3 months on rocket

487 E 93rd St, East Flatbush, NY, 11203

$1,350,000

Home List Price

$10,000*

Closing Credit

16 Bedrooms
5 Full Baths
3,000 SqFt
$450/SqFt
Multi

Location

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487 E 93rd St, New York$1,350,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
ParkingPrivate, Other
Year Built1930
HeatingNatural Gas, Baseboard, Steam
CoolingNone
MLS #3568800
Lot Size0.07 Acres
StatusActive
(A)

About 487 E 93rd St

Legal 4 family with legal 3 bedroom basement for additional income! Discover an incredible investment opportunity with this well-maintained five-family property in the heart of East Flatbush, Brooklyn. Perfectly suited for investors looking to generate substantial rental income, this property offers a blend of modern amenities and classic charm in a prime location. Property Features: Four Family Units: This property features four spacious and independent family units, each with its own entrance, ensuring privacy and convenience for tenants. Legal Basement Unit: An additional legally finished basement unit adds a fifth income-generating residence, maximizing rental potential. Outdoor Space: A private backyard provides a perfect space for outdoor activities or relaxation. Recent Upgrades: New Roof: A recently installed roof ensures long-term durability and reduced maintenance costs. New Boiler: A brand-new boiler enhances energy efficiency and ensures comfortable living conditions for tenants. Prime Location: Convenient Access: Located on a quiet, tree-lined street, yet close to major transportation routes, shopping, dining, and entertainment options. Community Amenities: Proximity to local schools, parks, and community centers adds to the appeal for families and tenants. Investment Highlights: Income Potential: With five fully separate units, this property is ideal for investors seeking robust rental income. Free market rentals: As a free market property, the owner has full control over setting rental rates, allowing for flexible and competitive pricing High Demand Area: East Flatbush is a sought-after neighborhood with a strong rental market, ensuring high occupancy rates and rental demand. PROPERTY DETAILS: TAXES $9457 ? Multi-Family Property ? Two-story walk-up ? 5 Units ? Lot Size: 30 ? 100ft ? Brand new boiler and plumbing throughout building CURRENT RENT ROLL: ? Apt 1F: $2,040 ? Apt 1R: $2,417 ? Apt 2F: $3,385 ? Apt 2R: $2,387 ? Basement: $2,696 ? Total Income: $12,985 ? Yearly Gross Income: $155,820 EXPENSES: ? Approximately $25,000 CAP RATE: ? $165,000 (total income) - $25,000 (expenses) = $140,000 Potential Net Income

Property Details

Property Features

Property Information:

  • Architectural Style: Other
  • Year Built: 1930
  • Living Area: 3,000 SqFt

Listing Office:

  • Office Name: Exit Realty First Choice
  • Office Phone: (718) 380-2500

Interior Features

Interior Information:

  • Flooring Type: Hardwood
  • Interior: Eat-in Kitchen, Entrance Foyer

Bedroom and Bathroom Information:

  • Full Bathrooms: 5
  • Total Bedroom Count: 16

Exterior Features

Parking Information:

  • Attached Garage: No
  • Parking: Private, Other

Lot Features

Lot Information:

  • Lot: Near Public Transit
  • Lot Size: 0.07 Acres

Utilities

Utilities Information:

  • Heating: Natural Gas, Baseboard, Steam
  • Cooling: None

Other

Directions Information:

  • Directions: WAZE

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,350,000
  • Price Per SqFt: $450/SqFt
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Housing Market Comparison

See how this home compares to others in New York, NY.

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New York, NY

City

Med. Sold Price

$856.1K

Med. Price/SqFt

$645

Avg. Days On Market

84

# of Sold Homes

1952

487 E 93rd St vs New York

109 DAYS ON ROCKET

+25 Days

$1,350,000

+$493.8K More

$450/SqFt

-$195 Less

KEY TAKEAWAY

This property is $493.8K more than the Median Sold Price and $195/SqFt less than other homes in New York, NY.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: ONEKEY
  • MLS Number: #3568800

Listing Office:

  • Office Name: Exit Realty First Choice
  • Office Phone: (718) 380-2500

IDX Listings courtesy of OneKey MLS as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDXThe data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed.

Information Copyright 2024, OneKey™ MLS. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Last updated on: 11/15/2024, 10:56:47 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

We're sorry, we currently don't have sales or tax history data for this listing.

Payment Calculator

$6,805

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$4,114

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-94781
8
/10

  • P.S. 208 Elsa Ebeling School

  • 4801 Avenue D

  • 0.28 miles

  • Public District Grades PK-5

school-card-donut-94782
5
/10

  • P.S. 198 Brooklyn

  • 4105 Farragut Rd

  • 0.42 miles

  • Public Magnet Grades PK-5

school-card-donut-94783
7
/10

  • P.S. 244 Richard R. Green School

  • 5404 Tilden Ave

  • 0.64 miles

  • Public District Grades PK-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $59,107. The majority of New York, NY residents have income less than $35k annually. Most families are single, no kids. The most common level of education of people living in this area is high school diploma.

All data provided by Home Junction and Claritas

Rocket Homes›New York›Kings County›New York›11203›487 E 93rd St

This home is located at 487 E 93rd St in East Flatbush, NY and zip code 11203 in the Farragut neighborhood. This 3,000 square foot home, which was built in 1930, sits on a 0.07 acre lot. Features: 16 bedrooms, 5 bathrooms. It has been listed on Rocket Homes since July 29, 2024 and is currently priced at $1,350,000.

While more than 269 listings in New York, NY in October 2024 were sold above asking price, there were more than 850 listings sold at asking price, and more than 833 were sold below. The number of listings in New York, NY increased by 1.8% between September 2024 and October 2024. The median list price of listings available in October 2024 was $856,124, while the average time on the real estate market was 84 days.

From Rocket Homes Real Estate and based on county public records data.

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