One-Bedroom Income
For Sale
$515,000
447 DECATUR Street 2B, Brooklyn, NY 11233
Light-filled condominium with modern finishes, private storage, and access to a rooftop terrace.
Property Size530 SF
Price / SF$971.70
Days on Market14
Property Features for 447 DECATUR Street 2B
General Information
Standard status
Active
Size
530 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,616
Amenities
virtual doorman
rooftop terrace
central A/C
in-unit washer/dryer
private deeded storage
Building Details
Building Size
530 SF
Year Built
2017
Listing Agency:
Brown Harris Stevens Residential Sales LLC
Listed By:
Meurkens Ilma Miranda
(212) 588-5692
Source:
Penrealty
Added: Sep 18
Changed: Sep 28
Last Checked: Sep 30 at 6:02PM
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 Brown Harris Stevens Residential Sales LLC
Investment Insights
Based on property information with market context.
This 530-square-foot, one-bedroom condominium is located in a building completed in 2017. The residence features high ceilings, south-facing floor-to-ceiling windows, bleached white-oak flooring, recessed lighting, and central A/C. Its open kitchen is equipped with Bosch and Fisher & Paykel appliances, Caesarstone countertops, and extensive cabinetry. The bedroom includes a walk-in closet, while the deeded basement storage unit and closet systems add organized space. A full bathroom includes a soaking tub with rain shower, marble tile, and a custom vanity.
Building amenities include a virtual doorman and rooftop terrace with city views. The property is at 447 Decatur Street, Brooklyn, NY 11233, with access to the A/C and J subway lines for connections to Manhattan, Williamsburg, and Downtown Brooklyn. An in-unit washer/dryer completes the residential setup.
Building amenities include a virtual doorman and rooftop terrace with city views. The property is at 447 Decatur Street, Brooklyn, NY 11233, with access to the A/C and J subway lines for connections to Manhattan, Williamsburg, and Downtown Brooklyn. An in-unit washer/dryer completes the residential setup.
Key Highlights
- 530 SF one‑bedroom condominium in a 2017 building
- South‑facing floor‑to‑ceiling windows and high ceilings
- Bosch and Fisher & Paykel kitchen appliances
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
$16,180
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
3.14%
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%
$323,600
$323.6K
Cap Rate 7%
$231,143
$231.1K
Cap Rate 9%
$179,778
$179.8K
Market Conditions
NOI Build-Up for 530 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
$30.0K $56.64/SF
− Vacancy
−$600 −$1.13/SF
EGI
$29.4K $55.51/SF
− OpEx
−$13.2K −$24.98/SF
NOI
$16.2K $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%
$323,600
Cap Rate 7%
$231,143
Cap Rate 9%
$179,778
Alternative Uses
Best Use
Apartment 5plus
$231.1K
$202.3K – $269.7K
NOI $16,180 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$438.8K
$384.0K – $512.0K
NOI $30,719 @ 7.0% cap · market cap 5.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,359
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Light-filled condominium with modern finishes, private storage, and access to a rooftop terrace.
Where is this residential income property located?
The property is located at 447 DECATUR Street 2B Brooklyn, NY.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: 530 SF one‑bedroom condominium in a 2017 building; South‑facing floor‑to‑ceiling windows and high ceilings; Bosch and Fisher & Paykel kitchen appliances
