Two-Bedroom Residential Income
For Sale
$649,000
50 E 129th Street 2C, New York City, NY 10035
Move-in-ready apartment with in-unit laundry, renovated kitchen finishes, and access to shared building amenities.
Property Size938 SF
Price / SF$691.90
Days on Market8
Property Features for 50 E 129th Street 2C
General Information
Standard status
Active
Size
938 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$432
Building Details
Building Size
938 SF
Year Built
2004
Listing Agency:
Sothebys International Realty
(212) 755-1500
Listed By:
Jose A Davila
(212) 755-1500
Source:
Nobleblackandpartners
Added: Aug 17
Changed: Aug 24
Last Checked: Aug 23 at 8:38AM
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 Sothebys International Realty
Investment Insights
Based on property information with market context.
This residential income property is a 938 square-foot, two-bedroom apartment in a 2004 building. The layout includes an oversized living room, defined dining area, half-open galley kitchen, two bedrooms, a full bathroom, generous closets, and in-unit washer and dryer. South-facing exposure and tall ceilings add to the apartment’s interior character. Kitchen features include natural stone countertops, a dishwasher, double-door refrigerator, pendant lighting, and track lighting.
Building amenities include a lobby lounge, gym, rooftop deck, storage bin, and Butterfly intercom service for package delivery. The property is located at 50 E 129th Street, 2C, New York City, NY 10035. A tax abatement is in place through 2033.
Building amenities include a lobby lounge, gym, rooftop deck, storage bin, and Butterfly intercom service for package delivery. The property is located at 50 E 129th Street, 2C, New York City, NY 10035. A tax abatement is in place through 2033.
Key Highlights
- 938 square‑foot two‑bedroom apartment
- South‑facing living space with oversized room and tall ceilings
- Galley kitchen with natural stone countertops, dishwasher, and double‑door refrigerator
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
$29,347
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
4.52%
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%
$586,940
$586.9K
Cap Rate 7%
$419,243
$419.2K
Cap Rate 9%
$326,078
$326.1K
Market Conditions
NOI Build-Up for 938 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
$56.2K $59.88/SF
− Vacancy
−$2.8K −$2.99/SF
EGI
$53.4K $56.89/SF
− OpEx
−$24.0K −$25.60/SF
NOI
$29.3K $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%
$586,940
Cap Rate 7%
$419,243
Cap Rate 9%
$326,078
Alternative Uses
Best Use
Apartment 5plus
$419.2K
$366.8K – $489.1K
NOI $29,347 @ 7.0% cap · market cap 4.52%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.33M
$2.04M – $2.72M
NOI $163,437 @ 7.0% cap · market cap 25.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,266
Businesses Nearby
Explore this area
Business Placement
Demographics for 10035, NY
35,980
Population
16,340
Households
2.2
Avg Household Size
38
Median Age
31%
College-Educated
76%
High-School Grad
1.4 sq mi
ZIP Area
25,700
Density / Sq Mi
$40,556
Median Household Income
$44,042
Median Earnings
$1,283
Median Rent
$663,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Move-in-ready apartment with in-unit laundry, renovated kitchen finishes, and access to shared building amenities.
Where is this residential income property located?
The property is located at 50 E 129th Street 2C New York City, NY.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 938 square‑foot two‑bedroom apartment; South‑facing living space with oversized room and tall ceilings; Galley kitchen with natural stone countertops, dishwasher, and double‑door refrigerator
