Top-Floor Residential Income
For Sale
$450,000
123 E 102ND Street 6B, New York City, NY 10029
Top-floor HDFC co-op with two bedrooms, south-facing living space, and abundant built-in storage.
Property Size573 SF
Price / SF$785.34
Days on Market16
Property Features for 123 E 102ND Street 6B
General Information
Standard status
Active
Size
573 SF
Property subtype
Apartment
Units
Unit Mix
2BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
on-site laundry
courtyard
bike storage
Building Details
Building Size
573 SF
Year Built
1930
Buildings
1
Listing Agency:
Decode Real Estate
Listed By:
Sean Adu-Gyamfi
(646) 527-1436
Source:
Carlinwright
Added: Sep 10
Changed: Sep 23
Last Checked: Sep 24 at 4:23PM
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 Decode Real Estate
Investment Insights
Based on property information with market context.
This 1930 HDFC co-op is a two-bedroom apartment on the top floor of a five-flight walk-up. The layout includes a long entry foyer, south-facing living and dining room, windowed pass-through kitchen, five closets, and city views. Both bedrooms are described as quiet and comfortable, with natural light extending through the main living areas.
Building amenities include on-site laundry, an outdoor courtyard, and bike storage, with rooftop access coming soon. The property is near the 6 train at 103rd Street and Lexington, with M101, M102, and M103 bus service along Lexington. Central Park is within walking distance, while East River Plaza is minutes north. Board approval applies to subletting, which is permitted for up to two years after two years of primary residence.
Building amenities include on-site laundry, an outdoor courtyard, and bike storage, with rooftop access coming soon. The property is near the 6 train at 103rd Street and Lexington, with M101, M102, and M103 bus service along Lexington. Central Park is within walking distance, while East River Plaza is minutes north. Board approval applies to subletting, which is permitted for up to two years after two years of primary residence.
Key Highlights
- Two‑bedroom HDFC co‑op at 123 E 102ND Street 6B
- Top‑floor residence in a five‑flight walk‑up
- South‑facing living and dining room with city views
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
$21,851
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
4.86%
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%
$437,020
$437.0K
Cap Rate 7%
$312,157
$312.2K
Cap Rate 9%
$242,789
$242.8K
Market Conditions
NOI Build-Up for 573 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
$41.3K $72.00/SF
− Vacancy
−$1.5K −$2.66/SF
EGI
$39.7K $69.34/SF
− OpEx
−$17.9K −$31.20/SF
NOI
$21.9K $38.13/SF
Area
ZIP 10029
Vacancy
3.70%
Lease Rate
$72.00 /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%
$437,020
Cap Rate 7%
$312,157
Cap Rate 9%
$242,789
Alternative Uses
Best Use
Apartment 5plus
$312.2K
$273.1K – $364.2K
NOI $21,851 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.04M
$1.79M – $2.39M
NOI $143,107 @ 7.0% cap · market cap 31.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
11,974
Businesses Nearby
Explore this area
Business Placement
Demographics for 10029, NY
78,141
Population
36,955
Households
2.1
Avg Household Size
36
Median Age
36%
College-Educated
78%
High-School Grad
1.2 sq mi
ZIP Area
65,118
Density / Sq Mi
$38,308
Median Household Income
$41,951
Median Earnings
$1,183
Median Rent
$818,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Top-floor HDFC co-op with two bedrooms, south-facing living space, and abundant built-in storage.
Where is this residential income property located?
The property is located at 123 E 102ND Street 6B New York City, NY.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑bedroom HDFC co‑op at 123 E 102ND Street 6B; Top‑floor residence in a five‑flight walk‑up; South‑facing living and dining room with city views
