Residential Income Property with
For Sale
$599,000
107 SCHAEFER Street 3B, Brooklyn, NY 11207
One-bedroom condominium with private outdoor space and contemporary finishes.
Property Size739 SF
Price / SF$810.55
Days on Market45
Property Features for 107 SCHAEFER Street 3B
General Information
Standard status
Active
Size
739 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
private balcony
common roof deck
Building Details
Building Size
739 SF
Year Built
1915
Listing Agency:
Revived Residential
Listed By:
Michael Chindemi
(347) 994-6789
Source:
Miradorrealestate
Added: Jul 21
Changed: Sep 3
Last Checked: Sep 1 at 10:38PM
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 Revived Residential
Investment Insights
Based on property information with market context.
Residence 3B is a one-bedroom condominium with 739 SF of living space, a practical floor plan, and a private balcony. Interior details include white oak flooring, PrinceStone tile, Calacatta Idillio quartz surfaces, and appliances from Bosch and Fisher & Paykel. The building dates to 1915 and includes elevator access controlled by resident key fobs.
Residents have access to a common roof deck with views toward Manhattan, Brooklyn, and Queens. Subway options nearby include Wilson Avenue on the L line, Chauncey Street on the J and Z lines, and Halsey Street and Myrtle-Wyckoff Avenue on the L and M lines. Eight dedicated parking spaces are located within the building, separately deeded, and offered on a first-come, first-served basis; parking is not included with the residence.
Residents have access to a common roof deck with views toward Manhattan, Brooklyn, and Queens. Subway options nearby include Wilson Avenue on the L line, Chauncey Street on the J and Z lines, and Halsey Street and Myrtle-Wyckoff Avenue on the L and M lines. Eight dedicated parking spaces are located within the building, separately deeded, and offered on a first-come, first-served basis; parking is not included with the residence.
Key Highlights
- One‑bedroom condominium with 739 SF of living space
- Private balcony included with Residence 3B
- White oak flooring, PrinceStone tile, and Calacatta Idillio quartz
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
$22,561
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
3.77%
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%
$451,220
$451.2K
Cap Rate 7%
$322,300
$322.3K
Cap Rate 9%
$250,678
$250.7K
Market Conditions
NOI Build-Up for 739 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
$41.9K $56.64/SF
− Vacancy
−$837 −$1.13/SF
EGI
$41.0K $55.51/SF
− OpEx
−$18.5K −$24.98/SF
NOI
$22.6K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /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%
$451,220
Cap Rate 7%
$322,300
Cap Rate 9%
$250,678
Alternative Uses
Best Use
Apartment 5plus
$322.3K
$282.0K – $376.0K
NOI $22,561 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$611.9K
$535.4K – $713.9K
NOI $42,832 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,987
Businesses Nearby
Explore this area
Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condominium with private outdoor space and contemporary finishes.
Where is this residential income property located?
The property is located at 107 SCHAEFER Street 3B Brooklyn, NY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: One‑bedroom condominium with 739 SF of living space; Private balcony included with Residence 3B; White oak flooring, PrinceStone tile, and Calacatta Idillio quartz
