Residential Income Property with
New
For Sale
$688,000
51 E 131st Street 3-B, New York City, NY 10037
The one-bedroom residence includes in-unit laundry, a gas range, and access to shared fitness and lounge amenities.
Property Size649 SF
Price / SF$1,060
Days on Market7
Property Features for 51 E 131st Street 3-B
General Information
Standard status
Active
Size
649 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$12,204
Amenities
landscaped garden
residents' lounge
24-hour fitness center
dedicated yoga space
virtual doorman
bike storage
pet spa
package room
private terrace
in-unit washer/dryer
Building Details
Building Size
649 SF
Year Built
2016
Listing Agency:
Nest Seekers LLC
Listed By:
Yelena Kats
(917) 628-3294
Source:
Howardhannanyc
Added: Oct 21
Changed: Oct 25
Last Checked: Oct 27 at 2:06AM
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 Nest Seekers LLC
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Investment Insights
Based on property information with market context.
This 649-square-foot, one-bedroom residence in The Style Condominium was built in 2016 and features 9-foot ceilings, oversized windows, recessed lighting, and white oak plank flooring. The open living area connects to a kitchen with white quartz counters, a glass-tile backsplash, an integrated Bloomberg refrigerator, a Bosch dishwasher, a stainless steel microwave, and a gas range. A 45-foot private terrace faces the garden. The bathroom has a soaking tub and storage, while a closet houses a stackable Bosch washer and dryer.
Building amenities include a landscaped garden between its two structures, a residents’ lounge, a 24-hour fitness center, a yoga space, virtual doorman service, bike storage, a pet spa, and a package room. The building has two residents per floor. Whole Foods on 125th Street, dining along Lenox Avenue, and the 2, 3, 4, 5, and 6 subway trains and Metro-North service are within reach.
Building amenities include a landscaped garden between its two structures, a residents’ lounge, a 24-hour fitness center, a yoga space, virtual doorman service, bike storage, a pet spa, and a package room. The building has two residents per floor. Whole Foods on 125th Street, dining along Lenox Avenue, and the 2, 3, 4, 5, and 6 subway trains and Metro-North service are within reach.
Key Highlights
- 649‑square‑foot one‑bedroom condominium residence
- 45 ft private terrace facing the garden
- Built in 2016; 9 ft ceilings and white oak plank flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,305
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$406,100
$406.1K
Cap Rate 7%
$290,071
$290.1K
Cap Rate 9%
$225,611
$225.6K
Market Conditions
NOI Build-Up for 649 SF
Gross rent
$38.9K $59.88/SF
− Vacancy
−$1.9K −$2.99/SF
EGI
$36.9K $56.89/SF
− OpEx
−$16.6K −$25.60/SF
NOI
$20.3K $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 Rate 5%
$406,100
Cap Rate 7%
$290,071
Cap Rate 9%
$225,611
Alternative Uses
Best Use
Apartment 5plus
$290.1K
$253.8K – $338.4K
NOI $20,305 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.62M
$1.41M – $1.88M
NOI $113,082 @ 7.0% cap · market cap 16.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
7,168
Businesses Nearby
Explore this area
Business Placement
Demographics for 10037, NY
19,670
Population
11,218
Households
1.8
Avg Household Size
39
Median Age
43%
College-Educated
86%
High-School Grad
0.2 sq mi
ZIP Area
98,350
Density / Sq Mi
$51,250
Median Household Income
$54,349
Median Earnings
$1,406
Median Rent
Frequently Asked Questions
What type of property is this?
Residential income property - The one-bedroom residence includes in-unit laundry, a gas range, and access to shared fitness and lounge amenities.
Where is this residential income property located?
The property is located at 51 E 131st Street 3-B New York City, NY.
What is the asking price?
The asking price for this property is $688,000.
What are key features of this property?
This property features: 649‑square‑foot one‑bedroom condominium residence; 45 ft private terrace facing the garden; Built in 2016; 9 ft ceilings and white oak plank flooring
