Three-Bedroom Residential Income
For Sale
$829,000
219 Weirfield Street 3, Brooklyn, NY 11221
Third-floor residence with a shared roof deck, virtual doorman, and basement laundry room.
Property Size945 SF
Price / SF$877.25
Days on Market14
Property Features for 219 Weirfield Street 3
General Information
Standard status
Active
Size
945 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$3,852
Building Details
Building Size
945 SF
Year Built
2018
Listing Agency:
R New York
Listed By:
Tatyana Salvatore
(917) 344-0205
Source:
Nilelundgren
Added: Sep 9
Changed: Sep 21
Last Checked: Sep 21 at 8:59AM
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 R New York
Investment Insights
Based on property information with market context.
Apartment 3 is a 945-square-foot, third-floor residence completed in 2018 with three bedrooms and one bathroom. The interior features an open layout, oversized windows, premium flooring, custom closet storage, and a separate dining area. Its kitchen includes stainless steel appliances, quartz countertops, and a distinctive tile backsplash.
Building amenities include a virtual doorman, basement laundry room, and shared roof deck. The property is located on Weirfield Street in Brooklyn’s Bushwick neighborhood, adjacent to Irving Square Park. The Halsey Street L train station is within walking distance and provides an approximately 20-minute ride to Manhattan.
Building amenities include a virtual doorman, basement laundry room, and shared roof deck. The property is located on Weirfield Street in Brooklyn’s Bushwick neighborhood, adjacent to Irving Square Park. The Halsey Street L train station is within walking distance and provides an approximately 20-minute ride to Manhattan.
Key Highlights
- 945‑square‑foot third‑floor residence with 3 bedrooms and 1 bathroom
- Completed in 2018
- Open layout with separate dining area and oversized windows
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
$28,850
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
3.48%
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%
$577,000
$577.0K
Cap Rate 7%
$412,143
$412.1K
Cap Rate 9%
$320,556
$320.6K
Market Conditions
NOI Build-Up for 945 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
$53.5K $56.64/SF
− Vacancy
−$1.1K −$1.13/SF
EGI
$52.5K $55.51/SF
− OpEx
−$23.6K −$24.98/SF
NOI
$28.8K $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%
$577,000
Cap Rate 7%
$412,143
Cap Rate 9%
$320,556
Alternative Uses
Best Use
Apartment 5plus
$412.1K
$360.6K – $480.8K
NOI $28,850 @ 7.0% cap · market cap 3.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$782.5K
$684.7K – $912.9K
NOI $54,772 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,398
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Third-floor residence with a shared roof deck, virtual doorman, and basement laundry room.
Where is this residential income property located?
The property is located at 219 Weirfield Street 3 Brooklyn, NY.
What is the asking price?
The asking price for this property is $829,000.
What are key features of this property?
This property features: 945‑square‑foot third‑floor residence with 3 bedrooms and 1 bathroom; Completed in 2018; Open layout with separate dining area and oversized windows
