OFF-MARKET
Apartment buildings
Entity Owned
Free & Clear
Entity Owned Property summary
AI-generated overview
This exceptional investment opportunity presents a newly renovated six-family building situated on a 0.06-acre lot at 2027 Palmetto Street in the desirable Ridgewood, NY historic district. The property boasts a total of 5,600 square feet and offers a compelling blend of modern amenities and classic charm. The building comprises five spacious three-bedroom, two-bathroom units and one cozy two-bedroom, two-bathroom unit, all designed with modern living in mind. Each unit includes the convenience of in-unit laundry facilities, a significant draw for potential tenants. Adding to the property's appeal is the inclusion of basement storage rooms, providing ample space for residents. Access to a backyard further enhances the living experience. The building's dimensions are 27.5 feet wide by 68 feet deep. Its location is incredibly convenient, just one block from the M train, and within easy walking distance of numerous cafes, bars, and restaurants. This vacant property is ready for immediate occupancy and presents a strong potential for rental income. The asking price is $3,299,999. This is a rare chance to acquire a landmark property in a thriving neighborhood.
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1930
Total area
5,600 SF
Lot
0.06 ac (2,742 SF)
Zoning code
R6B
APN
03486-0053
UPID
US63-0767867
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.44M
Owner & transaction history
since 2025
Last sale
$3.4M
4 recorded transactions
Zoning & alternative use
R6B · Flushing, NY
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 11 comparables with addresses
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$1.44M
Value range
$1.30M – $1.58M
±10% around blend
Estimated value / SF
$257 / SF
Confidence
High
11 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
100
$1.30M
blend $1.44M
$1.58M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
5,600 SF
Lot area
0.06 ac
Year built
1930
Stories
3
APN
03486-0053
Assessed value
$421,200
Annual tax
$19,032
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$899k
Weighted, 11 comps · high confidence
Evidence
11 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
0.4 mi away · 5,600 SF
0.4 mi away · 5,100 SF
0.5 mi away · 4,125 SF
0.5 mi away · 4,875 SF
0.5 mi away · 5,814 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.44M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 155 sales
$200
+29%
Submarket 435 sales
$222
+16%
County 842 sales
$244
+5%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $257/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 11 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$3.42M
Move the market yield to see immediate price impact.
Value / SF
$611
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$215k
$4.31M
$3.08M
$2.39M
$239k
$4.79M
$3.42M
$2.66M
$263k
$5.27M
$3.76M
$2.93M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
11 found
High confidence · county-verified
Closest comparable
$1.25M
0.2 mi · Nov 2025 · $219/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$19,032
Tax year 2024
Assessed value
$421,200
Assessed 2024
Previous assessed
$141,006
+198.7% YoY
Effective rate
4.52%
On assessed value
Assessed land
$6,750
Assessed improvement
$414,450
Land market value
$15,000
Improvement market value
$921,000
Total market value
$936,000
Applied tax rate
2.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1930
Heating
NONE
Buildings
1
Stories
3
Units
6
Total area
5,600 SF
Lot
0.06 ac (2,742 SF)
Zoning code
R6B
APN
03486-0053
UPID
US63-0767867
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R6B · Flushing, NYZoning R6B · permitted uses
R6B · Flushing, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1930
Heating
NONE
Stories
3
Buildings
1
Units
6
Lot
0.06 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
R6B
Jurisdiction
Flushing, NY
Recorded code
R6B
Ownership Intelligence
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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