Two-Bedroom Duplex Residential
For Sale
$649,999
223 Pulaski Street 1, Brooklyn, NY 11206
A renovated condominium residence pairs a main-level bedroom and full bath with a flexible lower level, powder room, and in-unit laundry.
Property Size900 SF
Price / SF$722.22
Days on Market8
Property Features for 223 Pulaski Street 1
General Information
Standard status
Active
Size
900 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/1.5BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,340
Amenities
in-unit washer/dryer
rainfall shower
deep soaking tub
Building Details
Building Size
900 SF
Year Built
2015
Listing Agency:
Compass
Listed By:
max sherman · License #10401287888
(212) 913-9058
Source:
Miradorrealestate
Added: Sep 24
Changed: Sep 29
Last Checked: Sep 30 at 2:36PM
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 Compass
Investment Insights
Based on property information with market context.
This 900-square-foot duplex condominium at 223 Pulaski Street, Unit 1, was built in 2015 and has been renovated. The two-bedroom flex layout includes 1.5 bathrooms, a main-level primary bedroom, and an expansive lower level with a dedicated home office. The kitchen has oak cabinetry, Caesarstone countertops, and Fisher & Paykel and Bosch stainless steel appliances. A washer and dryer are located in the unit.
The property is near the Myrtle-Willoughby G and Myrtle Avenue J/M/Z subway stations. Herbert Von King Park, neighborhood cafes, restaurants, and fitness studios are also nearby.
The property is near the Myrtle-Willoughby G and Myrtle Avenue J/M/Z subway stations. Herbert Von King Park, neighborhood cafes, restaurants, and fitness studios are also nearby.
Key Highlights
- 900‑square‑foot duplex condominium
- Two‑bedroom flex layout with 1.5 bathrooms
- Renovated; building constructed in 2015
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
4.23%
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 4.23%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$745.2K
$652.1K – $869.4K
NOI $52,164 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,877
Businesses Nearby
Explore this area
Business Placement
Demographics for 11206, NY
91,549
Population
34,838
Households
2.6
Avg Household Size
30
Median Age
36%
College-Educated
77%
High-School Grad
1.4 sq mi
ZIP Area
65,392
Density / Sq Mi
$57,280
Median Household Income
$44,145
Median Earnings
$1,558
Median Rent
$822,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A renovated condominium residence pairs a main-level bedroom and full bath with a flexible lower level, powder room, and in-unit laundry.
Where is this residential income property located?
The property is located at 223 Pulaski Street 1 Brooklyn, NY.
What is the asking price?
The asking price for this property is $649,999.
What are key features of this property?
This property features: 900‑square‑foot duplex condominium; Two‑bedroom flex layout with 1.5 bathrooms; Renovated; building constructed in 2015
