Residential Income Property with Studio
For Sale
$399,000
353 E 104TH Street 7E, New York City, NY 10029
Bright studio unit with in-unit Bosch washer and dryer and GE stainless appliances in a LEED-registered building.
Property Size425 SF
Price / SF$938.82
Days on Market20
Property Features for 353 E 104TH Street 7E
General Information
Standard status
Active
Size
425 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
part-time doorman
live-in superintendent
private storage bin
fitness center
landscaped rooftop deck
in-unit washer/dryer
cable and internet included
GE stainless steel appliances
dishwasher
Building Details
Building Size
425 SF
Year Built
2007
Listing Agency:
Christies International Real Estate Group LLC
(917) 325-8147
Listed By:
Virginia Sabio
(917) 325-8147
Source:
Bondnyre
Added: Jul 22
Changed: Aug 10
Last Checked: Aug 10 at 9:41AM
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 Christies International Real Estate Group LLC
Investment Insights
Based on property information with market context.
Well-suited for tenants seeking a comfortable, light-filled layout, this studio unit features a high beamed ceiling and a dramatic wall of windows. The unit includes three closets for storage, a kitchen area with GE stainless steel appliances, a dishwasher, and a sleek glass tile backsplash, plus a modern bathroom with Kohler fixtures. Convenience is built in with an in-unit Bosch washer and dryer, and cable and internet included.
Set within the Observatory Place condominium building, residents can use a part-time doorman, a live-in superintendent, a private storage bin, a fitness center, and a landscaped rooftop deck with panoramic city and river views. The building is LEED-registered and was built in 2007-2008.
The property is identified as 353 E 104th Street apt 7E, with a listed size of 425.
Set within the Observatory Place condominium building, residents can use a part-time doorman, a live-in superintendent, a private storage bin, a fitness center, and a landscaped rooftop deck with panoramic city and river views. The building is LEED-registered and was built in 2007-2008.
The property is identified as 353 E 104th Street apt 7E, with a listed size of 425.
Key Highlights
- Studio unit with high beamed ceiling and a wall of windows
- In‑unit Bosch washer and dryer plus cable and internet included
- GE stainless steel appliances, dishwasher, and glass tile backsplash
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
$16,207
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
4.06%
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%
$324,140
$324.1K
Cap Rate 7%
$231,529
$231.5K
Cap Rate 9%
$180,078
$180.1K
Market Conditions
NOI Build-Up for 425 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
$30.6K $72.00/SF
− Vacancy
−$1.1K −$2.66/SF
EGI
$29.5K $69.34/SF
− OpEx
−$13.3K −$31.20/SF
NOI
$16.2K $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%
$324,140
Cap Rate 7%
$231,529
Cap Rate 9%
$180,078
Alternative Uses
Best Use
Apartment 5plus
$231.5K
$202.6K – $270.1K
NOI $16,207 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.52M
$1.33M – $1.77M
NOI $106,144 @ 7.0% cap · market cap 26.60%
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
6,535
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 - Bright studio unit with in-unit Bosch washer and dryer and GE stainless appliances in a LEED-registered building.
Where is this residential income property located?
The property is located at 353 E 104TH Street 7E New York City, NY.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Studio unit with high beamed ceiling and a wall of windows; In‑unit Bosch washer and dryer plus cable and internet included; GE stainless steel appliances, dishwasher, and glass tile backsplash
