Spacious Corner 2-Bedroom
For Sale
$449,000
3178 Nostrand Ave 1M, Brooklyn, NY 11229
Newly renovated, pet-friendly co-op near Kings Hwy shopping.
Property Size1,250 SF
Days on Market279
Property Features for 3178 Nostrand Ave 1M
General Information
Standard status
Active
Size
1,250 SF
Property subtype
Residential
Building Details
Building Size
1,250 SF
Units
79
Listed By:
Inna Rosentsveyg
(718) 891-8600
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Sep 1 at 10:50PM
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 Inna Rosentsveyg
Investment Insights
Based on property information with market context.
This large corner 2-bedroom, 2-bathroom co-op has been fully renovated with new floors, a modern eat-in kitchen with windows, a large living room, and a dinette. The apartment features new electrical systems, stainless steel appliances, and new doors and bathrooms. The unit has ample closet space and is located on the second floor of a building with elevators and a new laundry facility. Subletting is permitted after 2 years with board approval. The building is pet-friendly and is located near Kings Highway shopping and transportation.
Key Highlights
- Completely renovated with new floors, kitchen, bathrooms, electricity, and stainless steel appliances.
- Large corner unit with 2 bedrooms and 2 bathrooms, featuring a potential Jr. 5 layout.
- Eat‑in kitchen with windows, large living room, and dinette area.
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
$38,161
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
8.50%
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%
$763,220
$763.2K
Cap Rate 7%
$545,157
$545.2K
Cap Rate 9%
$424,011
$424.0K
Market Conditions
NOI Build-Up for 1,250 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
$70.8K $56.64/SF
− Vacancy
−$1.4K −$1.13/SF
EGI
$69.4K $55.51/SF
− OpEx
−$31.2K −$24.98/SF
NOI
$38.2K $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%
$763,220
Cap Rate 7%
$545,157
Cap Rate 9%
$424,011
Alternative Uses
Best Use
Apartment 5plus
$545.2K
$477.0K – $636.0K
NOI $38,161 @ 7.0% cap · market cap 8.50%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.04M
$905.6K – $1.21M
NOI $72,450 @ 7.0% cap · market cap 16.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,352
Businesses Nearby
Explore this area
Business Placement
Demographics for 11229, NY
83,669
Population
33,353
Households
2.5
Avg Household Size
40
Median Age
41%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
41,835
Density / Sq Mi
$72,556
Median Household Income
$52,948
Median Earnings
$1,666
Median Rent
$812,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Newly renovated, pet-friendly co-op near Kings Hwy shopping.
Where is this apartment building located?
The property is located at 3178 Nostrand Ave 1M Brooklyn, NY.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Completely renovated with new floors, kitchen, bathrooms, electricity, and stainless steel appliances.; Large corner unit with 2 bedrooms and 2 bathrooms, featuring a potential Jr. 5 layout.; Eat‑in kitchen with windows, large living room, and dinette area.
