Residential Income Property with Roof
For Sale
$675,000
220 W 111th Street 3C, New York City, NY 10026
Renovated two-bedroom condominium with natural light, updated finishes, and access to extensive building amenities.
Property Size647 SF
Price / SF$1,043
Days on Market11
Property Features for 220 W 111th Street 3C
General Information
Standard status
Active
Size
647 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$5,469
Building Details
Building Size
647 SF
Year Built
1910
Listing Agency:
Compass
Listed By:
Michelle Flikerski
(917) 671-6343
Source:
Nobleblackandpartners
Added: Sep 8
Changed: Sep 14
Last Checked: Sep 17 at 4:00AM
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.
Residence 3C is a renovated two-bedroom condominium in a restored pre-war building. The 647-square-foot interior includes hardwood flooring, southern exposure, a living room with a large window, two bedrooms with custom closets, and a foyer-positioned bathroom with a soaking tub. The kitchen has stone counters, under-cabinet lighting, subway tile, full-size stainless steel appliances, and a new dishwasher. A storage closet adds practical utility.
The Park Central Condominium provides an updated elevator, video intercom security, high-speed cable and internet wiring, new laundry facilities, bicycle storage, and a furnished roof deck with skyline views. The pet-friendly property was built in 1910 and is located one block from Central Park and one block from Morningside Park. Columbia University and the 2, 3, B, and C subway lines are also nearby.
The Park Central Condominium provides an updated elevator, video intercom security, high-speed cable and internet wiring, new laundry facilities, bicycle storage, and a furnished roof deck with skyline views. The pet-friendly property was built in 1910 and is located one block from Central Park and one block from Morningside Park. Columbia University and the 2, 3, B, and C subway lines are also nearby.
Key Highlights
- 647 SF two‑bedroom condominium residence
- Renovated kitchen with stone countertops and full‑size stainless steel appliances
- Two bedrooms with custom closets and two large windows each
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
$20,243
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
3.00%
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%
$404,860
$404.9K
Cap Rate 7%
$289,186
$289.2K
Cap Rate 9%
$224,922
$224.9K
Market Conditions
NOI Build-Up for 647 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
$38.7K $59.88/SF
− Vacancy
−$1.9K −$2.99/SF
EGI
$36.8K $56.89/SF
− OpEx
−$16.6K −$25.60/SF
NOI
$20.2K $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%
$404,860
Cap Rate 7%
$289,186
Cap Rate 9%
$224,922
Alternative Uses
Best Use
Apartment 5plus
$289.2K
$253.0K – $337.4K
NOI $20,243 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.61M
$1.41M – $1.88M
NOI $112,733 @ 7.0% cap · market cap 16.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
8,482
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 two-bedroom condominium with natural light, updated finishes, and access to extensive building amenities.
Where is this residential income property located?
The property is located at 220 W 111th Street 3C New York City, NY.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 647 SF two‑bedroom condominium residence; Renovated kitchen with stone countertops and full‑size stainless steel appliances; Two bedrooms with custom closets and two large windows each
