Brooklyn Corner Unit
For Sale
$389,000
2928 W 5th St 2C, Brooklyn, NY 11224
Spacious 2-bed, 1.5-bath corner unit in Trump Village West.
Property Size1,150 SF
Days on Market278
Property Features for 2928 W 5th St 2C
General Information
Standard status
Active
Size
1,150 SF
Property subtype
Residential
Building Details
Building Size
1,150 SF
Year Built
1964
Units
572
Listing Agency:
Womcore LLC dba Remax Edge
Listed By:
Olga Moldavsky · License #10301216091
(718) 612-3088
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 16
Last Checked: Sep 1 at 7:28PM
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 Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
This is a 2-bedroom, 1.5-bath corner unit located in Trump Village West in South Brooklyn. The unit requires some improvements. The building is near beaches, a boardwalk, and Astroland. Key Food and Netcoast supermarkets are nearby. The complex provides full-time live security, maintenance staff, recreation rooms, modern laundromats, lawns, and playgrounds. Parking is available for purchase immediately or via a waiting list. The complex is pet-friendly. The maintenance fee covers real estate taxes and all utilities, with an additional fee for air conditioning. The unit is vacant and ready for a new owner.
Key Highlights
- Largest corner unit in highly desirable Trump Village West complex.
- Price reflects need for TLC, presenting a value opportunity.
- Includes real estate taxes and all utilities in maintenance fee (except AC).
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
$35,108
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
9.03%
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%
$702,160
$702.2K
Cap Rate 7%
$501,543
$501.5K
Cap Rate 9%
$390,089
$390.1K
Market Conditions
NOI Build-Up for 1,150 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
$65.1K $56.64/SF
− Vacancy
−$1.3K −$1.13/SF
EGI
$63.8K $55.51/SF
− OpEx
−$28.7K −$24.98/SF
NOI
$35.1K $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%
$702,160
Cap Rate 7%
$501,543
Cap Rate 9%
$390,089
Alternative Uses
Best Use
Apartment 5plus
$501.5K
$438.9K – $585.1K
NOI $35,108 @ 7.0% cap · market cap 9.03%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$952.2K
$833.2K – $1.11M
NOI $66,654 @ 7.0% cap · market cap 17.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,138
Businesses Nearby
Explore this area
Business Placement
Demographics for 11224, NY
46,019
Population
21,354
Households
2.2
Avg Household Size
46
Median Age
33%
College-Educated
82%
High-School Grad
1.6 sq mi
ZIP Area
28,762
Density / Sq Mi
$41,449
Median Household Income
$41,233
Median Earnings
$905
Median Rent
$512,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Spacious 2-bed, 1.5-bath corner unit in Trump Village West.
Where is this apartment building located?
The property is located at 2928 W 5th St 2C Brooklyn, NY.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Largest corner unit in highly desirable Trump Village West complex.; Price reflects need for TLC, presenting a value opportunity.; Includes real estate taxes and all utilities in maintenance fee (except AC).
