Residential Income Property with
For Sale
$585,000
215 Parkville Avenue 3-B, Brooklyn, NY 11230
Condominium residence in an elevator building with private outdoor space, modern finishes, and in-unit laundry.
Property Size840 SF
Price / SF$696.43
Days on Market10
Property Features for 215 Parkville Avenue 3-B
General Information
Standard status
Active
Size
840 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,084
Amenities
balcony
stainless steel appliances
granite countertops
in-unit washer/dryer
central air conditioning
hardwood floors
pet-friendly
Building Details
Building Size
840 SF
Year Built
2007
Listing Agency:
Nest Seekers LLC
Listed By:
Soslan Tkhagapsoev
(917) 702-6618
Source:
Miradorrealestate
Added: Sep 1
Changed: Sep 6
Last Checked: Sep 10 at 7:06AM
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 Nest Seekers LLC
Investment Insights
Based on property information with market context.
This 840-square-foot condominium residence was built in 2007 and features two bedrooms and two bathrooms. French doors open to a private balcony, while hardwood floors, central air conditioning, and sun-filled interiors define the living spaces. The kitchen includes stainless steel appliances, granite countertops, a double sink, and substantial cabinet storage. The primary bedroom has an en-suite bathroom and reach-in closet, and the second bedroom includes a large closet and chair rail detailing. An LG washer and dryer are located in the unit.
The property is at 215 Parkville Avenue in Brooklyn, NY, within a pet-friendly building. Transit access includes the F train and express B/Q lines, providing convenient connections through the area.
The property is at 215 Parkville Avenue in Brooklyn, NY, within a pet-friendly building. Transit access includes the F train and express B/Q lines, providing convenient connections through the area.
Key Highlights
- 840‑square‑foot condominium residence with 2 bedrooms and 2 bathrooms
- Private balcony accessed through French doors
- Elevator building completed in 2007
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
$25,644
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
4.38%
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%
$512,880
$512.9K
Cap Rate 7%
$366,343
$366.3K
Cap Rate 9%
$284,933
$284.9K
Market Conditions
NOI Build-Up for 840 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
$47.6K $56.64/SF
− Vacancy
−$952 −$1.13/SF
EGI
$46.6K $55.51/SF
− OpEx
−$21.0K −$24.98/SF
NOI
$25.6K $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%
$512,880
Cap Rate 7%
$366,343
Cap Rate 9%
$284,933
Alternative Uses
Best Use
Apartment 5plus
$366.3K
$320.6K – $427.4K
NOI $25,644 @ 7.0% cap · market cap 4.38%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$695.5K
$608.6K – $811.4K
NOI $48,686 @ 7.0% cap · market cap 8.32%
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
4,456
Businesses Nearby
Explore this area
Business Placement
Demographics for 11230, NY
91,391
Population
34,269
Households
2.7
Avg Household Size
35
Median Age
44%
College-Educated
82%
High-School Grad
1.8 sq mi
ZIP Area
50,773
Density / Sq Mi
$69,522
Median Household Income
$43,135
Median Earnings
$1,734
Median Rent
$863,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence in an elevator building with private outdoor space, modern finishes, and in-unit laundry.
Where is this residential income property located?
The property is located at 215 Parkville Avenue 3-B Brooklyn, NY.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: 840‑square‑foot condominium residence with 2 bedrooms and 2 bathrooms; Private balcony accessed through French doors; Elevator building completed in 2007
