making it an appealing location for long-term investments.
4. What is the median home value in the area?
The median home value in the ZIP code 10454, where 7170 E 138th St is located, is approximately $746,386, which is higher than both the county and state averages. This indicates the neighborhood’s increasing demand and investment potential.
5. Are there nearby properties with similar features?
Yes, a nearby property at 710 East 138th Street offers a larger mixed-use building with 19 residential units and 4 commercial spaces. This highlights the potential for similar mixed-use developments in the area. Other nearby properties also show the diversity of real estate opportunities in the neighborhood, from smaller buildings to larger developments with expansive spaces.
6. What is the rental market like in the Bronx?
The median gross rent in Bronx County is around $1,176, which is slightly below the state average but still above the national median. This indicates a competitive rental market, with good potential for stable rental income.
7. What are the investment opportunities in the area?
Due to its designation as an opportunity zone, the property at 7170 E 138th St presents unique tax incentives for investors. The area’s ongoing revitalization and development, combined with rising property values, make it a strong candidate for both short-term and long-term investments.
8. How has the property market in the Bronx been trending?
The Bronx market, particularly in ZIP code 10454, has been experiencing steady growth. Despite a slight dip in the annual home appreciation rate over the past decade, the area’s ongoing development and increasing demand are expected to drive future growth and value appreciation.
9. Is 7170 E 138th St a good option for homebuyers?
Yes, the property’s strategic location in the Bronx, its proximity to key services, and its designation as an opportunity zone make it an attractive option for homebuyers, especially those seeking a growing, diverse neighborhood with access to New York City’s amenities.
10. What are the advantages of purchasing in an opportunity zone?
Investing in an opportunity zone like the one where 7170 E 138th St is located can offer tax benefits, including capital gains tax incentives. This makes it an appealing option for investors looking to reduce their tax burden while taking advantage of the area’s potential for growth and development.
Final Words
7170 E 138th St, Bronx, NY, stands as a significant opportunity for real estate investors and potential buyers in the rapidly evolving Port Morris neighborhood. The property’s appeal is increased by the fact that it is situated in an opportunity zone, which provides possible tax breaks and development opportunities.
Rising property values and a developing real estate market reflect the area’s growing demand, making it a desirable place to make long-term investments.The proximity to key services, including transportation and community amenities, adds value, while nearby properties provide context for the area’s mixed-use potential.
For those looking to invest, the competitive rental market and the ongoing revitalization of the Bronx suggest strong potential for future growth, making 7170 E 138th St a promising choice in New York City’s diverse and dynamic real estate landscape.
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