Residential Income Property with
For Sale
$699,000
1240 Bedford Avenue 4B, Brooklyn, NY 11216
Two-bedroom condo with an updated kitchen, Juliet balcony, elevator access, and on-site laundry facilities.
Property Size850 SF
Price / SF$822.35
Days on Market77
Property Features for 1240 Bedford Avenue 4B
General Information
Standard status
Active
Size
850 SF
Total Parking Spaces
1
Elevators
Yes
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$504
Amenities
laundry facilities
bike racks
common courtyard
pet-friendly
renovated lobby
video intercom
security system
Building Details
Building Size
850 SF
Year Built
2003
Listing Agency:
Corcoran Group
(917) 626-6597
Listed By:
Quinn Hagstrand · License #10401212182 (NY)
(917) 626-6597
Source:
Howardhannanyc
Added: Jun 2
Changed: Aug 17
Last Checked: Aug 17 at 1:55PM
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 Corcoran Group
Investment Insights
Based on property information with market context.
Residence 4B is an 850-square-foot condominium with two bedrooms and one bathroom. The refreshed kitchen connects to an open living and dining area, while a Juliet balcony, multiple windows, and ample storage add practical features. The primary bedroom accommodates king-sized furniture, and the second bedroom is also generously proportioned. A dedicated parking space is included.
The 2003 building offers an elevator, laundry facilities, bike racks, a landscaped shared courtyard, and pet-friendly living. The lobby includes a video intercom and security system. A tax abatement remains in place through 2030. The property is one block from the A and C trains at Nostrand Avenue, with access to the S and G nearby. Franklin Avenue and Fulton Street provide nearby dining, cafés, gyms, grocers, cocktail bars, and green space.
The 2003 building offers an elevator, laundry facilities, bike racks, a landscaped shared courtyard, and pet-friendly living. The lobby includes a video intercom and security system. A tax abatement remains in place through 2030. The property is one block from the A and C trains at Nostrand Avenue, with access to the S and G nearby. Franklin Avenue and Fulton Street provide nearby dining, cafés, gyms, grocers, cocktail bars, and green space.
Key Highlights
- 850‑square‑foot condo with 2 bedrooms and 1 bathroom
- Dedicated parking space; one of only two units in the building with parking
- Updated kitchen opens to a bright living and dining area
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
$25,950
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
3.71%
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%
$519,000
$519.0K
Cap Rate 7%
$370,714
$370.7K
Cap Rate 9%
$288,333
$288.3K
Market Conditions
NOI Build-Up for 850 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
$48.1K $56.64/SF
− Vacancy
−$963 −$1.13/SF
EGI
$47.2K $55.51/SF
− OpEx
−$21.2K −$24.98/SF
NOI
$25.9K $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%
$519,000
Cap Rate 7%
$370,714
Cap Rate 9%
$288,333
Alternative Uses
Best Use
Apartment 5plus
$370.7K
$324.4K – $432.5K
NOI $25,950 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$703.8K
$615.8K – $821.1K
NOI $49,266 @ 7.0% cap · market cap 7.05%
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
6,299
Businesses Nearby
Explore this area
Business Placement
Demographics for 11216, NY
61,251
Population
28,825
Households
2.1
Avg Household Size
34
Median Age
56%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
61,251
Density / Sq Mi
$95,000
Median Household Income
$61,389
Median Earnings
$2,180
Median Rent
$1,398,400
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condo with an updated kitchen, Juliet balcony, elevator access, and on-site laundry facilities.
Where is this residential income property located?
The property is located at 1240 Bedford Avenue 4B Brooklyn, NY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 850‑square‑foot condo with 2 bedrooms and 1 bathroom; Dedicated parking space; one of only two units in the building with parking; Updated kitchen opens to a bright living and dining area
