Top-Floor Residential Income
For Sale
$825,000
339 Ave P 6-B, Brooklyn, NY 11204
Two-bedroom duplex condominium with private entrances, a balcony, and central air conditioning.
Property Size1,398 SF
Price / SF$590.13
Days on Market90
Property Features for 339 Ave P 6-B
General Information
Standard status
Active
Size
1,398 SF
Elevators
Yes
Property subtype
Apartment
Additional Details
HOA Fee
$439
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$10,608
Amenities
private balcony
central air
tankless boiler
in-unit washer/dryer
jacuzzi tub
pet-friendly
Building Details
Building Size
1,398 SF
Year Built
2006
Listing Agency:
Weichert Properties
Listed By:
David Gradzki
(347) 889-1771
Source:
Howardhannanyc
Added: Jun 11
Changed: Sep 4
Last Checked: Sep 7 at 6:19AM
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 Weichert Properties
Investment Insights
Based on property information with market context.
This 1,398-square-foot residential income property is configured as a top-floor duplex condominium with two bedrooms and two full bathrooms. Separate entrances serve the 4th and 5th floors, while the layout includes a private balcony, central air conditioning, a tankless boiler, and an in-unit washer and dryer. One bathroom includes a jacuzzi tub. The building was constructed in 2006 and offers elevator service.
Located at 339 Ave P in Brooklyn, the property is near public schools, the F train, the N train, MTA bus lines, restaurants, bakeries, grocery stores, cafés, and neighborhood conveniences. The balcony overlooks the Verrazano Bridge, and the bedrooms offer Manhattan skyline views.
Located at 339 Ave P in Brooklyn, the property is near public schools, the F train, the N train, MTA bus lines, restaurants, bakeries, grocery stores, cafés, and neighborhood conveniences. The balcony overlooks the Verrazano Bridge, and the bedrooms offer Manhattan skyline views.
Key Highlights
- 1,398‑square‑foot top‑floor duplex condominium
- Two bedrooms and two full bathrooms across the duplex layout
- Separate private entrances from the 4th and 5th floors
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
$42,679
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
5.17%
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%
$853,580
$853.6K
Cap Rate 7%
$609,700
$609.7K
Cap Rate 9%
$474,211
$474.2K
Market Conditions
NOI Build-Up for 1,398 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
$79.2K $56.64/SF
− Vacancy
−$1.6K −$1.13/SF
EGI
$77.6K $55.51/SF
− OpEx
−$34.9K −$24.98/SF
NOI
$42.7K $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%
$853,580
Cap Rate 7%
$609,700
Cap Rate 9%
$474,211
Alternative Uses
Best Use
Apartment 5plus
$609.7K
$533.5K – $711.3K
NOI $42,679 @ 7.0% cap · market cap 5.17%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $81,028 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,467
Businesses Nearby
Explore this area
Business Placement
Demographics for 11204, NY
85,885
Population
27,498
Households
3.1
Avg Household Size
34
Median Age
30%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
53,678
Density / Sq Mi
$67,588
Median Household Income
$33,461
Median Earnings
$1,751
Median Rent
$1,097,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom duplex condominium with private entrances, a balcony, and central air conditioning.
Where is this residential income property located?
The property is located at 339 Ave P 6-B Brooklyn, NY.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 1,398‑square‑foot top‑floor duplex condominium; Two bedrooms and two full bathrooms across the duplex layout; Separate private entrances from the 4th and 5th floors
