Residential Income Property with Studio
New
For Sale
$450,000
960 Sterling Place 1N, Brooklyn, NY 11213
A renovated, raised-floor residence combines original architectural details with a windowed kitchen and bath.
Property Size526 SF
Price / SF$855.51
Days on Market6
Property Features for 960 Sterling Place 1N
General Information
Standard status
Active
Size
526 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
landscaped garden
barbecue
laundry
bike storage
video intercom
Building Details
Building Size
526 SF
Year Built
1937
Listing Agency:
Compass
Listed By:
Nichole Thompson-Adams
(917) 548-6196
Source:
Carlinwright
Added: Oct 24
Changed: Oct 27
Last Checked: Oct 28 at 2:31PM
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
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Investment Insights
Based on property information with market context.
This 526-square-foot studio occupies a raised first-floor position in a 1937 prewar building. Its kitchen has a window, dining space, Caesarstone counters, white cabinetry, teak shelving, a SMEG range, Bosch dishwasher, and filtered-water tap. Oak parquet with mahogany inlays, arched openings, and plaster ceilings preserve original interior character. A dressing hall provides closet space, and the windowed bathroom includes a deep tub. The apartment has been renovated.
Residents have access to a landscaped garden with barbecue and seating, laundry, bicycle storage, and a smartphone video intercom. Subletting is permitted.
Residents have access to a landscaped garden with barbecue and seating, laundry, bicycle storage, and a smartphone video intercom. Subletting is permitted.
Key Highlights
- 526‑square‑foot studio in a 1937 building
- Raised first‑floor position with garden views
- Windowed kitchen with dining area, SMEG range, and Bosch dishwasher
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,058
Cap Rate
3.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$321,160
$321.2K
Cap Rate 7%
$229,400
$229.4K
Cap Rate 9%
$178,422
$178.4K
Market Conditions
NOI Build-Up for 526 SF
Gross rent
$29.8K $56.64/SF
− Vacancy
−$596 −$1.13/SF
EGI
$29.2K $55.51/SF
− OpEx
−$13.1K −$24.98/SF
NOI
$16.1K $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 Rate 5%
$321,160
Cap Rate 7%
$229,400
Cap Rate 9%
$178,422
Alternative Uses
Best Use
Apartment 5plus
$229.4K
$200.7K – $267.6K
NOI $16,058 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$435.5K
$381.1K – $508.1K
NOI $30,487 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
6,039
Businesses Nearby
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Business Placement
Demographics for 11213, NY
67,217
Population
29,186
Households
2.3
Avg Household Size
34
Median Age
34%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
61,106
Density / Sq Mi
$62,040
Median Household Income
$43,736
Median Earnings
$1,607
Median Rent
$1,184,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A renovated, raised-floor residence combines original architectural details with a windowed kitchen and bath.
Where is this residential income property located?
The property is located at 960 Sterling Place 1N Brooklyn, NY.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 526‑square‑foot studio in a 1937 building; Raised first‑floor position with garden views; Windowed kitchen with dining area, SMEG range, and Bosch dishwasher
