Residential Income Property with
For Sale
$1,195,000
185 13TH Street 1B, Brooklyn, NY 11215
Two-bedroom condominium residence with private outdoor space, natural light, and convenient subway access.
Property Size1,177 SF
Price / SF$1,015
Days on Market115
Property Features for 185 13TH Street 1B
General Information
Standard status
Active
Size
1,177 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/1.5BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
terrace
in-unit washer and dryer
radiant heated floors
Building Details
Building Size
1,177 SF
Year Built
2009
Listing Agency:
Douglas Elliman Real Estate
(646) 247-0822
Listed By:
Douglas M Bowen · License #10301217443
(646) 247-0822
Source:
Howardhannanyc
Added: Apr 30
Changed: Aug 21
Last Checked: Aug 21 at 11:31AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This residential income property is a two-bedroom condominium residence with one full bathroom and one powder room. The 1,177-square-foot interior includes an open kitchen with dark wood cabinetry, stone counters, glass tile backsplash, and stainless-steel appliances. Brazilian cherrywood flooring, floor-to-ceiling windows, an in-unit washer and dryer, generous closets, and a flexible bonus area add practical functionality. The home was built in 2009.
A two-level private terrace provides 650 square feet of outdoor space with room for dining, lounging, gardening, and entertaining. Both bedrooms open directly to the terrace through sliding glass doors. The property is located at 185 13TH Street 1B in Brooklyn, NY 11215, near the F, G, and R subway lines and between Gowanus and Park Slope. Nearby context includes Prospect Park, neighborhood restaurants, cafés, boutiques, and cultural venues.
A two-level private terrace provides 650 square feet of outdoor space with room for dining, lounging, gardening, and entertaining. Both bedrooms open directly to the terrace through sliding glass doors. The property is located at 185 13TH Street 1B in Brooklyn, NY 11215, near the F, G, and R subway lines and between Gowanus and Park Slope. Nearby context includes Prospect Park, neighborhood restaurants, cafés, boutiques, and cultural venues.
Key Highlights
- 1,177‑square‑foot two‑bedroom condominium residence
- 650 square feet of private, two‑level outdoor space
- Floor‑to‑ceiling windows and Brazilian cherrywood flooring
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
$35,933
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
3.01%
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%
$718,660
$718.7K
Cap Rate 7%
$513,329
$513.3K
Cap Rate 9%
$399,256
$399.3K
Market Conditions
NOI Build-Up for 1,177 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
$66.7K $56.64/SF
− Vacancy
−$1.3K −$1.13/SF
EGI
$65.3K $55.51/SF
− OpEx
−$29.4K −$24.98/SF
NOI
$35.9K $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%
$718,660
Cap Rate 7%
$513,329
Cap Rate 9%
$399,256
Alternative Uses
Best Use
Apartment 5plus
$513.3K
$449.2K – $598.9K
NOI $35,933 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$974.6K
$852.7K – $1.14M
NOI $68,219 @ 7.0% cap · market cap 5.71%
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
5,816
Businesses Nearby
Explore this area
Business Placement
Demographics for 11215, NY
67,493
Population
32,197
Households
2.1
Avg Household Size
37
Median Age
80%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
30,679
Density / Sq Mi
$180,773
Median Household Income
$99,151
Median Earnings
$2,803
Median Rent
$1,674,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium residence with private outdoor space, natural light, and convenient subway access.
Where is this residential income property located?
The property is located at 185 13TH Street 1B Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: 1,177‑square‑foot two‑bedroom condominium residence; 650 square feet of private, two‑level outdoor space; Floor‑to‑ceiling windows and Brazilian cherrywood flooring
