Two-Bedroom Residential Income
For Sale
$525,000
303 W 149th Street 2F, New York City, NY 10039
Condo residence with exposed brick, hardwood floors, in-building laundry, and a tenant lease extending through February 2027.
Property Size700 SF
Price / SF$750
Days on Market151
Property Features for 303 W 149th Street 2F
General Information
Standard status
Active
Size
700 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$132
Building Details
Building Size
700 SF
Year Built
1910
Listing Agency:
Compass
(917) 975-0619
Listed By:
Emily Mencke
(917) 975-0619
Source:
Howardhannanyc
Added: Mar 16
Changed: Aug 13
Last Checked: Aug 13 at 5:31AM
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 700-square-foot condominium, built in 1910, offers a two-bedroom layout with exposed brick, hardwood flooring, abundant natural light, and tree-lined outlooks. The primary bedroom includes dual closets, while the kitchen provides substantial counter space, full-sized appliances, and a dishwasher. An oversized bathroom features a deep soaking tub. The boutique condominium includes an on-site laundry room with free machines for residents and permits pets.
A tenant is in place through February 2027, providing an existing occupancy arrangement for an owner-user or investor. The property is near Jackie Robinson Park and within a few blocks of the ABCD and 3 subway lines, with shopping and coffee shops nearby.
A tenant is in place through February 2027, providing an existing occupancy arrangement for an owner-user or investor. The property is near Jackie Robinson Park and within a few blocks of the ABCD and 3 subway lines, with shopping and coffee shops nearby.
Key Highlights
- 700 SF two‑bedroom condominium in a 1910 building
- Tenant in place through February 2027
- Exposed brick, hardwood floors, and tree‑lined window views
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
$21,901
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
4.17%
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%
$438,020
$438.0K
Cap Rate 7%
$312,871
$312.9K
Cap Rate 9%
$243,344
$243.3K
Market Conditions
NOI Build-Up for 700 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
$41.9K $59.88/SF
− Vacancy
−$2.1K −$2.99/SF
EGI
$39.8K $56.89/SF
− OpEx
−$17.9K −$25.60/SF
NOI
$21.9K $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%
$438,020
Cap Rate 7%
$312,871
Cap Rate 9%
$243,344
Alternative Uses
Best Use
Apartment 5plus
$312.9K
$273.8K – $365.0K
NOI $21,901 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.74M
$1.52M – $2.03M
NOI $121,968 @ 7.0% cap · market cap 23.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,845
Businesses Nearby
Explore this area
Business Placement
Demographics for 10039, NY
29,239
Population
13,300
Households
2.2
Avg Household Size
37
Median Age
27%
College-Educated
81%
High-School Grad
0.3 sq mi
ZIP Area
97,463
Density / Sq Mi
$48,792
Median Household Income
$36,142
Median Earnings
$1,211
Median Rent
$478,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condo residence with exposed brick, hardwood floors, in-building laundry, and a tenant lease extending through February 2027.
Where is this residential income property located?
The property is located at 303 W 149th Street 2F New York City, NY.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 700 SF two‑bedroom condominium in a 1910 building; Tenant in place through February 2027; Exposed brick, hardwood floors, and tree‑lined window views
