One-Bedroom Residential Income
For Sale
$675,000
424 W 49th Street 5A, New York City, NY 10019
Six-story elevator condominium with private storage, shared laundry, and a pet-friendly policy.
Property Size620 SF
Price / SF$1,088
Days on Market8
Property Features for 424 W 49th Street 5A
General Information
Standard status
Active
Size
620 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$16,731
Amenities
private storage
communal washer and dryer
pet-friendly
Building Details
Building Size
620 SF
Year Built
1910
Stories
6
Listing Agency:
Compass
Listed By:
Mariko A Decouto
(646) 300-1630
Source:
Carlinwright
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 17 at 4:14AM
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 5A is a 620-square-foot, one-bedroom condominium with a bright, well-proportioned interior. The layout includes a spacious living area with room for seating and dining, while a kitchen pass-through creates visual connection between the two spaces without eliminating their separation. Private storage is included, and the building provides communal laundry facilities.
The property is located at 424 W 49th Street in Midtown West’s Hell’s Kitchen. The six-story elevator condominium was built in 1910 and allows pets. Broadway theaters, Restaurant Row, Lincoln Center, and Central Park are nearby, with access to the C/E, 1, N, R, and W subway lines. The residence is identified as unit 5A.
The property is located at 424 W 49th Street in Midtown West’s Hell’s Kitchen. The six-story elevator condominium was built in 1910 and allows pets. Broadway theaters, Restaurant Row, Lincoln Center, and Central Park are nearby, with access to the C/E, 1, N, R, and W subway lines. The residence is identified as unit 5A.
Key Highlights
- 620‑square‑foot one‑bedroom condominium
- Unit 5A in a six‑story elevator condominium
- Private storage included
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
$19,398
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
2.87%
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%
$387,960
$388.0K
Cap Rate 7%
$277,114
$277.1K
Cap Rate 9%
$215,533
$215.5K
Market Conditions
NOI Build-Up for 620 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
$37.1K $59.88/SF
− Vacancy
−$1.9K −$2.99/SF
EGI
$35.3K $56.89/SF
− OpEx
−$15.9K −$25.60/SF
NOI
$19.4K $31.29/SF
Area
New York, NY
Vacancy
5.00%
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%
$387,960
Cap Rate 7%
$277,114
Cap Rate 9%
$215,533
Alternative Uses
Best Use
Apartment 5plus
$277.1K
$242.5K – $323.3K
NOI $19,398 @ 7.0% cap · market cap 2.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.54M
$1.35M – $1.80M
NOI $108,029 @ 7.0% cap · market cap 16.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
42,091
Businesses Nearby
Explore this area
Business Placement
Demographics for 10019, NY
49,029
Population
33,279
Households
1.5
Avg Household Size
38
Median Age
78%
College-Educated
98%
High-School Grad
0.7 sq mi
ZIP Area
70,041
Density / Sq Mi
$121,835
Median Household Income
$108,231
Median Earnings
$2,619
Median Rent
$1,066,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Six-story elevator condominium with private storage, shared laundry, and a pet-friendly policy.
Where is this residential income property located?
The property is located at 424 W 49th Street 5A New York City, NY.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 620‑square‑foot one‑bedroom condominium; Unit 5A in a six‑story elevator condominium; Private storage included
