Duplex Loft Residential Income
For Sale
$995,000
407 E 91st Street 1H, New York City, NY 10128
Two-level residence with flexible rooms, exposed brick, oversized windows, and extensive built-in storage.
Property Size1,950 SF
Price / SF$510.26
Days on Market8
Property Features for 407 E 91st Street 1H
General Information
Standard status
Active
Size
1,950 SF
Elevators
Yes
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
central laundry room
package room
Building Details
Building Size
1,950 SF
Year Built
1901
Listing Agency:
Compass
Listed By:
Dylan Hildreth Hoffman
(646) 431-2260
Source:
Nobleblackandpartners
Added: Sep 17
Changed: Sep 23
Last Checked: Sep 22 at 8:59PM
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.
This two-level residential income property offers a loft-style layout with approximately 1,950 square feet of interior space. The main level combines living and dining areas beneath ceilings reaching approximately 12 feet, along with oversized windows, exposed brick, hardwood floors, a separate kitchen with stainless steel appliances, a full bathroom, and dedicated storage. The lower level includes an oversized primary bedroom, a second bedroom, multiple closets, a walk-in closet, and a primary bathroom that is currently under construction.
The home is located in a 1901 prewar co-op with 38 residences. Building amenities include an elevator, live-in superintendent, central laundry room, package room, and pet-friendly policies. A parking garage is directly across the street, while Carl Schurz Park, Gracie Mansion, Asphalt Green Athletic Complex, restaurants, shopping, schools, crosstown bus service, and the Second Avenue Subway are nearby.
The home is located in a 1901 prewar co-op with 38 residences. Building amenities include an elevator, live-in superintendent, central laundry room, package room, and pet-friendly policies. A parking garage is directly across the street, while Carl Schurz Park, Gracie Mansion, Asphalt Green Athletic Complex, restaurants, shopping, schools, crosstown bus service, and the Second Avenue Subway are nearby.
Key Highlights
- Duplex loft layout with approximately 1,950 square feet
- Main‑level ceilings reach approximately 12 feet
- Two bedrooms, two levels, and two full bathrooms
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
$60,882
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
6.12%
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%
$1,217,640
$1.2M
Cap Rate 7%
$869,743
$869.7K
Cap Rate 9%
$676,467
$676.5K
Market Conditions
NOI Build-Up for 1,950 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
$116.8K $59.88/SF
− Vacancy
−$6.1K −$3.11/SF
EGI
$110.7K $56.77/SF
− OpEx
−$49.8K −$25.54/SF
NOI
$60.9K $31.22/SF
Area
ZIP 10128
Vacancy
5.20%
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%
$1,217,640
Cap Rate 7%
$869,743
Cap Rate 9%
$676,467
Alternative Uses
Best Use
Apartment 5plus
$869.7K
$761.0K – $1.01M
NOI $60,882 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.39M
$1.21M – $1.62M
NOI $97,052 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
13,088
Businesses Nearby
Explore this area
Business Placement
Demographics for 10128, NY
64,249
Population
35,940
Households
1.8
Avg Household Size
38
Median Age
77%
College-Educated
96%
High-School Grad
0.5 sq mi
ZIP Area
128,498
Density / Sq Mi
$148,705
Median Household Income
$103,078
Median Earnings
$2,648
Median Rent
$1,295,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Two-level residence with flexible rooms, exposed brick, oversized windows, and extensive built-in storage.
Where is this residential income property located?
The property is located at 407 E 91st Street 1H New York City, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Duplex loft layout with approximately 1,950 square feet; Main‑level ceilings reach approximately 12 feet; Two bedrooms, two levels, and two full bathrooms
