Prewar Residential Income
For Sale
$485,000
2913 Foster Avenue 2G, Brooklyn, NY 11210
Three-bedroom co-op with elevator access, in-unit laundry, generous rooms, and convenient transit connections.
Property Size1,160 SF
Price / SF$418.10
Days on Market105
Property Features for 2913 Foster Avenue 2G
General Information
Standard status
Active
Size
1,160 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 3BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
in-unit laundry
dishwasher
on-site superintendent
Building Details
Building Size
1,160 SF
Year Built
1931
Buildings
1
Stories
6
Listing Agency:
Corcoran Group
Listed By:
Wilford A Nelson
(212) 470-8056
Source:
Howardhannanyc
Added: May 27
Changed: Sep 8
Last Checked: Sep 8 at 12:46PM
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.
This 3-bedroom, 1-bath co-op occupies an apartment in a 1931 prewar building with 54 units, six stories, and elevator service. The home features oversized bedrooms, 9-foot ceilings, hardwood floors, three exposures, and double exposures in the primary and secondary bedrooms. Its semi-galley kitchen includes stone countertops, wood cabinetry, a dishwasher, a window, and a breakfast bar. Additional improvements include an extra-large bathroom with a Jacuzzi tub and in-unit laundry.
The property is located at 2913 Foster Avenue in Brooklyn, one block from the 2/5 trains at Newkirk Avenue and near the B/Q trains at Newkirk Plaza. Flatbush Junction, Brooklyn College, Target, HomeGoods, grocery stores, banks, restaurants, and other services are nearby. The building has an on-site superintendent, allows cats and dogs up to 40 lbs., and permits subletting with board approval.
The property is located at 2913 Foster Avenue in Brooklyn, one block from the 2/5 trains at Newkirk Avenue and near the B/Q trains at Newkirk Plaza. Flatbush Junction, Brooklyn College, Target, HomeGoods, grocery stores, banks, restaurants, and other services are nearby. The building has an on-site superintendent, allows cats and dogs up to 40 lbs., and permits subletting with board approval.
Key Highlights
- 3‑bedroom, 1‑bath co‑op in a 1931 prewar building
- 54‑unit, six‑story elevator building with an on‑site superintendent
- 1,160 square feet with 9‑foot ceilings, hardwood floors, and three exposures
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
$35,414
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
7.30%
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%
$708,280
$708.3K
Cap Rate 7%
$505,914
$505.9K
Cap Rate 9%
$393,489
$393.5K
Market Conditions
NOI Build-Up for 1,160 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
$65.7K $56.64/SF
− Vacancy
−$1.3K −$1.13/SF
EGI
$64.4K $55.51/SF
− OpEx
−$29.0K −$24.98/SF
NOI
$35.4K $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%
$708,280
Cap Rate 7%
$505,914
Cap Rate 9%
$393,489
Alternative Uses
Best Use
Apartment 5plus
$505.9K
$442.7K – $590.2K
NOI $35,414 @ 7.0% cap · market cap 7.30%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$960.5K
$840.4K – $1.12M
NOI $67,234 @ 7.0% cap · market cap 13.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,912
Businesses Nearby
Explore this area
Business Placement
Demographics for 11210, NY
62,805
Population
22,817
Households
2.8
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
39,253
Density / Sq Mi
$83,261
Median Household Income
$50,286
Median Earnings
$1,734
Median Rent
$817,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom co-op with elevator access, in-unit laundry, generous rooms, and convenient transit connections.
Where is this residential income property located?
The property is located at 2913 Foster Avenue 2G Brooklyn, NY.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 3‑bedroom, 1‑bath co‑op in a 1931 prewar building; 54‑unit, six‑story elevator building with an on‑site superintendent; 1,160 square feet with 9‑foot ceilings, hardwood floors, and three exposures
