2-Bedroom Residential Income Unit with Private
For Sale
$690,000
627 Wilson Avenue 2, Brooklyn, NY 11207
Two-bedroom, 1.5-bath home with HVAC split systems, in-unit washer/dryer, dishwasher, and deeded basement storage.
Property Size741 SF
Price / SF$931.17
Days on Market143
Property Features for 627 Wilson Avenue 2
General Information
Standard status
Active
Size
741 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$5,856
Building Details
Building Size
741 SF
Year Built
1907
Listing Agency:
Real New York
(347) 729-2739
Listed By:
Alexander Gutarts
(347) 729-2739
Source:
Carlinwright
Added: Mar 26
Changed: Aug 14
Last Checked: Aug 14 at 12:11PM
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 Real New York
Investment Insights
Based on property information with market context.
Located at 627 Wilson Avenue, this two-bedroom, 1.5-bath residence is arranged with high ceilings and hardwood floors for a bright, open feel. A private 629 SQ FT garden pairs with modern in-home comforts including HVAC split systems, an in-unit washer/dryer, and a dishwasher. The kitchen features stainless steel appliances, stone countertops, and custom cabinetry, flowing into the living and dining area for easy entertaining.
The home also includes excellent closet space and a private storage unit in the basement. Residents have access to a large shared roof deck. With a total private footprint of 1,432 square feet and a year built of 1907, the property offers an updated interior while maintaining its historic roots.
For transit, the home is minutes from the Wilson Avenue (L) and Chauncey Street (J/Z) stations, with a direct 25-minute or less connection to Williamsburg and Manhattan. The surrounding streets are part of the Bushwick Arts Collective, featuring large-scale graffiti murals.
The home also includes excellent closet space and a private storage unit in the basement. Residents have access to a large shared roof deck. With a total private footprint of 1,432 square feet and a year built of 1907, the property offers an updated interior while maintaining its historic roots.
For transit, the home is minutes from the Wilson Avenue (L) and Chauncey Street (J/Z) stations, with a direct 25-minute or less connection to Williamsburg and Manhattan. The surrounding streets are part of the Bushwick Arts Collective, featuring large-scale graffiti murals.
Key Highlights
- Private 629 SQ FT garden with deeded storage
- Two‑bedroom, 1.5‑bath layout with high ceilings and hardwood floors
- HVAC split systems plus in‑unit washer/dryer and dishwasher
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
$22,622
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
3.28%
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%
$452,440
$452.4K
Cap Rate 7%
$323,171
$323.2K
Cap Rate 9%
$251,356
$251.4K
Market Conditions
NOI Build-Up for 741 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
$42.0K $56.64/SF
− Vacancy
−$839 −$1.13/SF
EGI
$41.1K $55.51/SF
− OpEx
−$18.5K −$24.98/SF
NOI
$22.6K $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%
$452,440
Cap Rate 7%
$323,171
Cap Rate 9%
$251,356
Alternative Uses
Best Use
Apartment 5plus
$323.2K
$282.8K – $377.0K
NOI $22,622 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$613.5K
$536.9K – $715.8K
NOI $42,948 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,577
Businesses Nearby
Explore this area
Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, 1.5-bath home with HVAC split systems, in-unit washer/dryer, dishwasher, and deeded basement storage.
Where is this residential income property located?
The property is located at 627 Wilson Avenue 2 Brooklyn, NY.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Private 629 SQ FT garden with deeded storage; Two‑bedroom, 1.5‑bath layout with high ceilings and hardwood floors; HVAC split systems plus in‑unit washer/dryer and dishwasher
