Building Details

Building Size 1,000 SF

Year Built 1929

Listing Agency: a***@gmail.com Show Phone

Listed By: Avi Dubin

Source: Elliman

Added: Nov 28, 2025 Changed: Aug 9 Last Checked: Aug 20 at 11:48AM

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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 Avi Dubin

Investment Insights

Based on property information with market context.

This well-kept apartment in Woodmere features 2 bedrooms and 2 full bathrooms. The unit includes a foyer, living room, and an eat-in kitchen. The two large bedrooms are filled with natural light. There is ample closet space and flooring throughout. The apartment is located in a well-maintained, pet-friendly elevator building that includes a laundry facility. The building is situated in a desirable Woodmere location.

Key Highlights

• Well‑maintained, pet‑friendly elevator building with laundry facility.
• Two large bedrooms filled with natural light.**
• Two full bathrooms.

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

$17,837

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

4.47%

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%

$356,740 $356.7K

Cap Rate 7%

$254,814 $254.8K

Cap Rate 9%

$198,189 $198.2K

Market Conditions

NOI Build-Up for 1,000 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

$34.0K $33.96/SF

− Vacancy

−$1.5K −$1.53/SF

EGI

$32.4K $32.43/SF

− OpEx

−$14.6K −$14.59/SF

NOI

$17.8K $17.84/SF

Area

Nassau County, NY

Vacancy

4.50%

Lease Rate

$33.96 /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%

$356,740

Cap Rate 7%

$254,814

Cap Rate 9%

$198,189

Alternative Uses

Best Use

Apartment 5plus

$254.8K

$223.0K – $297.3K (±1% cap)

NOI $17,837 @ 7.0% cap · market cap 4.47%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$661.2K

$578.5K – $771.4K (±1% cap)

NOI $46,283 @ 7.0% cap · market cap 11.60%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Apartment buildings

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Daycare Center Bar & Pub Food Market Carpet & Flooring Store Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,975

Businesses Nearby

Explore this area Business Placement

Demographics for 11598, NY

14,515

Population

4,079

Households

3.6

Avg Household Size

34

Median Age

71%

College-Educated

94%

High-School Grad

1.9 sq mi

ZIP Area

7,639

Density / Sq Mi

$181,574

Median Household Income

$77,237

Median Earnings

$2,405

Median Rent

$1,000,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Apartment building - Well-kept 2BR/2Bath apartment in pet-friendly Woodmere elevator building.

Where is this apartment building located?

The property is located at 141 Wyckoff Pl 2E Woodmere, NY.

What is the asking price?

The asking price for this property is $399,000.

What are key features of this property?

This property features: Well‑maintained, pet‑friendly elevator building with laundry facility.; Two large bedrooms filled with natural light.**; Two full bathrooms.