Renovated One-Bedroom Residential
For Sale
$650,000
26 W 97th Street 4-D, New York City, NY 10025
Updated condominium with an open kitchen, pre-war details, dedicated storage, and access to shared outdoor amenities.
Property Size650 SF
Price / SF$1,000
Days on Market34
Property Features for 26 W 97th Street 4-D
General Information
Standard status
Active
Size
650 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,174
Amenities
laundry facilities
shared outdoor space
dedicated storage
Building Details
Building Size
650 SF
Year Built
1900
Listing Agency:
R New York
(516) 457-9957
Listed By:
Elan Hadar
(516) 457-9957
Source:
Miradorrealestate
Added: Jul 22
Changed: Aug 23
Last Checked: Aug 24 at 1:53PM
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 R New York
Investment Insights
Based on property information with market context.
Apartment 4-D is a one-bedroom condominium in a 1900 pre-war building at 26 W 97th Street. The 650-square-foot residence features a gut-renovated, windowed kitchen connected to the living room, exposed brick, high ceilings, and other period details. Two window air-conditioning units are installed, and dedicated building storage is included.
Building amenities include laundry facilities and a shared outdoor area furnished with couches and a grill. Central Park, including tennis courts and the North Meadow Recreation Center, is nearby. Whole Foods is approximately half a block away, Trader Joe’s is approximately three blocks away, and Columbus Square provides additional shops, restaurants, and services. The B and C subway lines are steps away, while the 1, 2, and 3 trains are a few blocks from the property.
Building amenities include laundry facilities and a shared outdoor area furnished with couches and a grill. Central Park, including tennis courts and the North Meadow Recreation Center, is nearby. Whole Foods is approximately half a block away, Trader Joe’s is approximately three blocks away, and Columbus Square provides additional shops, restaurants, and services. The B and C subway lines are steps away, while the 1, 2, and 3 trains are a few blocks from the property.
Key Highlights
- 650‑square‑foot one‑bedroom condominium in a 1900 pre‑war building
- Gut‑renovated windowed kitchen opens into the living room
- Exposed brick, high ceilings, and preserved pre‑war details
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
$21,396
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
3.29%
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%
$427,920
$427.9K
Cap Rate 7%
$305,657
$305.7K
Cap Rate 9%
$237,733
$237.7K
Market Conditions
NOI Build-Up for 650 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
$41.0K $63.00/SF
− Vacancy
−$2.0K −$3.15/SF
EGI
$38.9K $59.85/SF
− OpEx
−$17.5K −$26.93/SF
NOI
$21.4K $32.92/SF
Area
ZIP 10025
Vacancy
5.00%
Lease Rate
$63.00 /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%
$427,920
Cap Rate 7%
$305,657
Cap Rate 9%
$237,733
Alternative Uses
Best Use
Apartment 5plus
$305.7K
$267.5K – $356.6K
NOI $21,396 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.57M
$2.25M – $3.00M
NOI $179,712 @ 7.0% cap · market cap 27.65%
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
12,168
Businesses Nearby
Explore this area
Business Placement
Demographics for 10025, NY
95,424
Population
47,649
Households
2
Avg Household Size
41
Median Age
69%
College-Educated
92%
High-School Grad
0.9 sq mi
ZIP Area
106,027
Density / Sq Mi
$109,195
Median Household Income
$64,827
Median Earnings
$2,009
Median Rent
$1,125,200
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 - Updated condominium with an open kitchen, pre-war details, dedicated storage, and access to shared outdoor amenities.
Where is this residential income property located?
The property is located at 26 W 97th Street 4-D New York City, NY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 650‑square‑foot one‑bedroom condominium in a 1900 pre‑war building; Gut‑renovated windowed kitchen opens into the living room; Exposed brick, high ceilings, and preserved pre‑war details
