Residential Income Property with Roof
For Sale
$449,000
1462 FLATBUSH Avenue 3D, Brooklyn, NY 11210
Contemporary condominium residence with private outdoor space and extensive shared amenities.
Property Size590 SF
Price / SF$761.02
Days on Market145
Property Features for 1462 FLATBUSH Avenue 3D
General Information
Standard status
Active
Size
590 SF
Elevators
Yes
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
private balconies or terraces
in-unit washer/dryer
video intercom
furnished lobby
package room
resident lounge
landscaped garden
dog run
roof deck
fitness center
bike storage
resident storage
Building Details
Building Size
590 SF
Year Built
2023
Listing Agency:
Corcoran Group
Listed By:
Joseph Czyzewski · License #10401383690
(646) 296-7199
Source:
Miradorrealestate
Added: Apr 16
Changed: Aug 31
Last Checked: Sep 6 at 10:17AM
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 3D is part of the Avanti, a 45-unit condominium completed in 2023 at 1462 Flatbush Avenue in Brooklyn. The homes feature private balconies or terraces, double-pane Pella windows and doors, wide-plank flooring, contemporary kitchens with white quartz counters and stainless-steel appliances, and bathrooms with soaking tubs and rain showers. Zoned heating and cooling, combination washer-dryers, and video intercom systems are included in the residential design.
Shared amenities include a furnished lobby with package room, resident lounge, landscaped garden with dining and seating areas, dog run, fitness center, bike storage, resident storage, elevator, and an open roof deck with Brooklyn and Manhattan views. The property is identified as a residential income property and carries the 1462 Flatbush Avenue Condominium offering designation, File No. CD 220018.
Shared amenities include a furnished lobby with package room, resident lounge, landscaped garden with dining and seating areas, dog run, fitness center, bike storage, resident storage, elevator, and an open roof deck with Brooklyn and Manhattan views. The property is identified as a residential income property and carries the 1462 Flatbush Avenue Condominium offering designation, File No. CD 220018.
Key Highlights
- Part of the 45‑unit Avanti condominium
- Completed in 2023 at 1462 Flatbush Avenue, Brooklyn, NY 11210
- Private balcony or terrace included with each residence
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
$18,012
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
4.01%
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%
$360,240
$360.2K
Cap Rate 7%
$257,314
$257.3K
Cap Rate 9%
$200,133
$200.1K
Market Conditions
NOI Build-Up for 590 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
$33.4K $56.64/SF
− Vacancy
−$668 −$1.13/SF
EGI
$32.7K $55.51/SF
− OpEx
−$14.7K −$24.98/SF
NOI
$18.0K $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%
$360,240
Cap Rate 7%
$257,314
Cap Rate 9%
$200,133
Alternative Uses
Best Use
Apartment 5plus
$257.3K
$225.2K – $300.2K
NOI $18,012 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$488.5K
$427.5K – $569.9K
NOI $34,196 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
11,936
Businesses Nearby
Explore this area
Business Placement
Demographics for 11210, NY
62,805
Population
22,817
Households
2.8
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
39,253
Density / Sq Mi
$83,261
Median Household Income
$50,286
Median Earnings
$1,734
Median Rent
$817,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Contemporary condominium residence with private outdoor space and extensive shared amenities.
Where is this residential income property located?
The property is located at 1462 FLATBUSH Avenue 3D Brooklyn, NY.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Part of the 45‑unit Avanti condominium; Completed in 2023 at 1462 Flatbush Avenue, Brooklyn, NY 11210; Private balcony or terrace included with each residence
