One-Bedroom Residential Income
New
For Sale
$540,000
31 Bleecker Street 2R, Brooklyn, NY 11221
East-facing apartment with in-unit laundry, central climate control, and a Bosch-equipped kitchen.
Property Size500 SF
Price / SF$1,080
Days on Market6
Property Features for 31 Bleecker Street 2R
General Information
Standard status
Active
Size
500 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
$1,080
Amenities
in-unit washer/dryer
central AC & heating
individual temperature controls
Building Details
Building Size
500 SF
Year Built
1901
Listing Agency:
Bond New York Properties LLC
Listed By:
KASJAN H BEBENEK
(718) 415-8865
Source:
Cbwarburg
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 7 at 7:55AM
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 Bond New York Properties LLC
Investment Insights
Based on property information with market context.
Unit 2R at 31 Bleecker Street is a 500-square-foot, one-bedroom, one-bathroom apartment with an east-facing orientation and oversized windows. The back-facing layout includes white oak floors, high ceilings, generous closet space, and central AC and heating with individual temperature controls for each room.
The kitchen is fitted with Bosch appliances and designer finishes, while the apartment also includes an in-unit washer and dryer. The property is located in Bushwick, Brooklyn, near multiple subway stops and neighborhood restaurants, shops, and bars.
The kitchen is fitted with Bosch appliances and designer finishes, while the apartment also includes an in-unit washer and dryer. The property is located in Bushwick, Brooklyn, near multiple subway stops and neighborhood restaurants, shops, and bars.
Key Highlights
- 500 SF one‑bedroom, one‑bathroom apartment
- East‑facing, back‑facing unit with oversized windows
- In‑unit washer and dryer
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
$15,264
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
2.83%
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%
$305,280
$305.3K
Cap Rate 7%
$218,057
$218.1K
Cap Rate 9%
$169,600
$169.6K
Market Conditions
NOI Build-Up for 500 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
$28.3K $56.64/SF
− Vacancy
−$566 −$1.13/SF
EGI
$27.8K $55.51/SF
− OpEx
−$12.5K −$24.98/SF
NOI
$15.3K $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%
$305,280
Cap Rate 7%
$218,057
Cap Rate 9%
$169,600
Alternative Uses
Best Use
Apartment 5plus
$218.1K
$190.8K – $254.4K
NOI $15,264 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$414.0K
$362.3K – $483.0K
NOI $28,980 @ 7.0% cap · market cap 5.37%
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
4,545
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 - East-facing apartment with in-unit laundry, central climate control, and a Bosch-equipped kitchen.
Where is this residential income property located?
The property is located at 31 Bleecker Street 2R Brooklyn, NY.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: 500 SF one‑bedroom, one‑bathroom apartment; East‑facing, back‑facing unit with oversized windows; In‑unit washer and dryer
