Corner Residential Income
For Sale
$450,000
1717 E 18th Street 5B, Brooklyn, NY 11229
Two-bedroom corner residence with renovated interiors, hardwood floors, and access to full-service cooperative amenities.
Property Size900 SF
Price / SF$500
Days on Market29
Property Features for 1717 E 18th Street 5B
General Information
Standard status
Active
Size
900 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
doorman
laundry facilities
community room
storage units
garage
FIOS
pet-friendly
Building Details
Building Size
900 SF
Year Built
1957
Listing Agency:
Abacus Properties LLC
Listed By:
Cintra Batchoo
(718) 284-4400
Source:
Carlinwright
Added: Aug 10
Changed: Sep 3
Last Checked: Sep 7 at 7:48AM
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 Abacus Properties LLC
Investment Insights
Based on property information with market context.
Unit 5B at The Lamont is a 900-square-foot, two-bedroom corner residence in a 1957 elevator cooperative building. The home features a combined living and dining area, windowed kitchen with stainless steel appliances, dishwasher, pass-through, and substantial cabinetry, plus a renovated windowed bathroom. The primary bedroom accommodates a king-sized bed and includes double closets, while the second bedroom offers two exposures and a closet. Hardwood floors, through-wall AC units, tree-lined views, and western and southern exposures complete the interior.
Building amenities include a doorman, renovated lobby and hallways, upgraded elevators, laundry facilities, a community room, FIOS wiring, and a garage with a waitlist. Separate storage units are available for rent, and pets may be accepted on a case-by-case basis. The property is two blocks from the Kings Highway subway stop, with express B and local Q train service reaching Midtown in 35 minutes. Kings Highway shops, restaurants, and cafes are nearby, while Jacob Riis Park, The Rockaways, and Marine Park Salt Marsh Center are a short drive away.
Building amenities include a doorman, renovated lobby and hallways, upgraded elevators, laundry facilities, a community room, FIOS wiring, and a garage with a waitlist. Separate storage units are available for rent, and pets may be accepted on a case-by-case basis. The property is two blocks from the Kings Highway subway stop, with express B and local Q train service reaching Midtown in 35 minutes. Kings Highway shops, restaurants, and cafes are nearby, while Jacob Riis Park, The Rockaways, and Marine Park Salt Marsh Center are a short drive away.
Key Highlights
- 900‑square‑foot two‑bedroom corner unit at The Lamont
- 1957 cooperative building with doorman service and elevators
- Windowed kitchen with stainless steel appliances, dishwasher, pass‑through, and cabinet storage
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
$27,476
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
6.11%
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%
$549,520
$549.5K
Cap Rate 7%
$392,514
$392.5K
Cap Rate 9%
$305,289
$305.3K
Market Conditions
NOI Build-Up for 900 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
$51.0K $56.64/SF
− Vacancy
−$1.0K −$1.13/SF
EGI
$50.0K $55.51/SF
− OpEx
−$22.5K −$24.98/SF
NOI
$27.5K $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%
$549,520
Cap Rate 7%
$392,514
Cap Rate 9%
$305,289
Alternative Uses
Best Use
Apartment 5plus
$392.5K
$343.5K – $457.9K
NOI $27,476 @ 7.0% cap · market cap 6.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$745.2K
$652.1K – $869.4K
NOI $52,164 @ 7.0% cap · market cap 11.59%
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
4,779
Businesses Nearby
Explore this area
Business Placement
Demographics for 11229, NY
83,669
Population
33,353
Households
2.5
Avg Household Size
40
Median Age
41%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
41,835
Density / Sq Mi
$72,556
Median Household Income
$52,948
Median Earnings
$1,666
Median Rent
$812,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom corner residence with renovated interiors, hardwood floors, and access to full-service cooperative amenities.
Where is this residential income property located?
The property is located at 1717 E 18th Street 5B Brooklyn, NY.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 900‑square‑foot two‑bedroom corner unit at The Lamont; 1957 cooperative building with doorman service and elevators; Windowed kitchen with stainless steel appliances, dishwasher, pass‑through, and cabinet storage
