HDFC Studio Residential
424 E 115th Street 4A, Manhattan, NY 10029
For Sale
$120,000
Fourth-floor studio in a self-managed cooperative, with an open kitchen and a bathroom with a tub.
Property Size200 SF
Price / SF$600
Days on Market35
Property Features for 424 E 115th Street 4A
General Information
Standard status
Size
Property subtype
Additional Details
Public Transit
Multifamily Units
Building Details
Building Size
Year Built
Listing Agency:
Compass
Listed By:
Heather Meryl Cooper
(917) 697-7494
Source:
Carlinwright
Added: Oct 6
Changed: Nov 9
Last Checked: Nov 8 at 3:34PM
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
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Investment Insights
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This fourth-floor HDFC cooperative unit is configured as a studio with one bathroom. The open kitchen has oak cabinetry and counter space; oak hardwood flooring runs through the main living area, with ceramic tile in the kitchen and bath. The bathroom includes a tub. The building dates to 1910, and the cooperative is self-managed. Monthly maintenance covers utilities, including gas and electricity.
The property is near the 6 train and M15 Select Bus Service, with connections to the Q train. East River Plaza, Costco and Aldi are a few blocks away. Nearby outdoor destinations include Thomas Jefferson Park, Central Park, Marcus Garvey Park and Randall’s Island.
Purchase terms require an all-cash transaction and use as a primary residence. Household income limits apply under HDFC guidelines.
The property is near the 6 train and M15 Select Bus Service, with connections to the Q train. East River Plaza, Costco and Aldi are a few blocks away. Nearby outdoor destinations include Thomas Jefferson Park, Central Park, Marcus Garvey Park and Randall’s Island.
Purchase terms require an all-cash transaction and use as a primary residence. Household income limits apply under HDFC guidelines.
Key Highlights
- Studio with one bathroom on the fourth floor
- HDFC cooperative building constructed in 1910
- Monthly maintenance includes gas, electricity and other utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,627
Cap Rate
6.36%
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 6.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$139.8K
$122.4K – $163.1K
NOI $9,788 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
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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
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Properties on Market for Residential income properties in Manhattan
Frequently Asked Questions
What type of property is this?
Residential income property - Fourth-floor studio in a self-managed cooperative, with an open kitchen and a bathroom with a tub.
Where is this residential income property located?
The property is located at 424 E 115th Street 4A Manhattan, NY.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: Studio with one bathroom on the fourth floor; HDFC cooperative building constructed in 1910; Monthly maintenance includes gas, electricity and other utilities
