Studio Duplex with Private
For Sale
$695,000
26 Goodwin Place 1R, Brooklyn, NY 11221
2018-built studio duplex with in-unit washer and dryer, split-system heating and cooling, plus direct access to a private backyard.
Property Size975 SF
Price / SF$712.82
Days on Market71
Property Features for 26 Goodwin Place 1R
General Information
Standard status
Active
Size
975 SF
Property subtype
Apartment
Units
Unit Mix
1 x studio duplex
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,216
Amenities
in-unit washer/dryer
split-system heating and cooling
wide-plank flooring
private outdoor patio
private backyard
Building Details
Building Size
975 SF
Year Built
2018
Listing Agency:
Corcoran Group
(862) 823-2674
Listed By:
Daniel Cohen · License #10401261296
(862) 823-2674
Source:
Cbwarburg
Added: Jun 1
Changed: Aug 8
Last Checked: Aug 9 at 11:32AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
Studio duplex Unit 1R at 26 Goodwin Place is a 2018-built, single-unit residence offering 975 square feet of interior living space. The main level features a bright living and dining area with oversized windows and an open kitchen with warm wood-grain cabinetry, stone countertops, stainless steel appliances, and open shelving. The beautifully finished bathroom includes oversized tilework, a floating vanity, and a walk-in shower with a rainfall fixture.
A staircase leads to an expansive lower level with over 30 feet of flexible recreation space, suited to a variety of uses such as a sleeping area, media room, home office, fitness space, or studio. The home also provides direct access to a private 411-square-foot backyard for outdoor dining, entertaining, or relaxing.
Additional conveniences include in-unit washer and dryer, split-system heating and cooling, wide-plank flooring, and generous storage throughout.
A staircase leads to an expansive lower level with over 30 feet of flexible recreation space, suited to a variety of uses such as a sleeping area, media room, home office, fitness space, or studio. The home also provides direct access to a private 411-square-foot backyard for outdoor dining, entertaining, or relaxing.
Additional conveniences include in-unit washer and dryer, split-system heating and cooling, wide-plank flooring, and generous storage throughout.
Key Highlights
- 2018‑built studio duplex residence in 26 Goodwin Place
- 975 square feet of interior living space
- Lower level offers over 30 feet of flexible recreation space
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
$29,766
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
4.28%
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%
$595,320
$595.3K
Cap Rate 7%
$425,229
$425.2K
Cap Rate 9%
$330,733
$330.7K
Market Conditions
NOI Build-Up for 975 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
$55.2K $56.64/SF
− Vacancy
−$1.1K −$1.13/SF
EGI
$54.1K $55.51/SF
− OpEx
−$24.4K −$24.98/SF
NOI
$29.8K $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%
$595,320
Cap Rate 7%
$425,229
Cap Rate 9%
$330,733
Alternative Uses
Best Use
Apartment 5plus
$425.2K
$372.1K – $496.1K
NOI $29,766 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$807.3K
$706.4K – $941.9K
NOI $56,511 @ 7.0% cap · market cap 8.13%
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
4,026
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 - 2018-built studio duplex with in-unit washer and dryer, split-system heating and cooling, plus direct access to a private backyard.
Where is this residential income property located?
The property is located at 26 Goodwin Place 1R Brooklyn, NY.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 2018‑built studio duplex residence in 26 Goodwin Place; 975 square feet of interior living space; Lower level offers over 30 feet of flexible recreation space
