Residential Income Property with Roof
For Sale
$595,000
245 Schaefer Street 2A, Brooklyn, NY 11207
One-bedroom residential property with open living areas, private outdoor space, and shared building amenities.
Property Size599 SF
Price / SF$993.32
Days on Market32
Property Features for 245 Schaefer Street 2A
General Information
Standard status
Active
Size
599 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$5,928
Amenities
Juliet balcony
common outdoor space
roof deck
gym
in-unit washer/dryer
video intercom
storage unit
Building Details
Building Size
599 SF
Year Built
2018
Listing Agency:
Compass
Listed By:
William Davis
(646) 461-6633
Source:
Miradorrealestate
Added: Sep 8
Changed: Oct 8
Last Checked: Oct 7 at 6:16PM
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 599-square-foot residential income property is a 1-bedroom, 1-bathroom condo in a low-rise building completed in 2018. The three-room layout combines living and dining areas, with hardwood flooring throughout and a modern kitchen featuring stainless steel appliances and ample cabinetry. A Juliet balcony adds private outdoor space, while an in-unit washer/dryer, video intercom, and private storage support daily use.
Building amenities include a gym, common outdoor areas, and a shared roof deck. The property is located at 245 Schaefer Street in Brooklyn’s Bushwick neighborhood, with the address identified as unit 2A.
Building amenities include a gym, common outdoor areas, and a shared roof deck. The property is located at 245 Schaefer Street in Brooklyn’s Bushwick neighborhood, with the address identified as unit 2A.
Key Highlights
- 599 square feet with 3 rooms
- 1‑bedroom, 1‑bathroom condo in a low‑rise building
- Completed in 2018
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,287
Cap Rate
3.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$365,740
$365.7K
Cap Rate 7%
$261,243
$261.2K
Cap Rate 9%
$203,189
$203.2K
Market Conditions
NOI Build-Up for 599 SF
Gross rent
$33.9K $56.64/SF
− Vacancy
−$679 −$1.13/SF
EGI
$33.2K $55.51/SF
− OpEx
−$15.0K −$24.98/SF
NOI
$18.3K $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 Rate 5%
$365,740
Cap Rate 7%
$261,243
Cap Rate 9%
$203,189
Alternative Uses
Best Use
Apartment 5plus
$261.2K
$228.6K – $304.8K
NOI $18,287 @ 7.0% cap · market cap 3.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$496.0K
$434.0K – $578.6K
NOI $34,718 @ 7.0% cap · market cap 5.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,577
Businesses Nearby
Explore this area
Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom residential property with open living areas, private outdoor space, and shared building amenities.
Where is this residential income property located?
The property is located at 245 Schaefer Street 2A Brooklyn, NY.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 599 square feet with 3 rooms; 1‑bedroom, 1‑bathroom condo in a low‑rise building; Completed in 2018
