Two-Bedroom Residential Income
For Sale
$725,000
353 E 104th Street 9C, New York City, NY 10029
Open-concept residence with river views, contemporary finishes, and shared rooftop and fitness amenities.
Property Size1,072 SF
Price / SF$676.31
Days on Market88
Property Features for 353 E 104th Street 9C
General Information
Standard status
Active
Size
1,072 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$16,392
Amenities
fitness room
herb garden
rooftop deck
part-time doorman
package room with refrigerated storage
bike room
private storage
in-unit washer-dryer
Building Details
Building Size
1,072 SF
Year Built
2007
Listing Agency:
Compass
(917) 435-6611
Listed By:
Rafael Barbosa
(917) 435-6611
Source:
Miradorrealestate
Added: May 29
Changed: Aug 23
Last Checked: Aug 24 at 1:19PM
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 Compass
Investment Insights
Based on property information with market context.
Residence 9C is a 1,072-square-foot, two-bedroom, two-bathroom home in a 2007-built condominium. The open layout connects the kitchen, dining, and living areas, with a large island, sleek cabinetry, stainless steel appliances, bamboo flooring, high ceilings, and oversized windows. The primary bedroom has an ensuite bathroom, while the second bedroom can serve as a guest room or home office. An in-unit washer-dryer, private storage, and views of the East River and surrounding skyline add to the residence’s functionality.
Building amenities include a fitness room, fifth-floor herb garden, landscaped rooftop deck, part-time doorman, package room with refrigerated storage, and bike room. The property is near Randall's Island, Central Park, and Museum Mile, with cafes, restaurants, supermarkets, public transportation, and other daily conveniences nearby.
Building amenities include a fitness room, fifth-floor herb garden, landscaped rooftop deck, part-time doorman, package room with refrigerated storage, and bike room. The property is near Randall's Island, Central Park, and Museum Mile, with cafes, restaurants, supermarkets, public transportation, and other daily conveniences nearby.
Key Highlights
- 1,072‑square‑foot residence with two bedrooms and two bathrooms
- Open‑concept kitchen, dining, and living areas with generous island
- East River and skyline views through oversized windows
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
$40,881
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
5.64%
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%
$817,620
$817.6K
Cap Rate 7%
$584,014
$584.0K
Cap Rate 9%
$454,233
$454.2K
Market Conditions
NOI Build-Up for 1,072 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
$77.2K $72.00/SF
− Vacancy
−$2.9K −$2.66/SF
EGI
$74.3K $69.34/SF
− OpEx
−$33.4K −$31.20/SF
NOI
$40.9K $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%
$817,620
Cap Rate 7%
$584,014
Cap Rate 9%
$454,233
Alternative Uses
Best Use
Apartment 5plus
$584.0K
$511.0K – $681.4K
NOI $40,881 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.82M
$3.35M – $4.46M
NOI $267,732 @ 7.0% cap · market cap 36.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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 - Open-concept residence with river views, contemporary finishes, and shared rooftop and fitness amenities.
Where is this residential income property located?
The property is located at 353 E 104th Street 9C New York City, NY.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 1,072‑square‑foot residence with two bedrooms and two bathrooms; Open‑concept kitchen, dining, and living areas with generous island; East River and skyline views through oversized windows
