Residential Income Property with Roof
For Sale
$433,000
309 Cooper Street 3B, Brooklyn, NY 11237
Studio residence in a 2014 low-rise building with in-unit laundry and shared roof deck access.
Property Size415 SF
Price / SF$1,043
Days on Market86
Property Features for 309 Cooper Street 3B
General Information
Standard status
Active
Size
415 SF
Property subtype
Apartment
Units
Unit Mix
1 x studio
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,680
Amenities
remote doorman
supplemental laundry facilities
shared roof deck
in-unit washer/dryer
dishwasher
central heating and air conditioning
Building Details
Building Size
415 SF
Year Built
2014
Listing Agency:
Compass
Listed By:
Joseph M Gallagher
(646) 522-7575
Source:
Miradorrealestate
Added: Jun 12
Changed: Aug 24
Last Checked: Sep 5 at 8:54AM
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.
Residence 3B is a 415-square-foot studio within a low-rise building completed in 2014. The home features floor-to-ceiling windows, hardwood flooring, central heating and air conditioning, a full-size dishwasher, and an in-unit washer and dryer. A remote doorman and supplemental laundry facilities are also provided.
The property is located at 309 Cooper Street in Brooklyn, NY 11237, within the Bushwick area. Residents have access to a shared roof deck, adding an outdoor amenity to the building’s residential offering.
The property is located at 309 Cooper Street in Brooklyn, NY 11237, within the Bushwick area. Residents have access to a shared roof deck, adding an outdoor amenity to the building’s residential offering.
Key Highlights
- 415‑square‑foot studio residence
- Built in 2014
- Floor‑to‑ceiling windows and hardwood flooring
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
$12,670
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
2.93%
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%
$253,400
$253.4K
Cap Rate 7%
$181,000
$181.0K
Cap Rate 9%
$140,778
$140.8K
Market Conditions
NOI Build-Up for 415 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
$23.5K $56.64/SF
− Vacancy
−$470 −$1.13/SF
EGI
$23.0K $55.51/SF
− OpEx
−$10.4K −$24.98/SF
NOI
$12.7K $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%
$253,400
Cap Rate 7%
$181,000
Cap Rate 9%
$140,778
Alternative Uses
Best Use
Apartment 5plus
$181.0K
$158.4K – $211.2K
NOI $12,670 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$343.6K
$300.7K – $400.9K
NOI $24,053 @ 7.0% cap · market cap 5.55%
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
3,336
Businesses Nearby
Explore this area
Business Placement
Demographics for 11237, NY
49,418
Population
18,801
Households
2.6
Avg Household Size
31
Median Age
41%
College-Educated
76%
High-School Grad
1.0 sq mi
ZIP Area
49,418
Density / Sq Mi
$82,570
Median Household Income
$43,421
Median Earnings
$2,109
Median Rent
$1,063,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Studio residence in a 2014 low-rise building with in-unit laundry and shared roof deck access.
Where is this residential income property located?
The property is located at 309 Cooper Street 3B Brooklyn, NY.
What is the asking price?
The asking price for this property is $433,000.
What are key features of this property?
This property features: 415‑square‑foot studio residence; Built in 2014; Floor‑to‑ceiling windows and hardwood flooring
