Renovated Residential Income
New
For Sale
$840,000
361 Clinton Avenue 6H, Brooklyn, NY 11238
Flexible one-bedroom layout with a windowed kitchen, private-garden outlook, and extensive building amenities.
Property Size775 SF
Price / SF$1,083
Days on Market7
Property Features for 361 Clinton Avenue 6H
General Information
Standard status
Active
Size
775 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
renovated laundry facilities
on-site maintenance staff
24-hour security
bike storage
package room
common landscaped courtyard
Building Details
Building Size
775 SF
Year Built
1946
Listing Agency:
Corcoran Group
Listed By:
Thomas L Stuart
(646) 228-7229
Source:
Howardhannanyc
Added: Sep 4
Changed: Sep 9
Last Checked: Sep 10 at 6:38AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
Renovated residence in the Clinton Hill Historic District with a flexible layout currently arranged as one bedroom and capable of conversion to two bedrooms. The open living area includes a windowed kitchen with a dishwasher and center island, a dedicated dining area, and a spacious living room with three oversized windows. A renovated bathroom, king-size bedroom, four closets, and light-washed oak floors complete the interior. The home overlooks a private garden and includes space suitable for a sitting area or home office.
The 1946 Clinton Hill Apartments building provides renovated laundry facilities, elevators, on-site maintenance, 24-hour security, bike storage, a package room, and a landscaped courtyard. The G train is at the corner, with the C train two blocks away and bus service nearby. The property also permits pets and pied-a-terre use, allows limited subletting after two years of ownership, and is wired for Fios.
The 1946 Clinton Hill Apartments building provides renovated laundry facilities, elevators, on-site maintenance, 24-hour security, bike storage, a package room, and a landscaped courtyard. The G train is at the corner, with the C train two blocks away and bus service nearby. The property also permits pets and pied-a-terre use, allows limited subletting after two years of ownership, and is wired for Fios.
Key Highlights
- Flexible layout currently configured as one bedroom with conversion potential to two bedrooms
- Windowed kitchen with dishwasher and center island
- Three oversized living‑room windows and private‑garden outlook
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
$23,660
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
2.82%
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%
$473,200
$473.2K
Cap Rate 7%
$338,000
$338.0K
Cap Rate 9%
$262,889
$262.9K
Market Conditions
NOI Build-Up for 775 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
$43.9K $56.64/SF
− Vacancy
−$878 −$1.13/SF
EGI
$43.0K $55.51/SF
− OpEx
−$19.4K −$24.98/SF
NOI
$23.7K $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%
$473,200
Cap Rate 7%
$338,000
Cap Rate 9%
$262,889
Alternative Uses
Best Use
Apartment 5plus
$338.0K
$295.8K – $394.3K
NOI $23,660 @ 7.0% cap · market cap 2.82%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$641.7K
$561.5K – $748.7K
NOI $44,919 @ 7.0% cap · market cap 5.35%
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
6,710
Businesses Nearby
Explore this area
Business Placement
Demographics for 11238, NY
60,090
Population
29,588
Households
2
Avg Household Size
35
Median Age
71%
College-Educated
93%
High-School Grad
1.8 sq mi
ZIP Area
33,383
Density / Sq Mi
$132,957
Median Household Income
$85,179
Median Earnings
$2,511
Median Rent
$1,146,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Flexible one-bedroom layout with a windowed kitchen, private-garden outlook, and extensive building amenities.
Where is this residential income property located?
The property is located at 361 Clinton Avenue 6H Brooklyn, NY.
What is the asking price?
The asking price for this property is $840,000.
What are key features of this property?
This property features: Flexible layout currently configured as one bedroom with conversion potential to two bedrooms; Windowed kitchen with dishwasher and center island; Three oversized living‑room windows and private‑garden outlook
