One-Bedroom Residential Income
For Sale
$650,000
1326 MADISON Avenue 23, New York City, NY 10128
A renovated co-op residence pairs prewar architectural details with an updated kitchen and bathroom.
Property Size682 SF
Price / SF$953.08
Days on Market9
Property Features for 1326 MADISON Avenue 23
General Information
Standard status
Active
Size
682 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Amenities
live-in resident manager
laundry room
storage bins
bike room
Building Details
Building Size
682 SF
Year Built
1901
Stories
7
Construction
Renaissance Revival
Listing Agency:
Brown Harris Stevens Residential Sales LLC
Listed By:
Maria F Cangiano
(212) 381-3295
Source:
Howardhannanyc
Added: Sep 23
Changed: Sep 29
Last Checked: Sep 30 at 3:43PM
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 Residential Sales LLC
Investment Insights
Based on property information with market context.
This 682-square-foot, one-bedroom co-op residence has an entry foyer, an oversized living room, and a windowed kitchen with stainless steel appliances, Caesarstone counters, and a wine refrigerator. Exposed brick, tin ceilings, crown moldings, and a decorative fireplace retain historic character; the windowed bathroom includes a soaking tub. Renovations also added hardwood flooring and expanded bedroom closet capacity.
The seven-story building was designed by Neville & Bagge and includes a live-in resident manager, laundry room, storage bins, and bike room. The residence is one block from Central Park and near Museum Mile, including the Guggenheim Museum and Metropolitan Museum of Art. Co-purchasing, gifting, and pets are permitted with board approval.
The seven-story building was designed by Neville & Bagge and includes a live-in resident manager, laundry room, storage bins, and bike room. The residence is one block from Central Park and near Museum Mile, including the Guggenheim Museum and Metropolitan Museum of Art. Co-purchasing, gifting, and pets are permitted with board approval.
Key Highlights
- 682‑square‑foot one‑bedroom co‑op residence
- Oversized living room with exposed brick, tin ceilings, and decorative fireplace
- Windowed kitchen with stainless steel appliances, Caesarstone counters, and wine refrigerator
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
$21,293
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
3.28%
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%
$425,860
$425.9K
Cap Rate 7%
$304,186
$304.2K
Cap Rate 9%
$236,589
$236.6K
Market Conditions
NOI Build-Up for 682 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
$40.8K $59.88/SF
− Vacancy
−$2.1K −$3.11/SF
EGI
$38.7K $56.77/SF
− OpEx
−$17.4K −$25.54/SF
NOI
$21.3K $31.22/SF
Area
ZIP 10128
Vacancy
5.20%
Lease Rate
$59.88 /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%
$425,860
Cap Rate 7%
$304,186
Cap Rate 9%
$236,589
Alternative Uses
Best Use
Apartment 5plus
$304.2K
$266.2K – $354.9K
NOI $21,293 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$484.9K
$424.3K – $565.7K
NOI $33,943 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
17,744
Businesses Nearby
Explore this area
Business Placement
Demographics for 10128, NY
64,249
Population
35,940
Households
1.8
Avg Household Size
38
Median Age
77%
College-Educated
96%
High-School Grad
0.5 sq mi
ZIP Area
128,498
Density / Sq Mi
$148,705
Median Household Income
$103,078
Median Earnings
$2,648
Median Rent
$1,295,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - A renovated co-op residence pairs prewar architectural details with an updated kitchen and bathroom.
Where is this residential income property located?
The property is located at 1326 MADISON Avenue 23 New York City, NY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 682‑square‑foot one‑bedroom co‑op residence; Oversized living room with exposed brick, tin ceilings, and decorative fireplace; Windowed kitchen with stainless steel appliances, Caesarstone counters, and wine refrigerator
