Renovated Residential Income
For Sale
$795,000
61 Martense Street 1D, Brooklyn, NY 11226
Fully renovated condo with private balcony, in-unit laundry, elevator access, and resident building amenities.
Property Size1,096 SF
Price / SF$725.36
Days on Market25
Property Features for 61 Martense Street 1D
General Information
Standard status
Active
Size
1,096 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,254
Amenities
private outdoor balcony
in-unit laundry
roof deck
fitness room
bike storage
live-in super
Building Details
Building Size
1,096 SF
Year Built
1953
Listing Agency:
Compass
Listed By:
Matthew Pucker
(917) 981-1107
Source:
Howardhannanyc
Added: Sep 14
Changed: Oct 6
Last Checked: Oct 7 at 3:02PM
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 Compass
Investment Insights
Based on property information with market context.
This 1,096-square-foot condominium at 61 Martense Street offers a two-bedroom, two-bath layout with south and north exposures. The residence has been fully renovated with an open living arrangement, oak hardwood flooring, recessed lighting, ample closets, updated kitchen and bathroom fixtures, stainless steel appliances, and private in-unit laundry. A private outdoor balcony adds usable exterior space, while private indoor parking is available to purchase.
The 1953 elevator building includes a finished roof deck with Manhattan and Brooklyn views, a resident fitness room, bike storage, a private parking garage, and a live-in resident superintendent. The property is in Flatbush, a short distance from Prospect Park, the LeFrak Center, Smorgasburg grounds, Brooklyn Museum, Central Library, Botanic Gardens, Kings Theatre, neighborhood retail and restaurants, and multiple train lines.
The 1953 elevator building includes a finished roof deck with Manhattan and Brooklyn views, a resident fitness room, bike storage, a private parking garage, and a live-in resident superintendent. The property is in Flatbush, a short distance from Prospect Park, the LeFrak Center, Smorgasburg grounds, Brooklyn Museum, Central Library, Botanic Gardens, Kings Theatre, neighborhood retail and restaurants, and multiple train lines.
Key Highlights
- 1,096‑square‑foot condominium with two bedrooms and two bathrooms
- Fully renovated residence with oak hardwood floors and stainless steel appliances
- Private outdoor balcony and in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,694
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$513,880
$513.9K
Cap Rate 7%
$367,057
$367.1K
Cap Rate 9%
$285,489
$285.5K
Market Conditions
NOI Build-Up for 1,096 SF
Gross rent
$48.7K $44.40/SF
− Vacancy
−$1.9K −$1.78/SF
EGI
$46.7K $42.62/SF
− OpEx
−$21.0K −$19.18/SF
NOI
$25.7K $23.44/SF
Area
ZIP 11226
Vacancy
4.00%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$513,880
Cap Rate 7%
$367,057
Cap Rate 9%
$285,489
Alternative Uses
Best Use
Apartment 5plus
$367.1K
$321.2K – $428.2K
NOI $25,694 @ 7.0% cap · market cap 3.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$541.7K
$474.0K – $632.0K
NOI $37,920 @ 7.0% cap · market cap 4.77%
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
5,488
Businesses Nearby
Explore this area
Business Placement
Demographics for 11226, NY
101,727
Population
42,618
Households
2.4
Avg Household Size
37
Median Age
36%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
78,252
Density / Sq Mi
$81,084
Median Household Income
$49,892
Median Earnings
$1,751
Median Rent
$866,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Fully renovated condo with private balcony, in-unit laundry, elevator access, and resident building amenities.
Where is this residential income property located?
The property is located at 61 Martense Street 1D Brooklyn, NY.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 1,096‑square‑foot condominium with two bedrooms and two bathrooms; Fully renovated residence with oak hardwood floors and stainless steel appliances; Private outdoor balcony and in‑unit laundry
