Move-In-Ready Two-Bedroom
For Sale
$519,000
61 OLIVER Street 2A, Brooklyn, NY 11209
Bright true two-bedroom home in a well-maintained, pet-friendly building with two laundry rooms and a landscaped courtyard.
Property Size1,100 SF
Price / SF$471.82
Days on Market55
Property Features for 61 OLIVER Street 2A
General Information
Standard status
Active
Size
1,100 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Amenities
laundry rooms
live-in superintendent
courtyard
bike room
pet-friendly
Building Details
Building Size
1,100 SF
Year Built
1954
Listing Agency:
The Agency Brokerage
(917) 886-5459
Listed By:
DANIEL G HALL · License #10301217030
(917) 886-5459
Source:
Howardhannanyc
Added: Jul 8
Changed: Aug 26
Last Checked: Aug 30 at 10:28PM
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 The Agency Brokerage
Investment Insights
Based on property information with market context.
Welcome to 61 Oliver Street, #2A, a move-in-ready true two-bedroom residence featuring a large living room and a dining area with plenty of natural sunlight. The home offers generously sized rooms and comfortable everyday flow.
Set within a well-maintained, pet-friendly building, residents enjoy building amenities including two laundry rooms, a live-in superintendent, a beautifully landscaped courtyard, and a convenient bike room. The property was built in 1954.
At approximately 1,100 SF, this apartment is designed for convenient, low-hassle living with on-site services and shared spaces that support day-to-day routines.
Set within a well-maintained, pet-friendly building, residents enjoy building amenities including two laundry rooms, a live-in superintendent, a beautifully landscaped courtyard, and a convenient bike room. The property was built in 1954.
At approximately 1,100 SF, this apartment is designed for convenient, low-hassle living with on-site services and shared spaces that support day-to-day routines.
Key Highlights
- True two‑bedroom apartment with large living room and dining area
- Approximately 1,100 SF
- Pet‑friendly building with move‑in‑ready condition
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
$33,582
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
6.47%
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%
$671,640
$671.6K
Cap Rate 7%
$479,743
$479.7K
Cap Rate 9%
$373,133
$373.1K
Market Conditions
NOI Build-Up for 1,100 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
$62.3K $56.64/SF
− Vacancy
−$1.2K −$1.13/SF
EGI
$61.1K $55.51/SF
− OpEx
−$27.5K −$24.98/SF
NOI
$33.6K $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%
$671,640
Cap Rate 7%
$479,743
Cap Rate 9%
$373,133
Alternative Uses
Best Use
Apartment 5plus
$479.7K
$419.8K – $559.7K
NOI $33,582 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$910.8K
$797.0K – $1.06M
NOI $63,756 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,817
Businesses Nearby
Explore this area
Business Placement
Demographics for 11209, NY
73,239
Population
33,286
Households
2.2
Avg Household Size
40
Median Age
53%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
34,876
Density / Sq Mi
$92,656
Median Household Income
$62,455
Median Earnings
$1,857
Median Rent
$905,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Bright true two-bedroom home in a well-maintained, pet-friendly building with two laundry rooms and a landscaped courtyard.
Where is this residential income property located?
The property is located at 61 OLIVER Street 2A Brooklyn, NY.
What is the asking price?
The asking price for this property is $519,000.
What are key features of this property?
This property features: True two‑bedroom apartment with large living room and dining area; Approximately 1,100 SF; Pet‑friendly building with move‑in‑ready condition
