One-Bedroom Residential Income
For Sale
$830,000
2280 Frederick Douglass Boulevard 6A, New York City, NY 10027
Tenant-occupied apartment with a private balcony, dedicated bedroom wing, and full-service building amenities.
Property Size775 SF
Price / SF$1,070
Days on Market123
Property Features for 2280 Frederick Douglass Boulevard 6A
General Information
Standard status
Active
Size
775 SF
Property subtype
Apartment
Units
Unit Mix
1 x one bedroom
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,116
Amenities
private balcony
in-unit laundry
stainless steel appliances
24-hour doorman
live-in superintendent
terrace patio
Building Details
Building Size
775 SF
Year Built
2010
Tenancy
Single
Listing Agency:
Compass
(347) 768-0072
Listed By:
Melanie A Metzler
(347) 768-0072
Source:
Nobleblackandpartners
Added: Apr 10
Changed: Aug 5
Last Checked: Aug 10 at 9:41AM
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 775-square-foot, one-bedroom residential income property is located in a 2010-built building and includes private outdoor space with open eastern views. The interior features an alcove kitchen, stainless steel appliances, a spacious living and dining area, a separate bedroom and bathroom wing, generous closet storage, and a laundry closet with stacked washer and dryer. The bathroom includes a separate tub and rain shower, while the kitchen has a new refrigerator.
The building provides a 24-hour doorman, live-in superintendent, and a shared terrace patio with seating and a play area. The apartment is leased through July 2027, and the property has ten years remaining on its tax abatement. Its Harlem setting is near parks, trains, AMC Theater, Whole Foods, Trader Joe’s, The Lincoln Market, the Apollo Theater, and neighborhood dining and nightlife.
The building provides a 24-hour doorman, live-in superintendent, and a shared terrace patio with seating and a play area. The apartment is leased through July 2027, and the property has ten years remaining on its tax abatement. Its Harlem setting is near parks, trains, AMC Theater, Whole Foods, Trader Joe’s, The Lincoln Market, the Apollo Theater, and neighborhood dining and nightlife.
Key Highlights
- 775 SF one‑bedroom apartment with private balcony and open eastern views
- Tenant in place through July 2027
- 2010‑built building with 24‑hour doorman and live‑in superintendent
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
$24,248
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
2.92%
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%
$484,960
$485.0K
Cap Rate 7%
$346,400
$346.4K
Cap Rate 9%
$269,422
$269.4K
Market Conditions
NOI Build-Up for 775 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
$46.4K $59.88/SF
− Vacancy
−$2.3K −$2.99/SF
EGI
$44.1K $56.89/SF
− OpEx
−$19.8K −$25.60/SF
NOI
$24.2K $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%
$484,960
Cap Rate 7%
$346,400
Cap Rate 9%
$269,422
Alternative Uses
Best Use
Apartment 5plus
$346.4K
$303.1K – $404.1K
NOI $24,248 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.93M
$1.69M – $2.25M
NOI $135,036 @ 7.0% cap · market cap 16.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
9,915
Businesses Nearby
Explore this area
Business Placement
Demographics for 10027, NY
64,037
Population
28,038
Households
2.3
Avg Household Size
32
Median Age
52%
College-Educated
87%
High-School Grad
0.9 sq mi
ZIP Area
71,152
Density / Sq Mi
$64,220
Median Household Income
$44,231
Median Earnings
$1,609
Median Rent
$915,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Tenant-occupied apartment with a private balcony, dedicated bedroom wing, and full-service building amenities.
Where is this residential income property located?
The property is located at 2280 Frederick Douglass Boulevard 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: 775 SF one‑bedroom apartment with private balcony and open eastern views; Tenant in place through July 2027; 2010‑built building with 24‑hour doorman and live‑in superintendent
