$2,950,000
Investment Summary
- Monthly Cash Flow
- -$15,884
- Cap Rate
- -0.4%
- Cash-on-Cash Return
- -28.1%
- Debt Coverage Ratio
- -0.06
- Internal Rate of Return (5 years)
- -23.1%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Property Description
Come home to this sprawling four bedroom, four bath in pristine condition at the East Hill Condominium. This beautiful home provides a serene ambiance, a sense of calm, and positive energy. Unique and rarely-available, Residence 2AB is situated in a boutique condominium building with just two apartments per floor, ensuring exclusivity and privacy. Meticulously designed with no detail overlooked, it offers a tranquil and soothing atmosphere in the heart of the Upper East Side. As you enter the spacious foyer, you’re welcomed by a bright and airy interior. Floor-to-ceiling windows flood the apartment with natural light and provide tranquil views of the treetops. The open-concept layout flawlessly combines a refined living room, a comfortable lounge, and a formal dining area, all leading into the gourmet kitchen. Outfitted with top-tier stainless steel appliances from Wolf, Sub-Zero, and Bosch, the kitchen also boasts a wine cooler, ample storage, and generous counter space, making it ideal for daily use as well as hosting special gatherings. A convenient pass-through window connects the kitchen to a nearby home office, offering a private space for work or relaxation. The astute split-bedroom layout ensures maximum privacy and comfort, with two bedrooms at one end of the apartment and two at the other. Each bedroom is generously sized and features its own en-suite bathroom and ample closet space. The luxurious primary suite offers a peaceful sanctuary, complete with French doors, a cozy sitting nook, a gas fireplace, and a spa-like en-suite bath. Additional bedrooms include custom built-in cabinetry and custom made closets. The additional en-suite baths showcase luxurious marble accents, complete with full bathtubs, showers, designer water fixtures, and custom lighting. The Japanese-inspired primary bathroom further enhances this placid atmosphere. Experience an authentic, state-of-the-art Finnish style sauna, featuring radiant soapstone that evenly distributes intense heat throughout the space. This exceptional addition was installed with the explicit approval of the Condo Board. The primary bath further features dual cascade shower heads, including one dedicated to arctic cold water supplied by a built-in chiller. This system also serves the Japanese Ofuro soaking tub, providing a refreshing 40-degree Celsius glacier-temperature plunge after using the sauna. A built-in water filtration system removes contaminants and chemicals like chlorine, ensuring a soothing experience free from skin and eye irritations. Every detail of this residence resonates with a sense of magic, inviting you to indulge in its tranquil and soothing ambiance, perfect for unwinding after a long day. The home also features a full size washer and vented dryer, ensuring effortless laundry days, as well as a deeded storage cage. Throughout the home, you’ll find modern amenities such as new HVAC units in each room, chandeliers, recessed LED lighting, and beautiful European white oak floors, which add warmth and character. East Hill Condominium residents are welcomed by a newly renovated lobby, thoughtfully designed by acclaimed architect Jacob Bek, and enjoy an array of premium amenities. These include a daytime doorman (9 AM to 6 PM) with virtual doorman service afterward, a superintendent, a neighboring parking garage, private storage, a furnished roof garden, and an exercise room. Located on a charming, tree-lined street, this building offers prime access to the 6 and Q trains, multiple bus lines, the FDR Drive, and nearby amenities like Whole Foods and other gourmet food markets, fine restaurants, Central Park, Carl Schurz Park, Museum Mile, Madison Avenue boutiques, and the 92nd Street Y Arts Center. Don’t miss the chance to call this pet-friendly Upper East Side loft-like residence your home— complete with the prestige of a quintessential 212 New York address. Property taxes include 17.5% NYC Coop/Condo abatement for prime resident
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Location
Property Details
Parking
- Garage Spaces: 0
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 11
- # of Stories: 0
- Basement Description: Storage Space
HOA
- Has HOA: Yes
- HOA Fee: $3,235/monthly
Land Information
- Land Use: Residential
- Land Use Subtype: Condominium Unit
Lot Information
- Parcel ID: 015401225
- Lot Size: 0 sqft
Property Information
- Property Type: Condominium
- Style: Other
- Year Built: 2007
Tax Information
- Annual Tax: $44,820
Utilities
- Water & Sewer: Public
- Heating: Electric, Forced Air
- Cooling: Central Air
Location
- County: New York
Listing Details
Investment Summary
- Monthly Cash Flow
- -$15,884
- Cap Rate
- -0.4%
- Cash-on-Cash Return
- -28.1%
- Debt Coverage Ratio
- -0.06
- Internal Rate of Return (5 years)
- -23.1%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Purchase Details
Purchase PriceThe price paid for the property. Purchase price:
| $2,950,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$2,360,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $590,000 |
Closing CostsFees and expenses associated with purchasing a property, typically ranging from 2% to 5% of the home’s purchase price, paid at the end of a home purchase to cover services like lending, title transfer, and taxes. Closing costs:
| $88,500 |
Rehab CostsCosts incurred to repair or improve the property, including: roof, flooring, exterior siding, kitchen, exterior paint, bathrooms, etc. Rehab costs:
| $0 |
Initial Cash InvestedThe total initial cash invested in the property. Calculation:Down payment + Buying costs + Rehab costs Initial cash invested:
| $678,500 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,592 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $1,138 |
Monthly Rent Per Square FootMonthly rent divided by the number of square feet. This ratio helps investors compare rental income efficiency across properties, markets, and unit sizes Calculation:Monthly Rent / Square Feet Monthly rent per square foot:
| $3.36 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $2,360,000 |
|---|---|
Loan to Value Ratio (LTV)Loan amount divided by the market value of the property. Calculation:Loan Amount / Market Value
Loan to value ratio:
| 80.0% |
Loan TypeThe type of loan (e.g., fixed, adjustable).
Loan type:
| Amortizing |
TermThe loan repayment period in years.
Term:
| 30 years |
Interest RateThe percentage a lender charges on the borrowed amount of a loan, determining the cost of borrowing money.
Interest rate:
| 6.500% |
Principal & Interest (PI)The principal is the portion of the loan payment that reduces the loan balance. The interest is the lender's charge for borrowing money. Calculation:(P * r * (1 + r) ** n) / ((1 + r) ** n - 1) Where:
P = Loan amount (principal)
Principal & interest:
| $14,917 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $3,735 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified.
Insurance:
| $609 |
Private Mortgage Insurance (PMI)A fee that borrowers pay when they take out a conventional loan with a loan-to-value (LTV) ratio above 80%.
Private mortgage insurance (PMI):
| $0 |
Monthly PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. Monthly payment:
| $19,261 |
Operating Income
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Gross RentThe total rental income received from tenants before deducting any expenses. Includes base rent, late fees, pet fees, parking fees, and other recurring charges.
Gross rent:
| $8,700 | $104,400 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$522 | -$6,264 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $8,178 | $98,136 |
Operating Expenses
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services. | 43% | -$3,735 | -$44,820 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified. | 7% | -$609 | -$7,308 |
Property ManagementThe costs associated with hiring a property manager to handle the day-to-day operations of a rental property. Includes management fees, leasing fes, eviction fees, etc. Calculation:Assumes 8% of gross rental income. | 8% | -$696 | -$8,352 |
Repairs & MaintenanceOngoing costs for routine upkeep and minor fixes needed to keep a property in good working condition. Calculation:Assumes 5% of gross rental income. Varies by property age and condition. | 5% | -$435 | -$5,220 |
Capital ExpensesLarge, infrequent costs for major improvements or replacements, like a new roof, HVAC system, or appliances. Calculation:Assumes 5% of gross rental income. Varies by property age. | 5% | -$435 | -$5,220 |
HOA FeesRegular dues paid to a Homeowners Association for community maintenance, amenities, and management. Similar fees include: Condo Association Fees, Co-op Maintenance Fees, etc. | 37% | -$3,235 | -$38,820 |
Operating ExpensesRecurring costs required to maintain and manage a rental property, including property taxes, insurance, maintenance, repairs, utilities (if paid by the owner), property management fees, and other day-to-day expenses. Calculation:Insurance + Property Taxes + Property Management + Repairs & Maintenance + Capital Expenditures + HOA Fees | 105% | -$9,145 | -$109,740 |
Cash Flow
| Monthly | Yearly | |
|---|---|---|
Net Operating Income (NOI)The income generated from a property after deducting all operating expenses but before deducting mortgage payments, taxes, and capital expenditures. Calculation:Gross Operating Income - Operating Expenses
Net operating income:
| -$967 | -$11,604 |
Mortgage PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. | -$14,917 | -$179,004 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $15,884 | $190,608 |