Residential Income Property with
For Sale
$499,000
668 Riverside Drive 4E, New York City, NY 10031
One-bedroom condominium residence with renovated kitchen, abundant storage, and elevator building amenities.
Property Size726 SF
Days on Market12
Property Features for 668 Riverside Drive 4E
General Information
Standard status
Active
Size
726 SF
Elevators
Yes
Property subtype
Apartment
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,696
Amenities
live-in superintendent
video entry system
on-site laundry
pet-friendly
Building Details
Building Size
726 SF
Year Built
1907
Listing Agency:
Compass
(646) 408-7785
Listed By:
Beth Renee Gittleman
(646) 408-7785
Source:
Serhant
Added: Aug 14
Changed: Aug 23
Last Checked: Aug 24 at 2:13PM
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 4E at 668 Riverside Drive Condominiums is a one-bedroom condominium in a classic prewar building completed in 1907. The home features high ceilings, a defined entry foyer, a walk-in closet, additional living room storage, and an open living and dining area. Its renovated kitchen includes stainless steel appliances and a gas range, while the king-sized bedroom has multiple windows and open street views. A windowed bathroom completes the layout.
Building amenities include an elevator, live-in superintendent, video entry system, on-site laundry, and pet-friendly policies. The property is in Hamilton Heights along Riverside Drive, less than two blocks from the 145th Street subway station and directly across from Riverbank State Park. The Hudson River Greenway, neighborhood restaurants, cafes, and local shopping are also nearby.
Building amenities include an elevator, live-in superintendent, video entry system, on-site laundry, and pet-friendly policies. The property is in Hamilton Heights along Riverside Drive, less than two blocks from the 145th Street subway station and directly across from Riverbank State Park. The Hudson River Greenway, neighborhood restaurants, cafes, and local shopping are also nearby.
Key Highlights
- Oversized one‑bedroom condominium with high ceilings
- Renovated kitchen with stainless steel appliances and gas range
- Entry foyer with walk‑in closet plus additional living room closet
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
$22,715
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
4.55%
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%
$454,300
$454.3K
Cap Rate 7%
$324,500
$324.5K
Cap Rate 9%
$252,389
$252.4K
Market Conditions
NOI Build-Up for 726 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
$43.5K $59.88/SF
− Vacancy
−$2.2K −$2.99/SF
EGI
$41.3K $56.89/SF
− OpEx
−$18.6K −$25.60/SF
NOI
$22.7K $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 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%
$454,300
Cap Rate 7%
$324,500
Cap Rate 9%
$252,389
Alternative Uses
Best Use
Apartment 5plus
$324.5K
$283.9K – $378.6K
NOI $22,715 @ 7.0% cap · market cap 4.55%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.81M
$1.58M – $2.11M
NOI $126,498 @ 7.0% cap · market cap 25.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,771
Businesses Nearby
Explore this area
Business Placement
Demographics for 10031, NY
56,363
Population
24,110
Households
2.3
Avg Household Size
36
Median Age
41%
College-Educated
79%
High-School Grad
0.7 sq mi
ZIP Area
80,519
Density / Sq Mi
$65,067
Median Household Income
$41,149
Median Earnings
$1,787
Median Rent
$678,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condominium residence with renovated kitchen, abundant storage, and elevator building amenities.
Where is this residential income property located?
The property is located at 668 Riverside Drive 4E 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: Oversized one‑bedroom condominium with high ceilings; Renovated kitchen with stainless steel appliances and gas range; Entry foyer with walk‑in closet plus additional living room closet
