Top-Floor Residential Income
For Sale
$995,000
Pending
355 STRATFORD Road 5/C, Brooklyn, NY 11218
Two-bedroom condominium residence with a private balcony, deeded parking, elevator access, and dedicated storage.
Property Size1,014 SF
Days on Market78
Property Features for 355 STRATFORD Road 5/C
General Information
Standard status
Pending
Size
1,014 SF
Total Parking Spaces
1
Elevators
Yes
Property subtype
Apartment
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
private balcony
Brazilian hardwood floors
stainless steel appliances
in-unit washer/dryer
individual climate control
deeded storage unit
shared rooftop terrace
video intercom
Building Details
Building Size
1,014 SF
Year Built
2007
Listing Agency:
Serhant
(718) 938-7308
Listed By:
Abigail Palanca
(718) 938-7308
Source:
Howardhannanyc
Added: Jun 9
Changed: Aug 25
Last Checked: Aug 24 at 1:11PM
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 Serhant
Investment Insights
Based on property information with market context.
This 1,014 SF top-floor condominium residence offers a two-bedroom, two-bath layout with exposures on two sides and distinct living and dining areas. The private balcony is accessible from both the living room and primary suite. Brazilian hardwood flooring, oversized windows, stainless steel kitchen appliances, substantial cabinetry, and an in-unit washer and dryer add practical functionality. The primary bedroom includes a walk-in closet, en-suite bath, and balcony access. Individual climate control is provided in every room, and the property includes a deeded storage unit and deeded parking space.
The 2007 boutique condominium building features an elevator, video intercom system, shared rooftop terrace, and maintained common areas. The residence is positioned at the corner of Cortelyou Road, near restaurants, cafés, specialty shops, the Q train approximately 4.5 blocks away, Prospect Park, and nearby tennis courts.
The 2007 boutique condominium building features an elevator, video intercom system, shared rooftop terrace, and maintained common areas. The residence is positioned at the corner of Cortelyou Road, near restaurants, cafés, specialty shops, the Q train approximately 4.5 blocks away, Prospect Park, and nearby tennis courts.
Key Highlights
- 1,014 SF top‑floor condominium residence
- Two bedrooms and two bathrooms with separate living and dining areas
- Private balcony connects to the living room and primary suite
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
$30,956
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
3.11%
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%
$619,120
$619.1K
Cap Rate 7%
$442,229
$442.2K
Cap Rate 9%
$343,956
$344.0K
Market Conditions
NOI Build-Up for 1,014 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
$57.4K $56.64/SF
− Vacancy
−$1.1K −$1.13/SF
EGI
$56.3K $55.51/SF
− OpEx
−$25.3K −$24.98/SF
NOI
$31.0K $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%
$619,120
Cap Rate 7%
$442,229
Cap Rate 9%
$343,956
Alternative Uses
Best Use
Apartment 5plus
$442.2K
$387.0K – $515.9K
NOI $30,956 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$839.6K
$734.6K – $979.5K
NOI $58,771 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,567
Businesses Nearby
Explore this area
Business Placement
Demographics for 11218, NY
78,642
Population
27,403
Households
2.9
Avg Household Size
35
Median Age
51%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
56,173
Density / Sq Mi
$95,916
Median Household Income
$55,190
Median Earnings
$1,966
Median Rent
$914,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium residence with a private balcony, deeded parking, elevator access, and dedicated storage.
Where is this residential income property located?
The property is located at 355 STRATFORD Road 5/C Brooklyn, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 1,014 SF top‑floor condominium residence; Two bedrooms and two bathrooms with separate living and dining areas; Private balcony connects to the living room and primary suite
