Renovated Residential Income
For Sale
$575,000
205 E 124th Street 3BC, Manhattan, NY 10035
A two-bedroom, two-bath residence features a flexible layout, updated kitchen and baths, central air, and in-unit laundry.
Property Size1,180 SF
Price / SF$487.29
Days on Market23
Property Features for 205 E 124th Street 3BC
General Information
Standard status
Active
Size
1,180 SF
Property subtype
Apartment
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
decorative fireplace
central air conditioning
in-residence laundry
Building Details
Building Size
1,180 SF
Year Built
1930
Listing Agency:
CORE Group Marketing LLC
Listed By:
Sargis Mosyan
(347) 517-1544
Source:
Howardhannanyc
Added: Oct 13
Changed: Nov 3
Last Checked: Nov 3 at 10:51AM
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 CORE Group Marketing LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This renovated residence offers two bedrooms, two bathrooms, and approximately 1,180 square feet of living space. Two entrances and a layout extending across the building provide distinct living and dining areas, with room to configure a third bedroom, office, or den. The south-facing living room has five windows and a decorative fireplace. The kitchen includes a Carrara island, built-in appliances, a wine refrigerator, and space for a dining table. Both bathrooms have windows; the primary suite includes an en-suite bath and walk-in shower. Hardwood floors, central air conditioning, and an in-residence laundry closet with Bosch washer and dryer complete the home.
The property is at East 124th Street and Third Avenue in East Harlem. Nearby transportation includes the 4/5/6 subway lines, Metro-North, bus routes, and Citi Bike stations, with access to the RFK Triborough Bridge and Harlem River Drive. No HDFC income restriction applies.
The property is at East 124th Street and Third Avenue in East Harlem. Nearby transportation includes the 4/5/6 subway lines, Metro-North, bus routes, and Citi Bike stations, with access to the RFK Triborough Bridge and Harlem River Drive. No HDFC income restriction applies.
Key Highlights
- Approximately 1,180 square feet with two bedrooms, two bathrooms, and two separate entrances
- Flexible living area may accommodate a third bedroom, office, or den
- Kitchen features a Carrara island, built‑in appliances, wine refrigerator, and dining space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,919
Cap Rate
6.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$738,380
$738.4K
Cap Rate 7%
$527,414
$527.4K
Cap Rate 9%
$410,211
$410.2K
Market Conditions
NOI Build-Up for 1,180 SF
Gross rent
$70.7K $59.88/SF
− Vacancy
−$3.5K −$2.99/SF
EGI
$67.1K $56.89/SF
− OpEx
−$30.2K −$25.60/SF
NOI
$36.9K $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 Rate 5%
$738,380
Cap Rate 7%
$527,414
Cap Rate 9%
$410,211
Alternative Uses
Best Use
Apartment 5plus
$527.4K
$461.5K – $615.3K
NOI $36,919 @ 7.0% cap · market cap 6.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.94M
$2.57M – $3.43M
NOI $205,603 @ 7.0% cap · market cap 35.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,949
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
Frequently Asked Questions
What type of property is this?
Residential income property - A two-bedroom, two-bath residence features a flexible layout, updated kitchen and baths, central air, and in-unit laundry.
Where is this residential income property located?
The property is located at 205 E 124th Street 3BC Manhattan, NY.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Approximately 1,180 square feet with two bedrooms, two bathrooms, and two separate entrances; Flexible living area may accommodate a third bedroom, office, or den; Kitchen features a Carrara island, built‑in appliances, wine refrigerator, and dining space
