Last updated on June 21st, 2023
airbnb property for sale New York City Center
The wondrous New York City, where do we begin? This city is famous for a wide variety of reasons such as Broadway performances, world-class pizza, and different kinds of businesses across the globe. There are plenty of best places to Airbnb in New York such as Manhattan, Brooklyn, and Long Island, so a market research should be primarily implemented to get a grasp of the entire market.
Before deciding to purchase a property, it’s certainly important to consider the major costs, revenue, and Airbnb occupancy rates in NYC.
While rental arbitrage in NYC is fairly popular and does not require you to purchase a property, it’s still recommended to learn about buying a property for Airbnb in the future and making sure that it’s profitable.
Source: NYC House Market Trends
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“The New York real estate market has been booming year over year. NYC home prices nearly doubled over the last decade. With supply and demand continuing to favor sellers, prices continue to rise year over year.”
– Norada Real Estate Investment on NYC Market Forecast
Airbnb occupancy rates by city state that an average host in New York City can earn up to $40,524 during the peak seasons of July – September. With over 14,261 Airbnb listings in NYC, it’s certainly a catch for property investors.
Here’s an interesting fact: One of the Airbnb hosts featured in our podcast, Into The Airbnb, shares her hosting experience in Albany. Listen for more Airbnb hosting tips in Albany, NYC:
Aside from looking at a property’s fascinating architectural design, proximity to major tourist areas, and accessibility to the best go-to places, the primary step is to determine profitability. In this article, we’ll discuss the metrics in order to gauge the best property investment.
This includes the best website recommendations for property investment in New York City, property gross rental yield, cash-on-cash return, and annual revenue, along with some of the most ideal and profitable properties according to their location. Stoked to learn more? Continue reading!
Is Property Investment Profitable in New York City Center?
Using a free Airbnb calculator, it was discovered that a 2-bedroom property in New York City Centre can generate an annual revenue of $163,634 with a steady occupancy rate of 84% and a nightly rate of $499.
airbnb property for sale New York City Center
Cheap Homes for Sale in New York City Centre
Finding the best properties that have the potential to produce high yields and capital growth are certainly some of the preferences of major investors. It’s always best to ask for assistance from real estate agents to access exclusive and unique properties during the development stage.
At the same time, it’s even better when a property investor like you conducts research about predicted growths and market forecasts. Here are some of the profitable properties in New York City Centre along with the calculated gross rental yield, cash-on-cash return, and annual revenue:
25 Franklin Ave Apt 4J, White Plains, NY 10601
1. Studio-type Property for Sale in New York
Near Westchester Ave
Asking Price: $85,000
| GROSS RENTAL YIELD | 29.07% |
| ANNUAL REVENUE | $24,708 |
| CASH ON CASH RETURN | 61.44% |
505 Central Ave Apt 821, White Plains, NY 10606
2. 1-Bedroom Property for Sale in New York
Near Central Avenue
Asking Price: $124,500
| GROSS RENTAL YIELD | 22.51% |
| ANNUAL REVENUE | $28,030 |
| CASH ON CASH RETURN | 41.77% |
207 Highbridge St Apt 2, Fayetteville, NY 13066
3. 2-Bedroom Property for Sale in New York
Near Genesee Turnpike
Asking Price: $152,000
| GROSS RENTAL YIELD | 25.15% |
| ANNUAL REVENUE | $38,221 |
| CASH ON CASH RETURN | 49.67% |
5 Cricket Ln, Freeville, NY 13068
4. 3-Bedroom Property for Sale in New York
Near Groton Rd
Asking Price: $164,900
| GROSS RENTAL YIELD | 27.45% |
| ANNUAL REVENUE | $45,268 |
| CASH ON CASH RETURN | 56.59% |
113 Lander St, Newburgh, NY 12550
5. 4-Bedroom Property for Sale in New York
Near Newburgh
Asking Price: $250,000
| GROSS RENTAL YIELD | 27.31% |
| ANNUAL REVENUE | $68,263 |
| CASH ON CASH RETURN | 56.15% |
Conclusion
Since Airbnb is rapidly increasing and constantly changing for each city in the world, it is crucial to make decisions based on wild guesses. The data points mentioned in this article for NYC such as Airbnb occupancy rates, annual revenue, and average daily rate should be the primary basis before investing in a property.
Hence, if the data presented above has given you ideas to boost your strategic pricing plan for your business, then an Airbnb rental arbitrage calculator is certainly what you need for success in the long run. It’s a fact that some of the STR investors are also considering Airbnb Rental Arbitrage, but they still need to have a reliable data tool on which to base their conclusions!
As we live in a digital era, an accurate data analytics tool can help your business stand out among your surrounding competitors and benchmark your property by tracking the occupancy rates of competing listings in your preferred city.
