Dimpihk, Renter in

what kind of rental return one can expect for one bedroom 2 bath duplex in saint johns place?

Asked by Dimpihk, Mon Nov 5, 2012

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This question was asked from this property: http://www.trulia.com/property/3099426829-524-Saint-Johns-Pl…

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That would be before expenses, of course - this apartment carries common charges of $488 and real estate taxes of $26 per month, reducing that $30,000 to under $24,000 - and that's before any financing costs (assuming you're not paying all cash), expenses associated with apartment upkeep and renting, and depreciation (non-cash).

Your best bet would be to discuss this with your accountant to see how this would affect your personal financial situation. Good luck!
0 votes Thank Flag Link Mon Nov 5, 2012
About $30,000 a year on a $2,500 p/mo rental. I have alot of good people who have been displaced from the beach communities due to the hurricane. If you're up to renting it, let me know.

Luke Constantino
Prudential Douglas Elliman Real Estate
M: (212) 300-3919
D: (718) 935-6135
F: (917) 369-2690
lukeconstantino@elliman.com
http://lukeconstantino.com
325 Court Street, Brooklyn NY 11231
0 votes Thank Flag Link Mon Nov 5, 2012
Hi Dimpihk,

I am extremely familiar with both this building in particular and the area in general, having handled numerous sales and rentals in the neighborhood.

This is a new construction building at the corner of St. Johns Place and Classon Avenue in Crown Heights, one block east of Prospect Heights and one block west of Franklin Avenue, a rapidly-developing commercial stretch including several notable restaurants, like Barboncino and Chavela's, as well as shops and cafes. However, when apartments here were first offered for sale in 2008 this commercial development had just begun and the real estate market was depressed, so they were rented out instead. Units were re-introduced to the market this past June; three are reported to be in contract.

Unit 5C is currently rented out through March 31, 2013, at $2450/mo., which I would say is a good return, given the apartment's size and location. Apartment 2A, a 2 bedroom, 1 bath unit is currently available for rent at $2600; it has been on the market since September, originally asking $2700. Of course, it does not have the outdoor space associated with unit 5C, but it does have two true bedrooms.

Do not hesitate to contact me if you would like further information about this or any other Brooklyn property.
0 votes Thank Flag Link Mon Nov 5, 2012
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