Residential Income Property with Renovated
For Sale
$925,000
736 W 187th Street 302, New York City, NY 10033
Two-bedroom unit in a 2005 building with renovated kitchen and an en-suite primary bath.
Property Size987 SF
Price / SF$937.18
Days on Market19
Property Features for 736 W 187th Street 302
General Information
Standard status
Active
Size
987 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$660
Amenities
landscaped courtyard
garden
furnished roof deck
fitness room
laundry room
bike storage
wheelchair accessible
Building Details
Building Size
987 SF
Year Built
2005
Listing Agency:
Bond New York Properties LLC
(646) 288-7383
Listed By:
Eva N Shure
(646) 288-7383
Source:
Carlinwright
Added: Jul 23
Changed: Aug 8
Last Checked: Aug 10 at 9:34AM
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 Bond New York Properties LLC
Investment Insights
Based on property information with market context.
736 W 187th Street 302 is a two-bedroom residence in a well-appointed residential building built in 2005. The home features a renovated kitchen with stone countertops, full-size stainless appliances, and cabinetry designed for everyday cooking. The layout flows from the living and dining space, supported by restored hardwood floors and built-in storage. Both bedrooms offer deep closets, and the primary bedroom includes a renovated en-suite bath.
Residents have access to building amenities including a landscaped courtyard and garden, a furnished roof deck, a fitness room, a laundry room, bike storage, and wheelchair accessibility. Parking includes deeded garage and deeded outdoor parking, and residents can bring pets. In-unit washer/dryer is allowed.
Financing terms include 90% financing permitted up to the 421-A abatement in place, with the abatement expiring 12/31/2030.
Residents have access to building amenities including a landscaped courtyard and garden, a furnished roof deck, a fitness room, a laundry room, bike storage, and wheelchair accessibility. Parking includes deeded garage and deeded outdoor parking, and residents can bring pets. In-unit washer/dryer is allowed.
Financing terms include 90% financing permitted up to the 421-A abatement in place, with the abatement expiring 12/31/2030.
Key Highlights
- Renovated kitchen with stone countertops and full‑size stainless appliances
- Two bedrooms with deep closets; primary has a renovated en‑suite bath
- Restored hardwood floors and storage
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
$30,881
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
3.34%
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%
$617,620
$617.6K
Cap Rate 7%
$441,157
$441.2K
Cap Rate 9%
$343,122
$343.1K
Market Conditions
NOI Build-Up for 987 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
$59.1K $59.88/SF
− Vacancy
−$3.0K −$2.99/SF
EGI
$56.1K $56.89/SF
− OpEx
−$25.3K −$25.60/SF
NOI
$30.9K $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%
$617,620
Cap Rate 7%
$441,157
Cap Rate 9%
$343,122
Alternative Uses
Best Use
Apartment 5plus
$441.2K
$386.0K – $514.7K
NOI $30,881 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.46M
$2.15M – $2.87M
NOI $171,975 @ 7.0% cap · market cap 18.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,665
Businesses Nearby
Explore this area
Business Placement
Demographics for 10033, NY
50,085
Population
21,338
Households
2.3
Avg Household Size
39
Median Age
41%
College-Educated
77%
High-School Grad
0.6 sq mi
ZIP Area
83,475
Density / Sq Mi
$75,585
Median Household Income
$41,655
Median Earnings
$1,742
Median Rent
$709,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom unit in a 2005 building with renovated kitchen and an en-suite primary bath.
Where is this residential income property located?
The property is located at 736 W 187th Street 302 New York City, NY.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Renovated kitchen with stone countertops and full‑size stainless appliances; Two bedrooms with deep closets; primary has a renovated en‑suite bath; Restored hardwood floors and storage
