Residential Income Property with Rooftop
For Sale
$495,000
Pending
26 Goodwin Place 4R, Brooklyn, NY 11221
One-bedroom, one-bath unit with in-unit washer and dryer and split-system heating and cooling, built in 2018.
Property Size575 SF
Days on Market68
Property Features for 26 Goodwin Place 4R
General Information
Standard status
Pending
Size
575 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,428
Amenities
common rooftop terrace
in-unit washer and dryer
Building Details
Building Size
575 SF
Year Built
2018
Listing Agency:
Corcoran Group
(862) 823-2674
Listed By:
Daniel Cohen · License #10401261296
(862) 823-2674
Source:
Cbwarburg
Added: Jun 4
Changed: Aug 8
Last Checked: Aug 9 at 11:14AM
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.
Unit 4R at 26 Goodwin Place is a one-bedroom, one-bath residence within a residential income property, built in 2018. The home spans 575 square feet and features an expansive living and dining area with oversized windows for natural light. A rear-positioned kitchen includes custom cabinetry, stone countertops, and stainless steel appliances, along with ample storage. The bedroom is tucked away from the main living space and includes a large closet. The bathroom offers oversized tile, a floating wood vanity, and a walk-in rain shower.
Additional in-home conveniences include wide-plank oak flooring, split-system heating and cooling, and an in-unit washer and dryer. Residents also have access to a common rooftop terrace with skyline and treetop views.
For commuting, the property provides convenient access to the J, Z, and L trains.
Additional in-home conveniences include wide-plank oak flooring, split-system heating and cooling, and an in-unit washer and dryer. Residents also have access to a common rooftop terrace with skyline and treetop views.
For commuting, the property provides convenient access to the J, Z, and L trains.
Key Highlights
- One‑bedroom, one‑bath unit in a residential income property built in 2018
- 575 square feet with living and dining area plus oversized windows
- Kitchen with custom cabinetry, stone countertops, and stainless steel appliances
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
$17,554
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
3.55%
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%
$351,080
$351.1K
Cap Rate 7%
$250,771
$250.8K
Cap Rate 9%
$195,044
$195.0K
Market Conditions
NOI Build-Up for 575 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
$32.6K $56.64/SF
− Vacancy
−$651 −$1.13/SF
EGI
$31.9K $55.51/SF
− OpEx
−$14.4K −$24.98/SF
NOI
$17.6K $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%
$351,080
Cap Rate 7%
$250,771
Cap Rate 9%
$195,044
Alternative Uses
Best Use
Apartment 5plus
$250.8K
$219.4K – $292.6K
NOI $17,554 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$476.1K
$416.6K – $555.5K
NOI $33,327 @ 7.0% cap · market cap 6.73%
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 - One-bedroom, one-bath unit with in-unit washer and dryer and split-system heating and cooling, built in 2018.
Where is this residential income property located?
The property is located at 26 Goodwin Place 4R Brooklyn, NY.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: One‑bedroom, one‑bath unit in a residential income property built in 2018; 575 square feet with living and dining area plus oversized windows; Kitchen with custom cabinetry, stone countertops, and stainless steel appliances
