Investment Case Study
The 321 W 13th example
Over the past 30 years, the property at 321 W 13th Street, West Village, Manhattan has shown robust performance:
- Property Value Growth: From $250,000 in 1995 to $1,850,000 in 2025, representing a 640% increase in asset value.
- Rental Income Growth: Net rental income increased from $27,850/year in 1995 to approximately $72,500/year by 2025, marking a 255% increase.
- Cap Rate Stability: Despite market cycles, the cap rate gradually decreased from 1% in 1995 to around 4% by 2025, consistent with rising property values in premium Manhattan locations.
- Cash-on-Cash Return: Averaged between 15-25% annually over the observed period, peaking near 30% in certain years, as illustrated in the graph.
- Equity Growth: Equity multiple increased significantly, reflecting substantial gains for investors leveraging initial capital.
Located in the heart of the West Village, 321 W 13th Street benefits from its adjacency to iconic destinations like the Meatpacking District, High Line, Chelsea Market, and vibrant cultural venues. This premium location sustains strong rental demand and continuous value appreciation, making it a highly attractive long-term investment for both residents and investors.
| Year | Value of property | Maintenance | Taxes | Gross Rental Income | Net Rental Income | Cap Rate | $ / $ |
|---|---|---|---|---|---|---|---|
| 1995 | $250,000.00 | $1,800.00 | $3,350.00 | $33,000.00 | $27,850.00 | 11.14% | 11.14% |
| 2000 | $675,000.00 | $3,840.00 | $4,560.00 | $45,000.00 | $36,600.00 | 5.42% | 14.64% |
| 2005 | $850,000.00 | $5,400.00 | $5,640.00 | $51,000.00 | $39,960.00 | 4.70% | 15.98% |
| 2010 | $1,020,000.00 | $6,960.00 | $6,554.00 | $56,400.00 | $42,886.00 | 4.20% | 17.15% |
| 2015 | $1,760,000.00 | $8,832.00 | $9,113.00 | $86,400.00 | $68,455.00 | 3.89% | 27.38% |
| 2020 | $1,750,000.00 | $8,304.00 | $12,240.00 | $90,720.00 | $70,176.00 | 4.01% | 28.07% |
| 2025 | $1,850,000.00 | $10,200.00 | $16,424.00 | $99,000.00 | $72,376.00 | 3.91% | 28.95% |
The 23 Prince Street example
Over the past 14 years, the property 23 prince, in NOLITA, Manhattan has shown robust performance:
Property Value Growth: From $3,950,000 in 2010 to 15,312,960.44 in 2025, representing a 288% increase in asset value.Rental Income Growth: Net rental income increased from -$57,075/year in 2010, due to investment in renovating property, to approximately $603,351.59/year by 2025.
Cap Rate Stability: Despite market cycles, in 2025 the cap rate is around 4%, consistent with rising property values in premium Manhattan locations.
Cash-on-Cash Return: in 2025 the cash on cash return is of 15.3%.
Equity Growth: Equity multiple increased significantly, reflecting substantial gains for investors leveraging initial capital.
Located in the heart of NOLITA, 23 Prince Street benefits from its adjacency to iconic destinations like the Soho, Noho, Tribeca, and vibrant cultural venues. This premium location sustains strong rental demand and continuous value appreciation, making it a highly attractive long-term investment for both residents and investors.
| Year | Value of property | Total Expenses | Gross Rental Income | Net Rental Income | Cap Rate | $ / $ |
|---|---|---|---|---|---|---|
| 2010 | $3,950,000.00 | $261,075.95 | $204,000.00 | –$57,075.95 | -1.44% | -1% |
| 2015 | $16,406,743.33 | $127,047.04 | $404,038.08 | $276,991.04 | 1.69% | 7% |
| 2020 | $13,781,664.44 | $56,267.59 | $353,532.32 | $297,264.73 | 2.16% | 8% |
| 2025 | $15,312,960.44 | $112,148.41 | $715,500.00 | $603,351.59 | 4% | 15% |