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637 MADISON Street #4B
About This Property
Apartment 4B is a dream come true for anyone looking for a designer 2-bedroom, 1-bathroom apartment with a private terrace. This sun-filled duplex boasts 718 sq ft of living space, with 7.5 inch white oak floors that complement and incorporate the unit's unique style. The open kitchen is a chef's delight, outfitted with Blomberg appliances, including dishwasher, and a range/oven with vented XO hood. The custom cabinets provide plenty of storage for all your cooking needs, and the stainless steel sink sits in a well appointed quartz island/breakfast bar. You will also appreciate the convenience of having a laundry closet with washer/dryer hookups. The unit comes with a deeded storage space.
There is no lack of private outdoor space in this unit! Access to the generous 77 sq ft balcony is just off the living room. Venture up the custom staircase to the second bedroom that opens onto a private roof terrace with sweeping city skyline views. At 420 sq ft, the terrace is bathed in northern light, perfect for unwinding or entertaining family and friends.
The apartment is a haven of comfort and relaxation, with two generous bedrooms that can easily accommodate a king sized bed set and has ample closet space for your wardrobe. The bathroom features beautiful porcelain tilework, heated floors, a sleek vanity, and a deep soaking tub with rain showerhead for immersive relaxation. Mitsubishi, ductless heating and cooling units offer year round comfort and efficiency.
637 Madison is a prime location for enjoying the best of Brooklyn. Located in Stuyvesant Heights, residents are central to the culture and architecture that the neighborhood is known for. The building is equidistant from Fulton Park and Saratoga Park, one of the area's largest. Enjoy several restaurants, cafes, and bars all within minutes from your doorstep in the adjacent Broadway corridor. A/C trains are nearby at Utica Ave station, with access to local and express J/Z trains at Gates Ave.
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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.
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