One-Bedroom Residential Income
For Sale
$465,000
Pending
249 E 118th Street 3B, New York City, NY 10035
Condominium residence with a Juliet balcony, custom kitchen, and in-unit laundry.
Property Size565 SF
Days on Market86
Property Features for 249 E 118th Street 3B
General Information
Standard status
Pending
Size
565 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$372
Amenities
Juliet balcony
solid maple hardwood floors
oversized double-pane windows
recessed lighting
custom cabinetry
Quartz countertops
tiled backsplash
GE Profile stainless steel appliances
in-unit washer/dryer
marble bathroom
deep soaking tub
dedicated HVAC
Building Details
Building Size
565 SF
Year Built
2006
Listing Agency:
Compass
Listed By:
Mitchell H Simmons
(917) 531-5193
Source:
Miradorrealestate
Added: Jul 15
Changed: Oct 7
Last Checked: Oct 7 at 4:25PM
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 565-square-foot condominium residence offers one bedroom, one bathroom, and a Juliet balcony. The interior includes solid maple hardwood floors, oversized double-pane windows, recessed lighting, and a dedicated heating, air conditioning, and hot water system. The open pass-through kitchen is finished with custom cabinetry, Quartz Caesarstone countertops, a tiled backsplash, GE Profile stainless steel appliances, and a Moen faucet. An in-unit GE stackable washer and dryer adds convenience. The bathroom features marble floors, tiled walls with marble trim, a deep soaking tub, and American Standard fixtures, along with a custom marble-topped vanity.
Built in 2006, The Ivy Condominium is near multiple subway lines, the crosstown bus, and the Second Avenue bus. The residence is also close to shopping, dining, and neighborhood conveniences in the Upper East Side and Harlem. Real estate taxes benefit from a 421-a tax abatement in effect until 2033.
Built in 2006, The Ivy Condominium is near multiple subway lines, the crosstown bus, and the Second Avenue bus. The residence is also close to shopping, dining, and neighborhood conveniences in the Upper East Side and Harlem. Real estate taxes benefit from a 421-a tax abatement in effect until 2033.
Key Highlights
- 565‑square‑foot condominium residence with 1 bedroom and 1 bathroom
- Juliet balcony with tree‑lined views
- Solid maple hardwood floors and oversized double‑pane windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,677
Cap Rate
3.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$353,540
$353.5K
Cap Rate 7%
$252,529
$252.5K
Cap Rate 9%
$196,411
$196.4K
Market Conditions
NOI Build-Up for 565 SF
Gross rent
$33.8K $59.88/SF
− Vacancy
−$1.7K −$2.99/SF
EGI
$32.1K $56.89/SF
− OpEx
−$14.5K −$25.60/SF
NOI
$17.7K $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%
$353,540
Cap Rate 7%
$252,529
Cap Rate 9%
$196,411
Alternative Uses
Best Use
Apartment 5plus
$252.5K
$221.0K – $294.6K
NOI $17,677 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.41M
$1.23M – $1.64M
NOI $98,446 @ 7.0% cap · market cap 21.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with a Juliet balcony, custom kitchen, and in-unit laundry.
Where is this residential income property located?
The property is located at 249 E 118th Street 3B New York City, NY.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: 565‑square‑foot condominium residence with 1 bedroom and 1 bathroom; Juliet balcony with tree‑lined views; Solid maple hardwood floors and oversized double‑pane windows
