Renovated Harlem One-Bedroom HDFC
For Sale
$395,000
145 Morningside Ave 2C, New York, NY 10027
Move-in-ready, renovated one-bedroom HDFC co-op in Harlem.
Property Size650 SF
Days on Market270
Property Features for 145 Morningside Ave 2C
General Information
Standard status
Active
Size
650 SF
Property subtype
Residential
Building Details
Building Size
650 SF
Year Built
1900
Listing Agency:
(201) 592-8900
Listed By:
David J. Gossett
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 16
Last Checked: Aug 25 at 10:05AM
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 David J. Gossett
Investment Insights
Based on property information with market context.
This renovated one-bedroom apartment is located in a well-maintained HDFC building in Harlem. The unit features a modern kitchen with stainless steel appliances, a large primary bedroom, a light-filled living room, and hardwood floors. The building, 145 Morningside, is a well-kept HDFC co-op with a landscaped common garden, laundry room, bike storage, and pet-friendly policies (dogs case-by-case). The property is situated between 125th and 126th streets, providing access to Morningside Park, playgrounds, and the A/B/C/D subway lines, which are one block away. The building uses oil above ground for heating.
Key Highlights
- Move‑in‑ready, beautifully renovated 1‑bedroom apartment.
- Ideal location: close to Morningside Park and A/B/C/D subway lines.
- Sleek, modern kitchen with 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
$20,337
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
5.15%
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%
$406,740
$406.7K
Cap Rate 7%
$290,529
$290.5K
Cap Rate 9%
$225,967
$226.0K
Market Conditions
NOI Build-Up for 650 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
$38.9K $59.88/SF
− Vacancy
−$1.9K −$2.99/SF
EGI
$37.0K $56.89/SF
− OpEx
−$16.6K −$25.60/SF
NOI
$20.3K $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%
$406,740
Cap Rate 7%
$290,529
Cap Rate 9%
$225,967
Alternative Uses
Best Use
Apartment 5plus
$290.5K
$254.2K – $339.0K
NOI $20,337 @ 7.0% cap · market cap 5.15%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.62M
$1.42M – $1.89M
NOI $113,256 @ 7.0% cap · market cap 28.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,851
Businesses Nearby
Explore this area
Business Placement
Demographics for 10027, NY
64,037
Population
28,038
Households
2.3
Avg Household Size
32
Median Age
52%
College-Educated
87%
High-School Grad
0.9 sq mi
ZIP Area
71,152
Density / Sq Mi
$64,220
Median Household Income
$44,231
Median Earnings
$1,609
Median Rent
$915,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Move-in-ready, renovated one-bedroom HDFC co-op in Harlem.
Where is this apartment building located?
The property is located at 145 Morningside Ave 2C New York, NY.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Move‑in‑ready, beautifully renovated 1‑bedroom apartment.; Ideal location: close to Morningside Park and A/B/C/D subway lines.; Sleek, modern kitchen with stainless steel appliances.
