Studio Residential Income
424 E 115TH Street 3A, Manhattan, NY 10029
For Sale
$130,000
White cabinetry, a subway-tile backsplash, and a full-size gas range equip the open kitchen.
Property Size200 SF
Price / SF$650
Days on Market49
Property Features for 424 E 115TH Street 3A
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Building Details
Building Size
Year Built
Listing Agency:
Platinum Forbes Global Properties
Listed By:
Constantinos Katehis
(917) 981-7708
Source:
Nobleblackandpartners
Added: Sep 22
Changed: Nov 8
Last Checked: Nov 8 at 11:37AM
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 Platinum Forbes Global Properties
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Investment Insights
Based on property information with market context.
This studio has two large windows, high ceilings, and updated flooring. Its open kitchen includes white cabinetry, a subway-tile backsplash, a stainless-steel refrigerator, and a full-size gas range. A nook beside a window can accommodate a desk or reading area, and the full bathroom has a tub. The building dates to 1910.
East River Plaza Mall is two blocks away, with Costco, Planet Fitness, and Aldi among its retailers. The 6 train and north-south and crosstown bus service are nearby. The unit is an HDFC sale requiring an all-cash purchase; subletting and pied-à-terre use are not allowed.
East River Plaza Mall is two blocks away, with Costco, Planet Fitness, and Aldi among its retailers. The 6 train and north-south and crosstown bus service are nearby. The unit is an HDFC sale requiring an all-cash purchase; subletting and pied-à-terre use are not allowed.
Key Highlights
- Studio with two large windows and high ceilings
- Open kitchen with white cabinetry, subway‑tile backsplash, stainless‑steel refrigerator, and full‑size gas range
- Window‑side nook and full bathroom with tub
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,627
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$152,540
$152.5K
Cap Rate 7%
$108,957
$109.0K
Cap Rate 9%
$84,744
$84.7K
Market Conditions
NOI Build-Up for 200 SF
Gross rent
$14.4K $72.00/SF
− Vacancy
−$533 −$2.66/SF
EGI
$13.9K $69.34/SF
− OpEx
−$6.2K −$31.20/SF
NOI
$7.6K $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 Rate 5%
$152,540
Cap Rate 7%
$108,957
Cap Rate 9%
$84,744
Alternative Uses
Best Use
Apartment 5plus
$109.0K
$95.3K – $127.1K
NOI $7,627 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$139.8K
$122.4K – $163.1K
NOI $9,788 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,504
Businesses Nearby
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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
$818,100
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Manhattan, NY
Properties on Market for Residential income properties in Manhattan
Frequently Asked Questions
What type of property is this?
Residential income property - White cabinetry, a subway-tile backsplash, and a full-size gas range equip the open kitchen.
Where is this residential income property located?
The property is located at 424 E 115TH Street 3A Manhattan, NY.
What is the asking price?
The asking price for this property is $130,000.
What are key features of this property?
This property features: Studio with two large windows and high ceilings; Open kitchen with white cabinetry, subway‑tile backsplash, stainless‑steel refrigerator, and full‑size gas range; Window‑side nook and full bathroom with tub
