Residential Income Property with Alcove
For Sale
$549,000
350 E 30TH Street 3F, New York City, NY 10016
Condominium residence offers a windowed kitchen, private sleeping alcove, and dressing-area closet.
Property Size500 SF
Price / SF$1,098
Days on Market33
Property Features for 350 E 30TH Street 3F
General Information
Standard status
Active
Size
500 SF
Elevators
Yes
Property subtype
Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x alcove studio
Multifamily Units
1
Amenities
24-hour doorman
live-in super
central laundry room
impressive lobby
separate storage downstairs
Building Details
Building Size
500 SF
Year Built
1956
Listing Agency:
Douglas Elliman Real Estate
(646) 648-2986
Listed By:
Joseph Peraino
(646) 648-2986
Source:
Carlinwright
Added: Jul 23
Changed: Aug 24
Last Checked: Aug 24 at 2:36PM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
Residence 3F is a renovated 500-square-foot condominium unit configured as an oversized alcove studio. The layout includes a distinct sleeping alcove, windowed kitchen, windowed bathroom, walk-in closet, and dressing area. Updates have been completed throughout the apartment.
The building at 350 E 30TH Street was constructed in 1956 and provides a 24-hour doorman, live-in superintendent, elevator, central laundry room, and lobby. Separate storage is available downstairs, with a garage next door. The property is near Trader Joe’s, Fairway Market, Madison Square Park, Equinox, shops, and restaurants. Access to the Lexington Avenue subway lines, Grand Central Terminal, and the FDR Drive is also nearby.
The building at 350 E 30TH Street was constructed in 1956 and provides a 24-hour doorman, live-in superintendent, elevator, central laundry room, and lobby. Separate storage is available downstairs, with a garage next door. The property is near Trader Joe’s, Fairway Market, Madison Square Park, Equinox, shops, and restaurants. Access to the Lexington Avenue subway lines, Grand Central Terminal, and the FDR Drive is also nearby.
Key Highlights
- 500‑square‑foot renovated alcove studio condominium residence
- Large private sleeping alcove provides distinct separation within the studio layout
- Windowed kitchen and bathroom
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
$15,644
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
2.85%
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%
$312,880
$312.9K
Cap Rate 7%
$223,486
$223.5K
Cap Rate 9%
$173,822
$173.8K
Market Conditions
NOI Build-Up for 500 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
$29.9K $59.88/SF
− Vacancy
−$1.5K −$2.99/SF
EGI
$28.4K $56.89/SF
− OpEx
−$12.8K −$25.60/SF
NOI
$15.6K $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%
$312,880
Cap Rate 7%
$223,486
Cap Rate 9%
$173,822
Alternative Uses
Best Use
Apartment 5plus
$223.5K
$195.6K – $260.7K
NOI $15,644 @ 7.0% cap · market cap 2.85%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.24M
$1.09M – $1.45M
NOI $87,120 @ 7.0% cap · market cap 15.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
57,593
Businesses Nearby
Explore this area
Business Placement
Demographics for 10016, NY
62,336
Population
36,985
Households
1.7
Avg Household Size
34
Median Age
82%
College-Educated
97%
High-School Grad
0.5 sq mi
ZIP Area
124,672
Density / Sq Mi
$153,065
Median Household Income
$107,691
Median Earnings
$3,321
Median Rent
$928,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence offers a windowed kitchen, private sleeping alcove, and dressing-area closet.
Where is this residential income property located?
The property is located at 350 E 30TH Street 3F New York City, NY.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: 500‑square‑foot renovated alcove studio condominium residence; Large private sleeping alcove provides distinct separation within the studio layout; Windowed kitchen and bathroom
