Eight-Unit Apartment
For Sale
$2,100,000
567 Saint Johns Place 8 Brooklyn, Ny, NY 11238
Eight 2-bedroom, 1-bath units in an apartment building with no retail store unit.
Property Size5,720 SF
Price / SF$367.13
Days on Market48
Property Features for 567 Saint Johns Place 8 Brooklyn
General Information
Standard status
Active
Size
5,720 SF
Class
C1
Additional Details
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$9,876
Amenities
Full
4
Yes
Public
No
Intercom
5720
Building Details
Building Size
5,720 SF
Year Built
1909
Listing Agency:
RE/MAX Town & Country
(845) 765-6128
Listed By:
Michael Dunstan · License #10301200619
(845) 765-6128
Source:
Town-and-country-fishkill-ny.remax
Added: Jul 8
Changed: Aug 19
Last Checked: Aug 23 at 2:41AM
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 RE/MAX Town & Country
Investment Insights
Based on property information with market context.
This eight-unit apartment building is classified as an 8-family property and contains units that are all configured as 2 bedrooms and 1 bathroom. The building is described as having no store unit, making it strictly residential in nature.
The property is conveniently located near public transportation.
Offered for sale as a residential income property, the building’s current unit mix is consistent across all apartments, each with the same two-bedroom, one-bath layout.
The property is conveniently located near public transportation.
Offered for sale as a residential income property, the building’s current unit mix is consistent across all apartments, each with the same two-bedroom, one-bath layout.
Key Highlights
- 4‑story apartment building built in 1909 with a full basement
- Eight units total: each apartment is a 2‑bedroom, 1‑bath layout
- No retail/store unit included—property has residential units only
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
$178,963
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
8.52%
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%
$3,579,260
$3.6M
Cap Rate 7%
$2,556,614
$2.6M
Cap Rate 9%
$1,988,478
$2.0M
Market Conditions
NOI Build-Up for 5,720 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
$342.5K $59.88/SF
− Vacancy
−$17.1K −$2.99/SF
EGI
$325.4K $56.89/SF
− OpEx
−$146.4K −$25.60/SF
NOI
$179.0K $31.29/SF
Area
New York, NY
Vacancy
5.00%
Lease Rate
$59.88 /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%
$3,579,260
Cap Rate 7%
$2,556,614
Cap Rate 9%
$1,988,478
Alternative Uses
Best Use
Apartment 5plus
$2.56M
$2.24M – $2.98M
NOI $178,963 @ 7.0% cap · market cap 8.52%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$14.24M
$12.46M – $16.61M
NOI $996,653 @ 7.0% cap · market cap 47.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
6,266
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
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 - Eight 2-bedroom, 1-bath units in an apartment building with no retail store unit.
Where is this apartment building located?
The property is located at 567 Saint Johns Place 8 Brooklyn Ny, NY.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 4‑story apartment building built in 1909 with a full basement; Eight units total: each apartment is a 2‑bedroom, 1‑bath layout; No retail/store unit included—property has residential units only
