Residential Income Property with
For Sale
$749,000
1790 3rd Avenue 901, New York City, NY 10029
Two-bedroom residence featuring smart-home technology, Bosch appliances, and an in-unit washer and dryer.
Property Size651 SF
Price / SF$1,150
Days on Market32
Property Features for 1790 3rd Avenue 901
General Information
Standard status
Active
Size
651 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$13,104
Amenities
rooftop terrace
smart home features
in-unit washer and dryer
hardwood floors
stainless steel appliances
Caesarstone countertops
floor-to-ceiling windows
Building Details
Building Size
651 SF
Year Built
2017
Listing Agency:
Compass
(917) 848-0988
Listed By:
Christine Barranca
(917) 848-0988
Source:
Carlinwright
Added: Jul 16
Changed: Aug 13
Last Checked: Aug 16 at 2:06PM
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 2017 residential income property includes a two-bedroom, one-bath residence with western and southern exposures. Floor-to-ceiling windows, six-inch white oak flooring, and an open layout define the main living areas. The kitchen has flat-panel cabinetry, Caesarstone countertops, and stainless steel Bosch appliances, while the bathroom includes Calacatta porcelain tile, a Duravit vanity, and Grohe fixtures. Smart-home features and an in-unit Bosch washer and dryer add functional convenience.
Residents have access to a rooftop terrace with city skyline and river views. The property is located at 1790 3rd Avenue in New York City, near Madison Avenue boutiques, the Metropolitan Museum of Art, the Guggenheim Museum, the 92nd Street Y, and major hospitals.
Residents have access to a rooftop terrace with city skyline and river views. The property is located at 1790 3rd Avenue in New York City, near Madison Avenue boutiques, the Metropolitan Museum of Art, the Guggenheim Museum, the 92nd Street Y, and major hospitals.
Key Highlights
- Two‑bedroom, one‑bath residence with western and southern exposures
- Floor‑to‑ceiling windows and six‑inch white oak hardwood floors
- Kitchen with Caesarstone countertops and stainless steel Bosch 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
$24,826
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
3.31%
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%
$496,520
$496.5K
Cap Rate 7%
$354,657
$354.7K
Cap Rate 9%
$275,844
$275.8K
Market Conditions
NOI Build-Up for 651 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
$46.9K $72.00/SF
− Vacancy
−$1.7K −$2.66/SF
EGI
$45.1K $69.34/SF
− OpEx
−$20.3K −$31.20/SF
NOI
$24.8K $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%
$496,520
Cap Rate 7%
$354,657
Cap Rate 9%
$275,844
Alternative Uses
Best Use
Apartment 5plus
$354.7K
$310.3K – $413.8K
NOI $24,826 @ 7.0% cap · market cap 3.31%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.32M
$2.03M – $2.71M
NOI $162,587 @ 7.0% cap · market cap 21.71%
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
13,432
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom residence featuring smart-home technology, Bosch appliances, and an in-unit washer and dryer.
Where is this residential income property located?
The property is located at 1790 3rd Avenue 901 New York City, NY.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bath residence with western and southern exposures; Floor‑to‑ceiling windows and six‑inch white oak hardwood floors; Kitchen with Caesarstone countertops and stainless steel Bosch appliances
