Residential Income Property with
For Sale
$975,000
310 W 120TH Street 5C, New York City, NY 10026
Two-bedroom residence with renovated kitchen, private outdoor space, extensive storage, and full-service condominium amenities.
Property Size1,010 SF
Price / SF$965.35
Days on Market8
Property Features for 310 W 120TH Street 5C
General Information
Standard status
Active
Size
1,010 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
doorman
live-in super
package room
bike room
storage lockers/cages
gym
playroom
shared courtyard
private balcony
Building Details
Building Size
1,010 SF
Year Built
2006
Listing Agency:
Brown Harris Stevens Residential Sales LLC
Listed By:
Ashley Jeudy
(212) 381-2241
Source:
Carlinwright
Added: Sep 17
Changed: Sep 19
Last Checked: Sep 22 at 8:37PM
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 Brown Harris Stevens Residential Sales LLC
Investment Insights
Based on property information with market context.
This 1,010-square-foot condominium residence includes two bedrooms, two bathrooms, a south-facing living and dining area, and a private balcony overlooking the courtyard. The home features recessed lighting, three storage closets in the entry hall, and a renovated galley kitchen with black marble countertops, tile backsplash, stainless steel appliances, and a Bosch dishwasher. The primary suite has two closets and an en-suite bathroom with a double vanity and rainfall shower, while the second bedroom includes a large closet and access to a second bathroom with a soaking tub.
Built in 2006, the full-service, accessible building provides a full-time doorman, live-in superintendent, secure package room, elevator, on-site parking garage, bike room, private storage lockers or cages, resident gym, playroom, and shared courtyard. The property is located in South Harlem at 310 W 120TH Street, New York City, NY 10026.
Built in 2006, the full-service, accessible building provides a full-time doorman, live-in superintendent, secure package room, elevator, on-site parking garage, bike room, private storage lockers or cages, resident gym, playroom, and shared courtyard. The property is located in South Harlem at 310 W 120TH Street, New York City, NY 10026.
Key Highlights
- 1,010‑square‑foot condominium residence
- Two bedrooms and two bathrooms
- Private balcony with courtyard outlook
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
$31,600
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
3.24%
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%
$632,000
$632.0K
Cap Rate 7%
$451,429
$451.4K
Cap Rate 9%
$351,111
$351.1K
Market Conditions
NOI Build-Up for 1,010 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
$60.5K $59.88/SF
− Vacancy
−$3.0K −$2.99/SF
EGI
$57.5K $56.89/SF
− OpEx
−$25.9K −$25.60/SF
NOI
$31.6K $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%
$632,000
Cap Rate 7%
$451,429
Cap Rate 9%
$351,111
Alternative Uses
Best Use
Apartment 5plus
$451.4K
$395.0K – $526.7K
NOI $31,600 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.51M
$2.20M – $2.93M
NOI $175,982 @ 7.0% cap · market cap 18.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,598
Businesses Nearby
Explore this area
Business Placement
Demographics for 10026, NY
35,644
Population
17,648
Households
2
Avg Household Size
37
Median Age
54%
College-Educated
90%
High-School Grad
0.4 sq mi
ZIP Area
89,110
Density / Sq Mi
$74,140
Median Household Income
$56,919
Median Earnings
$1,546
Median Rent
$1,014,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom residence with renovated kitchen, private outdoor space, extensive storage, and full-service condominium amenities.
Where is this residential income property located?
The property is located at 310 W 120TH Street 5C New York City, NY.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 1,010‑square‑foot condominium residence; Two bedrooms and two bathrooms; Private balcony with courtyard outlook
