Renovated Residential Income
For Sale
$350,000
86 Thayer Street 2-L, New York City, NY 10040
Bright one-bedroom co-op with updated interiors, in-unit laundry, and access to Fort Tryon Park and nearby transit.
Property Size658 SF
Price / SF$531.91
Days on Market110
Property Features for 86 Thayer Street 2-L
General Information
Standard status
Active
Size
658 SF
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Building Details
Building Size
658 SF
Year Built
1928
Listing Agency:
REAVIS DEVELOPMENT MARKETING LLC
(646) 361-3276
Listed By:
Natanel Malkoukian
(646) 361-3276
Source:
Carlinwright
Added: Apr 23
Changed: Aug 9
Last Checked: Aug 10 at 9:53AM
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 REAVIS DEVELOPMENT MARKETING LLC
Investment Insights
Based on property information with market context.
This pre-war cooperative residence, built in 1928, has been comprehensively renovated with contemporary fixtures and finishes. The one-bedroom, one-bath layout includes an open living and dining area, a windowed kitchen with stone counters, custom cabinetry, stainless steel appliances, dishwasher, and microwave. Hardwood flooring, recessed lighting, tall sash windows, thru-wall A/C, and traditional steam heat are also provided. The bedroom includes private closet space, while the bathroom offers a deep tub and custom vanity. A stacked washer and dryer is located within the home.
The property is seconds from Fort Tryon Park and The Met Cloisters, with Highbridge Park, Isham Park, Inwood Hill Park, the Hudson River Greenway, restaurants, and shops nearby. The 1 and A subway lines provide access across Manhattan. Building features include a live-in superintendent, and guarantors and pets are permitted.
The property is seconds from Fort Tryon Park and The Met Cloisters, with Highbridge Park, Isham Park, Inwood Hill Park, the Hudson River Greenway, restaurants, and shops nearby. The 1 and A subway lines provide access across Manhattan. Building features include a live-in superintendent, and guarantors and pets are permitted.
Key Highlights
- 658‑property‑size residence with one bedroom and one bathroom
- 1928 pre‑war cooperative building
- Renovated kitchen with stone countertops, custom cabinetry, and stainless steel appliances
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
$20,587
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
5.88%
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%
$411,740
$411.7K
Cap Rate 7%
$294,100
$294.1K
Cap Rate 9%
$228,744
$228.7K
Market Conditions
NOI Build-Up for 658 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
$39.4K $59.88/SF
− Vacancy
−$2.0K −$2.99/SF
EGI
$37.4K $56.89/SF
− OpEx
−$16.8K −$25.60/SF
NOI
$20.6K $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%
$411,740
Cap Rate 7%
$294,100
Cap Rate 9%
$228,744
Alternative Uses
Best Use
Apartment 5plus
$294.1K
$257.3K – $343.1K
NOI $20,587 @ 7.0% cap · market cap 5.88%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.64M
$1.43M – $1.91M
NOI $114,650 @ 7.0% cap · market cap 32.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,698
Businesses Nearby
Explore this area
Business Placement
Demographics for 10040, NY
40,405
Population
17,020
Households
2.4
Avg Household Size
39
Median Age
38%
College-Educated
77%
High-School Grad
0.6 sq mi
ZIP Area
67,342
Density / Sq Mi
$64,022
Median Household Income
$41,849
Median Earnings
$1,680
Median Rent
$465,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Bright one-bedroom co-op with updated interiors, in-unit laundry, and access to Fort Tryon Park and nearby transit.
Where is this residential income property located?
The property is located at 86 Thayer Street 2-L New York City, NY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 658‑property‑size residence with one bedroom and one bathroom; 1928 pre‑war cooperative building; Renovated kitchen with stone countertops, custom cabinetry, and stainless steel appliances
