Renovated Residential Income
For Sale
$410,000
1289 E 19th Street B3, Brooklyn, NY 11230
Two-bedroom co-op residence in a prewar elevator building with updated interiors and preserved parquet flooring.
Property Size987 SF
Price / SF$415.40
Days on Market161
Property Features for 1289 E 19th Street B3
General Information
Standard status
Active
Size
987 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Building Details
Building Size
987 SF
Year Built
1931
Listing Agency:
RE Max Edge Group
(718) 612-3088
Listed By:
Faig Mikayilov · License #10301220271
(718) 612-3088
Source:
Howardhannanyc
Added: Mar 21
Changed: Aug 26
Last Checked: Aug 26 at 2:31PM
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 RE Max Edge Group
Investment Insights
Based on property information with market context.
This 987-square-foot, two-bedroom, one-bath co-op occupies the second floor of a prewar elevator building completed in 1931. Interior improvements include a recently updated kitchen with modern appliances, white cabinetry, and quartz countertops, while original parquet floors remain throughout. The apartment also offers substantial closet storage and an open, comfortable layout.
The property is located at 1289 E 19th Street in Brooklyn’s Midwood area, near Avenue M. Supermarkets, retail shops, restaurants, and public transportation are nearby, including the Q and B subway lines and multiple bus routes. Building features include a live-in superintendent. The sale is identified as a sponsor sale with no board approval required, and showings are available by appointment.
The property is located at 1289 E 19th Street in Brooklyn’s Midwood area, near Avenue M. Supermarkets, retail shops, restaurants, and public transportation are nearby, including the Q and B subway lines and multiple bus routes. Building features include a live-in superintendent. The sale is identified as a sponsor sale with no board approval required, and showings are available by appointment.
Key Highlights
- 987‑square‑foot, two‑bedroom, one‑bath co‑op apartment
- Second‑floor residence in an elevator building completed in 1931
- Updated kitchen with modern appliances, white cabinetry, and quartz countertops
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
$30,132
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
7.35%
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%
$602,640
$602.6K
Cap Rate 7%
$430,457
$430.5K
Cap Rate 9%
$334,800
$334.8K
Market Conditions
NOI Build-Up for 987 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
$55.9K $56.64/SF
− Vacancy
−$1.1K −$1.13/SF
EGI
$54.8K $55.51/SF
− OpEx
−$24.7K −$24.98/SF
NOI
$30.1K $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%
$602,640
Cap Rate 7%
$430,457
Cap Rate 9%
$334,800
Alternative Uses
Best Use
Apartment 5plus
$430.5K
$376.7K – $502.2K
NOI $30,132 @ 7.0% cap · market cap 7.35%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$817.2K
$715.1K – $953.5K
NOI $57,207 @ 7.0% cap · market cap 13.95%
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
4,326
Businesses Nearby
Explore this area
Business Placement
Demographics for 11230, NY
91,391
Population
34,269
Households
2.7
Avg Household Size
35
Median Age
44%
College-Educated
82%
High-School Grad
1.8 sq mi
ZIP Area
50,773
Density / Sq Mi
$69,522
Median Household Income
$43,135
Median Earnings
$1,734
Median Rent
$863,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom co-op residence in a prewar elevator building with updated interiors and preserved parquet flooring.
Where is this residential income property located?
The property is located at 1289 E 19th Street B3 Brooklyn, NY.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: 987‑square‑foot, two‑bedroom, one‑bath co‑op apartment; Second‑floor residence in an elevator building completed in 1931; Updated kitchen with modern appliances, white cabinetry, and quartz countertops
