Tenant-Occupied Residential Income
For Sale
$830,000
220 W 111th Street 6A, New York City, NY 10026
Two-bedroom, two-bath condominium with a windowed open kitchen, en-suite bathrooms, and shared roof terrace access.
Property Size785 SF
Price / SF$1,057
Days on Market8
Property Features for 220 W 111th Street 6A
General Information
Standard status
Active
Size
785 SF
Property subtype
Apartment
Occupancy
100%
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,524
Amenities
roof terrace
Building Details
Building Size
785 SF
Year Built
1900
Tenancy
Single
Listing Agency:
Hauseit LLC
Listed By:
Vivian Bordon
(917) 494-1779
Source:
Nobleblackandpartners
Added: Aug 27
Changed: Aug 31
Last Checked: Sep 2 at 12:53AM
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 Hauseit LLC
Investment Insights
Based on property information with market context.
This tenant-occupied residential income property is a two-bedroom, two-bath pre-war condominium in a building constructed in 1900. The residence offers north and south exposures, nine-foot ceilings, hardwood flooring, and bedrooms with en-suite bathrooms. Its windowed open kitchen includes black granite counters, tiled backsplash, stainless-steel appliances, dishwasher, and microwave. A roof terrace with open rooftop views is located a short flight above the apartment.
The property is at 220 W 111th Street, New York City, NY 10026, one block from Central Park in South Harlem. The surrounding area includes multiple subway lines, Columbia University, restaurants, lounges, markets, and cafes.
The property is at 220 W 111th Street, New York City, NY 10026, one block from Central Park in South Harlem. The surrounding area includes multiple subway lines, Columbia University, restaurants, lounges, markets, and cafes.
Key Highlights
- Tenant‑occupied two‑bedroom, two‑bath condominium
- Pre‑war building constructed in 1900
- Windowed open kitchen with black granite counters and stainless‑steel appliances
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
$24,561
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
2.96%
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%
$491,220
$491.2K
Cap Rate 7%
$350,871
$350.9K
Cap Rate 9%
$272,900
$272.9K
Market Conditions
NOI Build-Up for 785 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
$47.0K $59.88/SF
− Vacancy
−$2.4K −$2.99/SF
EGI
$44.7K $56.89/SF
− OpEx
−$20.1K −$25.60/SF
NOI
$24.6K $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%
$491,220
Cap Rate 7%
$350,871
Cap Rate 9%
$272,900
Alternative Uses
Best Use
Apartment 5plus
$350.9K
$307.0K – $409.4K
NOI $24,561 @ 7.0% cap · market cap 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.95M
$1.71M – $2.28M
NOI $136,778 @ 7.0% cap · market cap 16.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
100%
Occupancy
Single-tenant
Tenancy
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, two-bath condominium with a windowed open kitchen, en-suite bathrooms, and shared roof terrace access.
Where is this residential income property located?
The property is located at 220 W 111th Street 6A New York City, NY.
What is the asking price?
The asking price for this property is $830,000.
What are key features of this property?
This property features: Tenant‑occupied two‑bedroom, two‑bath condominium; Pre‑war building constructed in 1900; Windowed open kitchen with black granite counters and stainless‑steel appliances
