Residential Income Property with
For Sale
$425,000
1919 Madison Avenue 202, New York City, NY 10035
Two-bedroom unit with dedicated dining area, generous living space, and separate galley kitchen.
Property Size941 SF
Price / SF$451.65
Days on Market14
Property Features for 1919 Madison Avenue 202
General Information
Standard status
Active
Size
941 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
24 hour concierge
package room
gym
children's playroom
community room
bike storage
common grounds and garden
live-in super
laundry room
Building Details
Building Size
941 SF
Year Built
1998
Listing Agency:
Sothebys International Realty
(212) 755-1500
Listed By:
Jose A Davila
(212) 755-1500
Source:
Nobleblackandpartners
Added: Jul 28
Changed: Aug 10
Last Checked: Aug 10 at 9:15AM
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 Sothebys International Realty
Investment Insights
Based on property information with market context.
This 941-square-foot, two-bedroom residence is located in a 1998-built elevator building. The interior includes a dedicated dining area, an oversized living room, a separate galley kitchen, substantial cabinet and counter space, large bedrooms, and ample closet storage. Updating is needed, allowing the next owner to rework the space to suit their plans.
Building services include 24-hour concierge coverage, a package room, gym, children’s playroom, community room, laundry room, live-in superintendent, bike storage, common grounds, and a garden. Storage is available for a fee, while outdoor parking is subject to a waitlist and fee. Heat, hot water, and storage are included in the maintenance cost.
Marcus Garvey Park is directly across the street. The property is near the 2, 3, 4, 5, and 6 subway lines, Metro-North trains, Whole Foods, Trader Joe’s, Shake Shack, and Harlem Shack.
Building services include 24-hour concierge coverage, a package room, gym, children’s playroom, community room, laundry room, live-in superintendent, bike storage, common grounds, and a garden. Storage is available for a fee, while outdoor parking is subject to a waitlist and fee. Heat, hot water, and storage are included in the maintenance cost.
Marcus Garvey Park is directly across the street. The property is near the 2, 3, 4, 5, and 6 subway lines, Metro-North trains, Whole Foods, Trader Joe’s, Shake Shack, and Harlem Shack.
Key Highlights
- 941 SF two‑bedroom residence with dedicated dining area
- Large living room, oversized bedrooms, and generous closet storage
- Separate galley kitchen with substantial cabinet and counter space
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
$29,441
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
6.93%
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%
$588,820
$588.8K
Cap Rate 7%
$420,586
$420.6K
Cap Rate 9%
$327,122
$327.1K
Market Conditions
NOI Build-Up for 941 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
$56.3K $59.88/SF
− Vacancy
−$2.8K −$2.99/SF
EGI
$53.5K $56.89/SF
− OpEx
−$24.1K −$25.60/SF
NOI
$29.4K $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%
$588,820
Cap Rate 7%
$420,586
Cap Rate 9%
$327,122
Alternative Uses
Best Use
Apartment 5plus
$420.6K
$368.0K – $490.7K
NOI $29,441 @ 7.0% cap · market cap 6.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.34M
$2.05M – $2.73M
NOI $163,960 @ 7.0% cap · market cap 38.58%
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
7,202
Businesses Nearby
Explore this area
Business Placement
Demographics for 10035, NY
35,980
Population
16,340
Households
2.2
Avg Household Size
38
Median Age
31%
College-Educated
76%
High-School Grad
1.4 sq mi
ZIP Area
25,700
Density / Sq Mi
$40,556
Median Household Income
$44,042
Median Earnings
$1,283
Median Rent
$663,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom unit with dedicated dining area, generous living space, and separate galley kitchen.
Where is this residential income property located?
The property is located at 1919 Madison Avenue 202 New York City, NY.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 941 SF two‑bedroom residence with dedicated dining area; Large living room, oversized bedrooms, and generous closet storage; Separate galley kitchen with substantial cabinet and counter space
