Two-Bedroom Residential Income
For Sale
$799,000
140 Edgecombe Avenue 1, New York City, NY 10030
Condominium residence with an open kitchen, updated bath, in-unit laundry, and elevator building access.
Property Size872 SF
Price / SF$916.28
Days on Market8
Property Features for 140 Edgecombe Avenue 1
General Information
Standard status
Active
Size
872 SF
Elevators
Yes
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,099
Amenities
storage
outdoor space
pets welcome
renovated bathrooms
walk-in closets
open kitchen
breakfast bar
stainless steel appliances
dishwasher
microwave
hardwood floors
washer/dryer
Building Details
Building Size
872 SF
Year Built
1920
Listing Agency:
Compass
(917) 407-4248
Listed By:
Charlie Lewis
(917) 407-4248
Source:
Bondnyre
Added: Aug 17
Changed: Aug 24
Last Checked: Aug 23 at 7:52AM
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 Compass
Investment Insights
Based on property information with market context.
This 872-square-foot residential income property is a two-bedroom condominium in a 1920 building. The residence features an open kitchen with breakfast bar, stainless steel appliances, dishwasher, microwave, hardwood floors, and a stacked washer and dryer. Both bedrooms include walk-in closets, and the bathroom has been renovated.
Building amenities include an elevator, storage, outdoor space, and a pet-friendly policy. The property is located at 140 Edgecombe Avenue in New York City’s Central Harlem, approximately 5 minutes from the express D and A trains. St. Nicholas Park, Jackie Robinson Park, City College, Super Foodtown, and other nearby commercial and community destinations are also identified in the property information.
Building amenities include an elevator, storage, outdoor space, and a pet-friendly policy. The property is located at 140 Edgecombe Avenue in New York City’s Central Harlem, approximately 5 minutes from the express D and A trains. St. Nicholas Park, Jackie Robinson Park, City College, Super Foodtown, and other nearby commercial and community destinations are also identified in the property information.
Key Highlights
- 872 SF two‑bedroom condominium residence
- Renovated bathroom and walk‑in closets in both bedrooms
- Open kitchen with breakfast bar and stainless steel appliances
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
$27,283
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
3.41%
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%
$545,660
$545.7K
Cap Rate 7%
$389,757
$389.8K
Cap Rate 9%
$303,144
$303.1K
Market Conditions
NOI Build-Up for 872 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
$52.2K $59.88/SF
− Vacancy
−$2.6K −$2.99/SF
EGI
$49.6K $56.89/SF
− OpEx
−$22.3K −$25.60/SF
NOI
$27.3K $31.29/SF
Area
New York, NY
Vacancy
5.00%
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%
$545,660
Cap Rate 7%
$389,757
Cap Rate 9%
$303,144
Alternative Uses
Best Use
Apartment 5plus
$389.8K
$341.0K – $454.7K
NOI $27,283 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.17M
$1.90M – $2.53M
NOI $151,937 @ 7.0% cap · market cap 19.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
6,628
Businesses Nearby
Explore this area
Business Placement
Demographics for 10030, NY
29,686
Population
14,602
Households
2
Avg Household Size
36
Median Age
35%
College-Educated
78%
High-School Grad
0.3 sq mi
ZIP Area
98,953
Density / Sq Mi
$42,738
Median Household Income
$37,388
Median Earnings
$1,204
Median Rent
$810,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with an open kitchen, updated bath, in-unit laundry, and elevator building access.
Where is this residential income property located?
The property is located at 140 Edgecombe Avenue 1 New York City, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 872 SF two‑bedroom condominium residence; Renovated bathroom and walk‑in closets in both bedrooms; Open kitchen with breakfast bar and stainless steel appliances
