Three-Bedroom Residential Income
New
For Sale
$1,199,000
203 W 112th Street CE, New York City, NY 10026
Renovated condominium with private and shared outdoor spaces, updated kitchen, storage, and access to building amenities.
Property Size1,546 SF
Price / SF$773.55
Days on Market5
Property Features for 203 W 112th Street CE
General Information
Standard status
Active
Size
1,546 SF
Property subtype
Apartment
Units
Unit Mix
1 x 3BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,860
Amenities
shared courtyard
covered dining patio
irrigation system
lighting
part-time doorman
common roof deck
storage cage
bicycle storage
pet-friendly
Building Details
Building Size
1,546 SF
Year Built
1896
Listing Agency:
Compass
Listed By:
Patricia A Goodwin
(917) 386-8431
Source:
Serhant
Added: Sep 14
Changed: Sep 16
Last Checked: Sep 16 at 2:44PM
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 three-bedroom condominium offers approximately 1,550 square feet of interior space and 630 square feet outdoors. The residence includes a spacious living room with exposed brick, hardwood flooring, detailed window moldings, and an east-facing glass block wall. Its renovated eat-in kitchen features a 5-burner Samsung gas range, wall-mounted microwave, stainless steel Frigidaire dishwasher and refrigerator, double sink, marble-topped island, and stacked washer and dryer. The layout can accommodate three bedrooms and two bathrooms, subject to the alternate floor plan.
Outdoor areas include a private patio garden and access to a shared courtyard reserved for the two garden apartments. The courtyard has planted open-air space, irrigation, lighting, and a covered dining patio. The boutique 13-unit condominium includes a terracotta and marble lobby, part-time doorman, common roof deck, bicycle storage, and a transferable storage cage. The building is two blocks from Central Park and near the 2/3/B/C subway lines, Restaurant Row, Morningside Park, Whole Foods, Columbia, and several bus lines.
Outdoor areas include a private patio garden and access to a shared courtyard reserved for the two garden apartments. The courtyard has planted open-air space, irrigation, lighting, and a covered dining patio. The boutique 13-unit condominium includes a terracotta and marble lobby, part-time doorman, common roof deck, bicycle storage, and a transferable storage cage. The building is two blocks from Central Park and near the 2/3/B/C subway lines, Restaurant Row, Morningside Park, Whole Foods, Columbia, and several bus lines.
Key Highlights
- Approximately 1,550 sf of interior space plus 630 sf outdoors
- Private patio garden and co‑exclusive use of a planted shared courtyard
- Renovated kitchen with 5‑burner Samsung gas range and marble‑topped island
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
$48,495
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
4.04%
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%
$969,900
$969.9K
Cap Rate 7%
$692,786
$692.8K
Cap Rate 9%
$538,833
$538.8K
Market Conditions
NOI Build-Up for 1,550 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
$92.8K $59.88/SF
− Vacancy
−$4.6K −$2.99/SF
EGI
$88.2K $56.89/SF
− OpEx
−$39.7K −$25.60/SF
NOI
$48.5K $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%
$969,900
Cap Rate 7%
$692,786
Cap Rate 9%
$538,833
Alternative Uses
Best Use
Apartment 5plus
$692.8K
$606.2K – $808.3K
NOI $48,495 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.86M
$3.38M – $4.50M
NOI $270,072 @ 7.0% cap · market cap 22.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
8,389
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated condominium with private and shared outdoor spaces, updated kitchen, storage, and access to building amenities.
Where is this residential income property located?
The property is located at 203 W 112th Street CE New York City, NY.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Approximately 1,550 sf of interior space plus 630 sf outdoors; Private patio garden and co‑exclusive use of a planted shared courtyard; Renovated kitchen with 5‑burner Samsung gas range and marble‑topped island
