Renovated Multifamily
New
For Sale
$1,350,000
1119 Madison St, Brooklyn, NY 11221
Renovated interiors include an open kitchen, finished basement, private yard, and in-unit laundry.
Property Size1,812 SF
Price / SF$745.03
Days on Market5
Property Features for 1119 Madison St
General Information
Standard status
Active
Size
1,812 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,904
Amenities
private yard
security system
video surveillance
Building Details
Building Size
1,812 SF
Year Built
1905
Stories
3
Units
2
Listing Agency:
(513) 919-7626
Listed By:
Casey Weissbuch · License #10401320516 (NY)
(513) 919-7626
Source:
Elliman
Added: Aug 19
Changed: Aug 22
Last Checked: Aug 23 at 6:18AM
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 Casey Weissbuch
Investment Insights
Based on property information with market context.
This 1,812-square-foot multifamily townhouse at 1119 Madison St features 8 rooms, 3 bedrooms, and 1.5 bathrooms. Renovated interiors include hardwood flooring, recessed lighting, oversized windows, and a contemporary kitchen with an open plan, breakfast bar or island, refrigerator, and dishwasher. The bathrooms offer updated finishes, a double-sink vanity, and a soaking tub.
A finished basement expands the usable space, while the primary bedroom includes custom storage. Central air conditioning, an in-unit washer and dryer, private yard, security system, and video surveillance add practical functionality. The property was built in 1905 and has bike, walk, and transit scores of 86, 86, and 98, respectively.
A finished basement expands the usable space, while the primary bedroom includes custom storage. Central air conditioning, an in-unit washer and dryer, private yard, security system, and video surveillance add practical functionality. The property was built in 1905 and has bike, walk, and transit scores of 86, 86, and 98, respectively.
Key Highlights
- 1,812 square feet with 8 rooms, 3 bedrooms, and 1.5 bathrooms
- Renovated kitchen with open layout, breakfast bar or island, refrigerator, and dishwasher
- Finished basement provides additional usable space
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
$55,318
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
4.10%
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%
$1,106,360
$1.1M
Cap Rate 7%
$790,257
$790.3K
Cap Rate 9%
$614,644
$614.6K
Market Conditions
NOI Build-Up for 1,812 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
$102.6K $56.64/SF
− Vacancy
−$2.1K −$1.13/SF
EGI
$100.6K $55.51/SF
− OpEx
−$45.3K −$24.98/SF
NOI
$55.3K $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%
$1,106,360
Cap Rate 7%
$790,257
Cap Rate 9%
$614,644
Alternative Uses
Best Use
Apartment 5plus
$790.3K
$691.5K – $922.0K
NOI $55,318 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.50M
$1.31M – $1.75M
NOI $105,024 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,740
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?
Multifamily property - Renovated interiors include an open kitchen, finished basement, private yard, and in-unit laundry.
Where is this multifamily property located?
The property is located at 1119 Madison St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 1,812 square feet with 8 rooms, 3 bedrooms, and 1.5 bathrooms; Renovated kitchen with open layout, breakfast bar or island, refrigerator, and dishwasher; Finished basement provides additional usable space
