Residential Income Property with
For Sale
$775,000
192 LENOX Avenue PHA, New York City, NY 10026
Duplex one-bedroom residence with renovated interiors and individually controlled heating and cooling.
Property Size806 SF
Price / SF$961.54
Days on Market153
Property Features for 192 LENOX Avenue PHA
General Information
Standard status
Active
Size
806 SF
Property subtype
Duplex
Units
Unit Mix
1 x 1BR duplex
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
terrace
storage unit
virtual doorman
package room
washer/dryer
Building Details
Building Size
806 SF
Year Built
1900
Listing Agency:
Brown Harris Stevens Residential Sales LLC
(212) 381-2256
Listed By:
Lily Lee Wong
(212) 381-2256
Source:
Miradorrealestate
Added: Mar 25
Changed: Aug 23
Last Checked: Aug 23 at 8:46AM
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 806-square-foot duplex residence occupies the PHA level of a five-unit building constructed in 1900. The lower floor contains the bedroom, bathroom, and laundry area, while the upper floor combines living and dining space with a kitchen finished with White Carrara marble, KraftMaid cabinetry, Bosch cooking appliances, a Summit refrigerator, and a Bosch dishwasher. The bathroom includes Bianco Dolomiti marble tile, a Kohler soaking tub, Duravit fixtures, and Grohe hardware. Additional features include exposed brick, white oak flooring, oversized low-E double-hung windows, individually controlled heating and cooling, and a full-sized stackable washer and dryer.
The property is within the Mount Morris Landmarks District and includes access to an exclusive rooftop terrace with city views. A 12sf. storage unit conveys with the purchase. Building services include 24-hour virtual doorman coverage and a package room, with internet and cable pre-wiring in the residence. The 2 and 3 train station is three blocks away, with access to the B, C, and 6 trains. Marcus Garvey Park is one block away, while Whole Foods and Trader Joe's are at 125th Street.
The property is within the Mount Morris Landmarks District and includes access to an exclusive rooftop terrace with city views. A 12sf. storage unit conveys with the purchase. Building services include 24-hour virtual doorman coverage and a package room, with internet and cable pre-wiring in the residence. The 2 and 3 train station is three blocks away, with access to the B, C, and 6 trains. Marcus Garvey Park is one block away, while Whole Foods and Trader Joe's are at 125th Street.
Key Highlights
- 806‑square‑foot duplex one‑bedroom residence in a five‑unit building
- Renovated kitchen with White Carrara marble, KraftMaid cabinetry, and Bosch appliances
- Bathroom finished with Bianco Dolomiti marble, Kohler, Duravit, and Grohe fixtures
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
$25,218
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
3.25%
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%
$504,360
$504.4K
Cap Rate 7%
$360,257
$360.3K
Cap Rate 9%
$280,200
$280.2K
Market Conditions
NOI Build-Up for 806 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
$48.3K $59.88/SF
− Vacancy
−$2.4K −$2.99/SF
EGI
$45.9K $56.89/SF
− OpEx
−$20.6K −$25.60/SF
NOI
$25.2K $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%
$504,360
Cap Rate 7%
$360,257
Cap Rate 9%
$280,200
Alternative Uses
Best Use
Apartment 5plus
$360.3K
$315.2K – $420.3K
NOI $25,218 @ 7.0% cap · market cap 3.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.01M
$1.76M – $2.34M
NOI $140,437 @ 7.0% cap · market cap 18.12%
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
8,671
Businesses Nearby
Explore this area
Business Placement
Demographics for 10026, NY
35,644
Population
17,648
Households
2
Avg Household Size
37
Median Age
54%
College-Educated
90%
High-School Grad
0.4 sq mi
ZIP Area
89,110
Density / Sq Mi
$74,140
Median Household Income
$56,919
Median Earnings
$1,546
Median Rent
$1,014,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Duplex one-bedroom residence with renovated interiors and individually controlled heating and cooling.
Where is this residential income property located?
The property is located at 192 LENOX Avenue PHA New York City, NY.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 806‑square‑foot duplex one‑bedroom residence in a five‑unit building; Renovated kitchen with White Carrara marble, KraftMaid cabinetry, and Bosch appliances; Bathroom finished with Bianco Dolomiti marble, Kohler, Duravit, and Grohe fixtures
