Brownstone Income Property with
For Sale
$1,999,000
613 Jefferson Ave, Brooklyn, NY 11221
Three-story plus garden-level brownstone built in 1899, configured for three residences and featuring a spacious backyard.
Property Size3,600 SF
Lot Size0.05 Acres
Price / SF$555.28
Days on Market118
Property Features for 613 Jefferson Ave
General Information
Standard status
Active
Size
3,600 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,038
Amenities
backyard
Building Details
Year Built
1899
Stories
4
Construction
brownstone
Tenancy
Multi
Listing Agency:
Revived Residential
(929) 379-3750
Listed By:
Robert J. Burnett
(929) 379-3750
Source:
Elliman
Added: Apr 28
Changed: Aug 23
Last Checked: Aug 23 at 9:57AM
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.
Built in 1899, this three-story plus garden-level brownstone offers residential income potential in a four-level layout. The building is currently in SRO status, and the CO reads as “SRO, 1-family with 7 furnished rooms.” It is configured as a three-family residence, with the first floor duplexed with the garden level and separate 1-bedroom, 1-bath floor-through units on the 2nd and 3rd floors. The property includes 4 electrical meters, 3 gas meters, and 3 kitchens.
The building sits on a 20' x 100' lot with building dimensions of approximately 20' x 45', totaling roughly 3,600 square feet across four levels. A spacious backyard is also included.
For prospective owners, this is a flexible Brooklyn residential income property with multiple unit configurations and outdoor space.
The building sits on a 20' x 100' lot with building dimensions of approximately 20' x 45', totaling roughly 3,600 square feet across four levels. A spacious backyard is also included.
For prospective owners, this is a flexible Brooklyn residential income property with multiple unit configurations and outdoor space.
Key Highlights
- Brownstone built in 1899, three‑story plus garden level with approx. 3,600 SF across four levels
- Sits on a 20’ x 100’ lot with approx. 20’ x 45’ building dimensions
- Currently in SRO status: CO reads SRO, 1‑family with 7 furnished rooms
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
$126,078
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
6.31%
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%
$2,521,560
$2.5M
Cap Rate 7%
$1,801,114
$1.8M
Cap Rate 9%
$1,400,867
$1.4M
Market Conditions
NOI Build-Up for 3,600 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
$183.6K $51.00/SF
− Vacancy
−$3.5K −$0.97/SF
EGI
$180.1K $50.03/SF
− OpEx
−$54.0K −$15.01/SF
NOI
$126.1K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,521,560
Cap Rate 7%
$1,801,114
Cap Rate 9%
$1,400,867
Alternative Uses
Best Use
Multifamily LT 5
$1.80M
$1.58M – $2.10M
NOI $126,078 @ 7.0% cap · market cap 6.31%
Second Best
Apartment 5plus
$1.57M
$1.37M – $1.83M
NOI $109,904 @ 7.0% cap · market cap 5.50%
Theoretical Best
Specialty Retail
$2.98M
$2.61M – $3.48M
NOI $208,656 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,518
Businesses Nearby
Explore this area
Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-story plus garden-level brownstone built in 1899, configured for three residences and featuring a spacious backyard.
Where is this triplex located?
The property is located at 613 Jefferson Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Brownstone built in 1899, three‑story plus garden level with approx. 3,600 SF across four levels; Sits on a 20’ x 100’ lot with approx. 20’ x 45’ building dimensions; Currently in SRO status: CO reads SRO, 1‑family with 7 furnished rooms
