Residential Income Property with
581 ACADEMY Street 5B, New York City, NY 10034
For Sale
$499,000
Pending
Top-floor condominium with custom maple storage, abundant natural light, and immediate subletting permission.
Property Size756 SF
Days on Market53
Property Features for 581 ACADEMY Street 5B
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Amenities
elevator
live-in superintendent
central laundry
Building Details
Building Size
Year Built
Listing Agency:
Brown Harris Stevens Residential Sales LLC
Listed By:
Edward H Liao
(212) 381-2246
Source:
Carlinwright
Added: Sep 18
Changed: Oct 31
Last Checked: Nov 8 at 1:04PM
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 Brown Harris Stevens Residential Sales LLC
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Investment Insights
Based on property information with market context.
This top-floor, two-bedroom, one-bath condominium offers 756 square feet within a 1925 postwar elevator building. The home includes south- and west-facing windows, kitchen skylights, interior bedroom ceiling windows, warm wood flooring, and extensive maple built-ins with shelving, storage, a workspace, dining area, dressers, and laundry features. A Nest-controlled central A/C and heating system, recessed dimmable LED lighting, ceiling speakers, soundproofing, and double-pane windows add to the interior specification.
The residence is at 581 Academy Street in New York City, near Fort Tryon Park, Inwood Hill Park, Highbridge Park, and the Met Cloisters. The A express train and local 1 train are each a 7-minute walk away. The building has a live-in superintendent and central laundry facilities. Pets are permitted, and immediate subletting is allowed.
The residence is at 581 Academy Street in New York City, near Fort Tryon Park, Inwood Hill Park, Highbridge Park, and the Met Cloisters. The A express train and local 1 train are each a 7-minute walk away. The building has a live-in superintendent and central laundry facilities. Pets are permitted, and immediate subletting is allowed.
Key Highlights
- 756 SF top‑floor, two‑bedroom, one‑bath condominium
- Custom maple built‑ins include shelving, storage, workspace, dressers, and laundry features
- South- and west‑facing windows plus kitchen skylights and interior bedroom ceiling windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,653
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$473,060
$473.1K
Cap Rate 7%
$337,900
$337.9K
Cap Rate 9%
$262,811
$262.8K
Market Conditions
NOI Build-Up for 756 SF
Gross rent
$45.3K $59.88/SF
− Vacancy
−$2.3K −$2.99/SF
EGI
$43.0K $56.89/SF
− OpEx
−$19.4K −$25.60/SF
NOI
$23.7K $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%
$473,060
Cap Rate 7%
$337,900
Cap Rate 9%
$262,811
Alternative Uses
Best Use
Apartment 5plus
$337.9K
$295.7K – $394.2K
NOI $23,653 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$528.5K
$462.5K – $616.6K
NOI $36,998 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
3,785
Businesses Nearby
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Business Placement
Demographics for 10034, NY
36,778
Population
16,599
Households
2.2
Avg Household Size
39
Median Age
39%
College-Educated
80%
High-School Grad
1.0 sq mi
ZIP Area
36,778
Density / Sq Mi
$69,786
Median Household Income
$47,553
Median Earnings
$1,621
Median Rent
$518,000
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in New York City, NY
Properties on Market for Residential income properties in New York City
Frequently Asked Questions
What type of property is this?
Residential income property - Top-floor condominium with custom maple storage, abundant natural light, and immediate subletting permission.
Where is this residential income property located?
The property is located at 581 ACADEMY Street 5B New York City, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 756 SF top‑floor, two‑bedroom, one‑bath condominium; Custom maple built‑ins include shelving, storage, workspace, dressers, and laundry features; South- and west‑facing windows plus kitchen skylights and interior bedroom ceiling windows
