Residential Income Property with
For Sale
$475,000
330 E 109th Street 2C, New York City, NY 10029
One-bedroom condominium with hardwood floors, high ceilings, and a private outdoor terrace in a boutique elevator building.
Property Size638 SF
Price / SF$744.51
Days on Market153
Property Features for 330 E 109th Street 2C
General Information
Standard status
Active
Size
638 SF
Property subtype
Apartment
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$8,904
Amenities
lobby
fitness center
bike room
rooftop deck
courtyard garden
lounge furniture
video intercom
washer/dryer
private terrace
Building Details
Building Size
638 SF
Year Built
2007
Stories
8
Construction
cubist-inspired
Listing Agency:
Bizzarro Agency LLC
(917) 979-2259
Listed By:
Matthew J Bizzarro
(917) 979-2259
Source:
Miradorrealestate
Added: Mar 26
Changed: Aug 23
Last Checked: Aug 24 at 3:19PM
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 Bizzarro Agency LLC
Investment Insights
Based on property information with market context.
This 638-square-foot condominium occupies the second floor of The Aura, an eight-story building completed in 2007. The one-bedroom layout includes a combined living, dining, and kitchen area, hardwood flooring, high ceilings, large windows, and a private terrace facing 109th Street. The kitchen is appointed with stainless steel appliances, quartz countertops, a dishwasher, cabinetry, and a dining island. Additional interior features include a walk-in pantry or closet, a designer bathroom with double sink, tub and shower, and an in-unit Bosch washer and dryer.
Building amenities include a fitness center, bike room, rooftop deck, landscaped courtyard, contemporary lobby, and video intercom. The pet-friendly property is positioned between 1st and 2nd Avenue in East Harlem, a few blocks from Thomas Jefferson Park and near the 6 train, restaurants, bakeries, and bars.
Building amenities include a fitness center, bike room, rooftop deck, landscaped courtyard, contemporary lobby, and video intercom. The pet-friendly property is positioned between 1st and 2nd Avenue in East Harlem, a few blocks from Thomas Jefferson Park and near the 6 train, restaurants, bakeries, and bars.
Key Highlights
- 638‑square‑foot one‑bedroom condominium
- Private terrace overlooking 109th Street
- The Aura is an eight‑story building completed in 2007
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
$24,330
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
5.12%
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%
$486,600
$486.6K
Cap Rate 7%
$347,571
$347.6K
Cap Rate 9%
$270,333
$270.3K
Market Conditions
NOI Build-Up for 638 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
$45.9K $72.00/SF
− Vacancy
−$1.7K −$2.66/SF
EGI
$44.2K $69.34/SF
− OpEx
−$19.9K −$31.20/SF
NOI
$24.3K $38.13/SF
Area
ZIP 10029
Vacancy
3.70%
Lease Rate
$72.00 /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%
$486,600
Cap Rate 7%
$347,571
Cap Rate 9%
$270,333
Alternative Uses
Best Use
Apartment 5plus
$347.6K
$304.1K – $405.5K
NOI $24,330 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.28M
$1.99M – $2.66M
NOI $159,341 @ 7.0% cap · market cap 33.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6,880
Businesses Nearby
Explore this area
Business Placement
Demographics for 10029, NY
78,141
Population
36,955
Households
2.1
Avg Household Size
36
Median Age
36%
College-Educated
78%
High-School Grad
1.2 sq mi
ZIP Area
65,118
Density / Sq Mi
$38,308
Median Household Income
$41,951
Median Earnings
$1,183
Median Rent
$818,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condominium with hardwood floors, high ceilings, and a private outdoor terrace in a boutique elevator building.
Where is this residential income property located?
The property is located at 330 E 109th Street 2C New York City, NY.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 638‑square‑foot one‑bedroom condominium; Private terrace overlooking 109th Street; The Aura is an eight‑story building completed in 2007
