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1814 Phelan Place
About This Property
The first-floor apartment features five bedrooms and two full bathrooms, with access to a large private backyard. The second-floor apartment features five bedrooms and one full bathroom, offering a spacious layout with plenty of living space.
Both units are currently rented, making this a high-income-producing property and an attractive opportunity for investors. Alternatively, the property may be delivered vacant, offering an excellent opportunity for an owner-occupant looking to live in one or both units and customize the property to their needs.
With ten bedrooms, three full bathrooms, a large backyard, and a substantial 32 x 105 lot, this detached two-family home offers tremendous space and flexibility. Conveniently located near public transportation, major roadways, shopping, restaurants, schools, and other neighborhood amenities.
A unique opportunity for investors or owner-occupants seeking a large, income-producing two-family property in Morris Heights.Featured Residential Sales.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 27, 2026 | In contract | - | |
| In contract | |||
| Sep 18, 2026 | Listed by NY Space Finders Inc | $1,200,000 | |
| Listed by NY Space Finders Inc | |||
| Oct 22, 2018 | Sold | ||
| Sold | |||
| Apr 19, 2018 | Listed by NY Space Finders Inc | $549,900 | |
| Listed by NY Space Finders Inc | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017