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    Property profile & analytics

    1984 Fulton St Brooklyn, NY 11233-6511

    • Apartment buildings
    • 5,084 SF
    • 0.04 lot acres
    OFF-MARKET
    Last Sale
    Dec 28, 2024
    $1,830,000
    Value Estimations
    $1,800,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-6079670
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1984 Fulton St

    Year built
    1927
    Lot size
    0.04 lot acres
    Property size
    5,084 SF
    Zone code
    R7D
    Property type
    Apartment buildings
    APN
    01548-0033
    APU
    15480033

    Description

    This bank-owned foreclosure presents a compelling investment opportunity in Brooklyn's Bedford Stuyvesant neighborhood. The property, located at 1984 Fulton St, is a four-story, six-unit apartment building constructed in 1927. Boasting a substantial 5,084 square feet of space, it sits on a 1,927 square foot lot. The building's classification is C-class multifamily. Currently generating a Net Operating Income (NOI) of $90,000, it offers a strong 10.06% capitalization rate. The asking price is $895,000. Property taxes are $6,000 annually. The building's corner location provides excellent visibility and accessibility. This stabilized investment property presents a rare chance to acquire a multifamily asset in a desirable Brooklyn location with significant potential for future appreciation. The building's six units are rent-stabilized. Further details are available upon request. This is a bank-owned foreclosure, offering a potentially advantageous acquisition opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,585,000
      6.5%
      $2,390,000
      7%
      $2,215,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,150,000
      Market price range: $700k - $2.02M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,230,000
      Current use
      INDUSTRIAL (GENERAL)
      $2,885,000
      Change: +134% Conversion: Difficult
      OFFICE BUILDING
      $2,800,000
      Change: +127% Conversion: Moderate
      WAREHOUSE, STORAGE
      $2,550,000
      Change: +107% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,685,000
      Change: +37% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9192
    Latitude
    40.6785
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $5,929
    $5,850
    $318,150
    $324,000
    -
    $13,000
    $707,000
    $720,000

    Comparable in this City

    • Value Estimation
      $2,285,000
      40,790 SF

      1325 Eastern Pkwy

      APARTMENT HOUSE (5+ UNITS) • 40,790 SF
      1325 Eastern Pkwy, Brooklyn, NY 11233-5270
      View Details
    • Value Estimation
      $2,135,000
      37,134 SF

      1474 Eastern Pkwy, Unit 1480

      APARTMENT HOUSE (5+ UNITS) • 37,134 SF
      1474 Eastern Pkwy, Brooklyn, NY 11233-5048
      View Details
    • Value Estimation
      $4,335,000
      76,735 SF

      1704 Saint Johns Pl

      APARTMENT HOUSE (5+ UNITS) • 76,735 SF
      1704 Saint Johns Pl, Brooklyn, NY 11233-4944
      View Details
    • Value Estimation
      $1,230,000
      67,137 SF

      331 Saratoga Ave

      APARTMENT HOUSE (5+ UNITS) • 67,137 SF
      331 Saratoga Ave, Brooklyn, NY 11233-4188
      View Details
    • Value Estimation
      $6,275,000
      37,600 SF

      181 Rockaway Ave

      APARTMENT HOUSE (5+ UNITS) • 37,600 SF
      181 Rockaway Ave, Brooklyn, NY 11233
      View Details
    • Value Estimation by Request
      16,008 SF

      257 Saratoga Ave

      Multifamily properties • 16,008 SF
      257 Saratoga Ave, Brooklyn, NY 11233
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,600 SF

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    • New
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      Six-Family Building in Brooklyn

      Solid investment property with income-enhancing features and add-value potential.
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    • $2,300,000
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      Renovated Multifamily Property in Bedford-Stuyvesant

      Completely renovated multifamily property with modern amenities and outdoor spaces.
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      Legal 6-Family Brooklyn Property

      Six apartments, each with three bedrooms and one bath.
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    Similar Nearby for Lease

    • $3,596 /Mo

      Three Bedroom Apartment For Rent

      Three-bedroom, one-bathroom apartment available for rent.
      293 Saratoga Ave, Brooklyn, NY 11233
      View Details
    • $3,596 /Mo

      Three Bedroom Apartment For Rent

      Three-bedroom, one-bathroom apartment available for rent.
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      View Details
    • Contact for pricing
      1,600 SF

      Versatile Space with High Traffic

      Adaptable space suitable for various uses in accessible location.
      1553 Eastern Pkwy, Brooklyn, NY 11233
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      12,500 SF

      Retail Space in New Development

      Divisible retail space with impressive frontage in Brooklyn.
      1915-1921 Atlantic Ave, Brooklyn, NY 11233
      View Details
    • Contact for pricing

      Vacant Land For Lease

      4,200 SF paved and fenced vacant land for lease.
      1911 Pacific St, Brooklyn, NY 11233
      View Details
    • Contact for pricing
      21,500 SF

      Brooklyn Warehouse with Drive-In Doors

      45,000 SF Brooklyn warehouse with multiple drive-in doors.
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      View Details
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    Brooklyn, NY 11233-6511
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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