One-Bedroom Condo in Doorman
For Sale
$550,000
9921 4th Avenue 3B, Brooklyn, NY 11209
One-bedroom third-floor condo in a pet-friendly, 24-hour doorman building with elevator, on-site laundry, and private storage.
Property Size826 SF
Price / SF$665.86
Days on Market23
Property Features for 9921 4th Avenue 3B
General Information
Standard status
Active
Size
826 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,812
Amenities
pet friendly
doorman
on-site laundry
private storage
gym
outdoor patio
Building Details
Building Size
826 SF
Year Built
1987
Listing Agency:
Corcoran Group
(917) 572-9721
Listed By:
Gina Bartnik · License #10301219477 (NY)
(917) 572-9721
Source:
Carlinwright
Added: Jul 23
Changed: Aug 11
Last Checked: Aug 14 at 12:48PM
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.
Welcome to 9921 4th Avenue, Unit 3B, a sun-filled one-bedroom condo in a pet-friendly, elevator, doorman building. Located on the third floor, the home features an open living/dining layout with a wall of oversized west-facing windows for natural light and evening sunsets. The kitchen includes stainless steel appliances, ample cabinetry and counter space, and an island with additional storage and barstool seating.
The spacious bedroom accommodates a king-size bed and includes custom closets. A full bathroom with a tub completes the unit, while concrete subfloors help reduce noise. Additional interior features include high ceilings and abundant storage, including closet space.
The building offers 24-hour doorman service, an elevator, on-site laundry, private storage, a gym, and a spacious outdoor patio with built-in BBQ grills. The property size is 826 SF, and the building was built in 1987. There is also an option to rent out the unit as an investment property.
The spacious bedroom accommodates a king-size bed and includes custom closets. A full bathroom with a tub completes the unit, while concrete subfloors help reduce noise. Additional interior features include high ceilings and abundant storage, including closet space.
The building offers 24-hour doorman service, an elevator, on-site laundry, private storage, a gym, and a spacious outdoor patio with built-in BBQ grills. The property size is 826 SF, and the building was built in 1987. There is also an option to rent out the unit as an investment property.
Key Highlights
- One‑bedroom third‑floor condo with west‑facing oversized windows
- Pet‑friendly building with elevator and 24‑hour doorman
- Kitchen with stainless steel appliances plus island with storage and bar seating
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
$25,217
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
4.58%
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%
$504,340
$504.3K
Cap Rate 7%
$360,243
$360.2K
Cap Rate 9%
$280,189
$280.2K
Market Conditions
NOI Build-Up for 826 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
$46.8K $56.64/SF
− Vacancy
−$936 −$1.13/SF
EGI
$45.8K $55.51/SF
− OpEx
−$20.6K −$24.98/SF
NOI
$25.2K $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%
$504,340
Cap Rate 7%
$360,243
Cap Rate 9%
$280,189
Alternative Uses
Best Use
Apartment 5plus
$360.2K
$315.2K – $420.3K
NOI $25,217 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$683.9K
$598.4K – $797.9K
NOI $47,875 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,564
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 - One-bedroom third-floor condo in a pet-friendly, 24-hour doorman building with elevator, on-site laundry, and private storage.
Where is this residential income property located?
The property is located at 9921 4th Avenue 3B Brooklyn, NY.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: One‑bedroom third‑floor condo with west‑facing oversized windows; Pet‑friendly building with elevator and 24‑hour doorman; Kitchen with stainless steel appliances plus island with storage and bar seating
