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59 S 3rd Street
About This Property
The garden apartment has a private entrance for convenient management access when occupied by tenants. Hardwood floors run throughout, and each unit offers impeccable historic features with ample natural light. The parlor floor features soaring 11-foot ceilings.
The garden apartment is a 2 bed/2 bath, with a current lease through June 2021 at $3,200. The parlor apartment is 1 bed/1 bath and is deliberately vacant with the last rent set at $3,500. The second floor has 1 bed/1 bath, with a lease through July 2021 at a reduced rent of $2,650. The third-floor apartment offers 2 beds/1 bath with a lease through October 2021 at $2,900.
The property has very low taxes at $3,261 a year.
This townhouse is just a block and a half from Domino Park for unrivaled views of Manhattan. The area is home to both Brooklyn and New York Citys hottest restaurants and shopping on Bedford Avenue which is just two blocks away.
Dont miss this incredible opportunity to own in the heart of Williamsburg on coveted South 3rd Street.
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Cap Rate Calculator
What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Feb 23, 2022 | Sold | ||
| Sold | |||
| Jan 17, 2022 | No longer available | - | |
| No longer available | |||
| Oct 22, 2021 | In contract | - | |
| In contract | |||
| Oct 5, 2021 | Price Decreased |
$3,900,000
↓ $200K
(4.9%) | |
| Price Decreased | |||
| May 24, 2021 | Price Increased |
$4,100,000
↑ $200K
(5.1%) | |
| Price Increased | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017