One-Bedroom Residential Income
For Sale
$499,000
640 DITMAS Avenue 17, Brooklyn, NY 11218
Fourth-floor condominium with high ceilings, updated kitchen appliances, and a renovated marble bathroom.
Property Size835 SF
Price / SF$597.60
Days on Market144
Property Features for 640 DITMAS Avenue 17
General Information
Standard status
Active
Size
835 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Building Details
Building Size
835 SF
Year Built
1920
Listing Agency:
Corcoran Group
(516) 991-0033
Listed By:
Robert J Rosa · License #30RO0952665 (NY)
(516) 991-0033
Source:
Carlinwright
Added: Mar 20
Changed: Aug 9
Last Checked: Aug 10 at 10:03AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
This 835-square-foot, one-bedroom, one-bath condominium occupies the fourth floor of a pre-war walkup building constructed in 1920. The one-level layout features polished hardwood floors, high ceilings, oversized windows with north and south exposures, and city views. The eat-in kitchen includes new appliances and a dishwasher, while the windowed bathroom has been renovated with marble finishes. In-unit Bosch laundry and window-unit cooling are also provided.
Located at 640 Ditmas Avenue in Brooklyn, the property is near shops, restaurants, and grocery stores in Kensington and nearby Ditmas Park. The condominium is pet-friendly and offers a residential setting within an established neighborhood.
Located at 640 Ditmas Avenue in Brooklyn, the property is near shops, restaurants, and grocery stores in Kensington and nearby Ditmas Park. The condominium is pet-friendly and offers a residential setting within an established neighborhood.
Key Highlights
- 835‑square‑foot one‑bedroom, one‑bath condominium
- Fourth‑floor residence in a pre‑war walkup building
- Constructed in 1920 with high ceilings and hardwood floors
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
$25,492
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
5.11%
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%
$509,840
$509.8K
Cap Rate 7%
$364,171
$364.2K
Cap Rate 9%
$283,244
$283.2K
Market Conditions
NOI Build-Up for 835 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
$47.3K $56.64/SF
− Vacancy
−$946 −$1.13/SF
EGI
$46.3K $55.51/SF
− OpEx
−$20.9K −$24.98/SF
NOI
$25.5K $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%
$509,840
Cap Rate 7%
$364,171
Cap Rate 9%
$283,244
Alternative Uses
Best Use
Apartment 5plus
$364.2K
$318.7K – $424.9K
NOI $25,492 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$691.4K
$605.0K – $806.6K
NOI $48,397 @ 7.0% cap · market cap 9.70%
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
2,356
Businesses Nearby
Explore this area
Business Placement
Demographics for 11218, NY
78,642
Population
27,403
Households
2.9
Avg Household Size
35
Median Age
51%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
56,173
Density / Sq Mi
$95,916
Median Household Income
$55,190
Median Earnings
$1,966
Median Rent
$914,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Fourth-floor condominium with high ceilings, updated kitchen appliances, and a renovated marble bathroom.
Where is this residential income property located?
The property is located at 640 DITMAS Avenue 17 Brooklyn, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 835‑square‑foot one‑bedroom, one‑bath condominium; Fourth‑floor residence in a pre‑war walkup building; Constructed in 1920 with high ceilings and hardwood floors
