NOT LISTED FOR SALE

Estimated Value: $1,063,537 - $1,472,000

6 Beds
3 Baths
2,492 Sq Ft
$502/Sq Ft Est. Value

Last Sold October 16, 2019

Last sale price $960,000 $385 Per Sq Ft

Est. 30% increase in value since last sale

Current estimated payment $6,820/month

158 Days on Market

Highlights

  • Pre War Building
  • 4-minute walk to Gates Avenue
  • 4-minute walk to Heckscher Playground

About This Home

As of October 2019

Presenting 1187 Gates Ave, this three story, 19 FT wide, two family property plus a finished basement and a 100+ SF extension on each floor, in total, yields over 3000 SF of interior space. Located in Bushwick near to the Gates Ave J & Z train station and currently arranged as 3 separate units, 1187 Gates Ave is an attractive opportunity for the investor in the know or an end user to convert and reside in an upper duplex while collecting a considerate rental income from the two bedroom garden unit. The top floor was recently gut renovated and features two, spacious bedrooms on either end and a dual living + kitchen combination in the center, brand new hardwood flooring, kitchen cabinetry and counter tops. The second floor has 2 bedrooms and is currently occupied with a tenant. The building layout could be alternatively reconfigured as floor though, 3 bedroom apartments. The garden floor currently has exclusive access to the backyard. With some creativity and personal touch, this building could be turned into your income producing, dream home. The mechanicals are in well maintained, working condition and were upgraded recently. Transportation into Manhattan via the Gates ave J & Z train stop is conveniently accessible by a mere 2 blocks. Bushwick enjoys an established entertainment, culinary and bar scene, while welcoming frequent, new additions that complement the existing street scene.

Last Agent to Sell the Property

Kashif Khan

Compass License #10401232424 Listed on: 02/06/2019

Compass

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $2,216

Year Built

  • Built in 1920

Lot Details

  • Lot Dimensions are 19.0 x 100.0

Home Design

  • Pre War Building

Interior Spaces

  • 2,492 Sq Ft Home
  • 3-Story Property

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 3 Full Bathrooms

Community Details

  • Bushwick Subdivision

Listing and Financial Details

  • Legal Lot and Block 19 / 3331

Home Details

Home Type

Single Family

Est. Annual Taxes

$2,216

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Cross Street: Bushwick Avenue/Evergreen Avenue
  • Property SubType: Single Family Residence
  • Property Type: Residential
  • Neighborhood: Bushwick
  • Architectural Style: Prewar
  • ResoPropertyType: Residential
  • Special Features: None
  • Property Sub Type: Detached
  • Stories: 3

Interior Features

  • Living Area: 2492.0
  • Living Area Units: Square Feet
  • Rooms (Total): 9

Beds/Baths

  • Full Bathrooms: 3
  • Bathrooms Integer: 3
  • Bedrooms: 6

Garage/Parking

  • Garage: No

Lot Info

  • Lot Size Dimensions: 19.0 x 100.0

Building Info

  • Total Stories: 3
  • Year Built: 1920

Tax Info

  • Tax Block: 3331
  • Tax Lot: 19

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 6, 2019
Closed on
Oct 16, 2019
Sold by
Harris Jerry
Bought by
Reyes Alberto and Reyes Alexandra
Seller's Agent
Kashif Khan
Compass
List Price
$960,000
Sold Price
$960,000
Current Estimated Value
$1,250,134

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$290,134
Avg. Annual Appreciation
3.91%
Original Mortgage
$768,000
Outstanding Balance
$677,240
Interest Rate
3.5%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$524,393

Purchase Details

Closed on
Jun 30, 1998
Sold by
Harris Glenn
Bought by
Harris Jerry

Purchase Details

Closed on
Mar 6, 1996
Sold by
Bonds Sallie
Bought by
Harris Glenn
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Reyes Alberto $960,000 --
Harris Jerry $167,000 Chicago Title Insurance Co
Harris Glenn -- Stewart Title Insurance Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Reyes Alberto $768,000
Previous Owner Harris Jerry $127,453
Previous Owner Harris Jerry $416,245
Previous Owner Harris Jerry $119,524
Previous Owner Harris Jerry $70,000
Previous Owner Harris Jerry $347,000
Previous Owner Harris Jerry $26,162
Previous Owner Harris Jerry $226,413
Previous Owner Harris Jerry $12,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/16/2019 10/16/19 Sold $960,000 0.0% $385 / Sq Ft
07/15/2019 07/15/19 Pending -- -- --
02/06/2019 02/06/19 For Sale $960,000 -- $385 / Sq Ft
Source: Real Estate Board of New York (REBNY)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $2,216 $67,200 $16,620 $50,580
2024 $2,216 $65,880 $16,620 $49,260
2023 $2,117 $80,040 $16,620 $63,420
2022 $1,598 $75,840 $16,620 $59,220
2021 $2,325 $58,560 $16,620 $41,940
2020 $1,835 $54,900 $16,620 $38,280
2019 $1,150 $54,900 $16,620 $38,280
2018 $1,030 $8,686 $2,650 $6,036
2017 $1,199 $8,210 $2,285 $5,925
2016 $1,078 $7,761 $2,886 $4,875
2015 $630 $7,761 $3,248 $4,513
2014 $630 $7,663 $3,505 $4,158
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Real Estate Board of New York (REBNY)

MLS Number: RLS10567883

Real Estate Board of New York (REBNY)

APN: 03331-0019