Four-Story Duplex
New
For Sale
$2,500,000
318 E 120TH St, New York, NY 10035
Two-family brownstone with five bedrooms, private outdoor areas, and a renovated-style kitchen with direct courtyard access.
Property Size3,800 SF
Price / SF$649.35
Days on Market6
Property Features for 318 E 120TH St
General Information
Standard status
Active
Size
3,800 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,792
Amenities
fireplace
courtyard
private terrace
backyard
built-ins
chef's kitchen with island
washer + dryer
Building Details
Building Size
3,800 SF
Year Built
1899
Buildings
1
Stories
4
Units
2
Construction
brownstone
Listing Agency:
Corcoran Group
(917) 951-9941
Listed By:
Jeffrey Edelson
(917) 951-9941
Source:
Elliman
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 19 at 11:29AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
This four-story duplex brownstone at 318 E 120th St provides 3,850 square feet across a two-family layout with five bedrooms. Interior features include high ceilings, hardwood flooring, built-in shelving, a fireplace, and rooms with north and south exposures. The kitchen includes an island, stove, and washer and dryer, with doors leading directly to the courtyard.
Outdoor areas include a private terrace and a tree-lined backyard surrounded by greenery. The property is in East Harlem and records a Walk Score of 96, Transit Score of 100, and Bike Score of 83. Constructed in 1899, the building offers a distinctive residential configuration with substantial interior space and multiple outdoor areas.
Outdoor areas include a private terrace and a tree-lined backyard surrounded by greenery. The property is in East Harlem and records a Walk Score of 96, Transit Score of 100, and Bike Score of 83. Constructed in 1899, the building offers a distinctive residential configuration with substantial interior space and multiple outdoor areas.
Key Highlights
- 3,850 square feet in a four‑floor, two‑family brownstone
- Five bedrooms with flexible room configuration
- Private terrace and backyard with courtyard access
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
$130,298
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
5.21%
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%
$2,605,960
$2.6M
Cap Rate 7%
$1,861,400
$1.9M
Cap Rate 9%
$1,447,756
$1.4M
Market Conditions
NOI Build-Up for 3,850 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
$196.4K $51.00/SF
− Vacancy
−$10.2K −$2.65/SF
EGI
$186.1K $48.35/SF
− OpEx
−$55.8K −$14.50/SF
NOI
$130.3K $33.84/SF
Area
New York, NY
Vacancy
5.20%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,605,960
Cap Rate 7%
$1,861,400
Cap Rate 9%
$1,447,756
Alternative Uses
Best Use
Multifamily LT 5
$1.86M
$1.63M – $2.17M
NOI $130,298 @ 7.0% cap · market cap 5.21%
Second Best
Apartment 5plus
$1.72M
$1.51M – $2.01M
NOI $120,456 @ 7.0% cap · market cap 4.82%
Theoretical Best
Specialty Retail
$9.58M
$8.39M – $11.18M
NOI $670,824 @ 7.0% cap · market cap 26.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,598
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family brownstone with five bedrooms, private outdoor areas, and a renovated-style kitchen with direct courtyard access.
Where is this duplex located?
The property is located at 318 E 120TH St New York, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 3,850 square feet in a four‑floor, two‑family brownstone; Five bedrooms with flexible room configuration; Private terrace and backyard with courtyard access
