Two-Bedroom Residential Income
For Sale
$750,000
249 E 118th Street 2-D, New York City, NY 10035
Condominium residence with two full baths and in-unit laundry.
Property Size927 SF
Days on Market203
Property Features for 249 E 118th Street 2-D
General Information
Standard status
Active
Size
927 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$618
Amenities
fitness center
virtual doorman
washer/dryer
Building Details
Building Size
927 SF
Year Built
2007
Listing Agency:
Trump International Realty New York
(212) 247-7100
Listed By:
Nitza Shafrir
(212) 247-7100
Source:
Serhant
Added: Feb 3
Changed: Aug 25
Last Checked: Aug 24 at 12:38PM
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 Trump International Realty New York
Investment Insights
Based on property information with market context.
This condominium residence features two bedrooms, two full baths, and hardwood flooring throughout. South- and east-facing windows bring natural light into the home, while the kitchen is equipped with GE Profile appliances and custom quartz Caesarstone countertops. The primary bedroom includes corner windows and an ensuite bath with honey onyx marble finishes. A vented GE washer and dryer is located within the apartment.
The Ivy Condo includes a fitness center and virtual doorman. The property is a few blocks from the 6 train and near shopping and local restaurants. Approximately 7 years remain on the 25-year tax abatement.
The Ivy Condo includes a fitness center and virtual doorman. The property is a few blocks from the 6 train and near shopping and local restaurants. Approximately 7 years remain on the 25-year tax abatement.
Key Highlights
- Two‑bedroom residence with two full baths
- South- and east‑facing windows with corner windows in the primary bedroom
- Hardwood floors throughout the apartment
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
$29,003
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
3.87%
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%
$580,060
$580.1K
Cap Rate 7%
$414,329
$414.3K
Cap Rate 9%
$322,256
$322.3K
Market Conditions
NOI Build-Up for 927 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
$55.5K $59.88/SF
− Vacancy
−$2.8K −$2.99/SF
EGI
$52.7K $56.89/SF
− OpEx
−$23.7K −$25.60/SF
NOI
$29.0K $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%
$580,060
Cap Rate 7%
$414,329
Cap Rate 9%
$322,256
Alternative Uses
Best Use
Apartment 5plus
$414.3K
$362.5K – $483.4K
NOI $29,003 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.31M
$2.02M – $2.69M
NOI $161,520 @ 7.0% cap · market cap 21.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
6,680
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with two full baths and in-unit laundry.
Where is this residential income property located?
The property is located at 249 E 118th Street 2-D New York City, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two‑bedroom residence with two full baths; South- and east‑facing windows with corner windows in the primary bedroom; Hardwood floors throughout the apartment
