NOT LISTED FOR SALE

197 E 40th St Brooklyn, NY 11203

East Flatbush Neighborhood

Estimated Value: $981,000 - $1,698,000

6 Beds
4 Baths
4,200 Sq Ft
$286/Sq Ft Est. Value

Last Sold December 03, 2024

Last sale price $995,000 $237 Per Sq Ft

Est. 21% increase in value since last sale

Current estimated payment $7,184/month

165 Days on Market

About This Home

As of December 2024

Discover the advantages of owning a multi-family living in East Flatbush! Nestled on a serene tree-lined street, 197 E 40th Street offers an incredible opportunity for investors and homeowners alike. This spacious gem boasts an ideal layout with four distinct units, providing an impressive array of living options. This multi-family residence is brilliantly designed for both convenience and comfort. The basement features a cozy 1-bedroom unit, while the first floor boasts a well-appointed 2-bedroom, 1-bathroom unit. On the second floor, you'll find a generous 3-bedroom, 1-bathroom unit with ample space. The third floor completes this exceptional property with a 2-bedroom, 1-bathroom unit that offers versatile living arrangements. This property is a rare find, promising versatility, and potential for rental income. With proximity to schools, shopping, and transportation, it's a smart investment in a burgeoning neighborhood. Don't miss out on the chance to make 197 E 40th Street your next home or investment opportunity! Schedule your viewing today and witness the endless possibilities it holds.

Last Agent to Sell the Property

Ian Rubinstein

Redfin Real Estate License #10401334306 Listed on: 10/12/2023

Redfin Real Estate

Last Buyer's Agent

Non Member

Non Member Office

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,572

Year Built

  • Built in 2007

Lot Details

  • 3,028 Sq Ft Lot

Home Design

  • Triplex

Interior Spaces

  • 3-Story Property
  • Laundry in unit

Kitchen

  • Eat-In Kitchen
  • Dishwasher

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Full Bathrooms

Community Details

  • No Home Owners Association
  • 3 Units
  • Northeast Flatbush Subdivision

Listing and Financial Details

  • Legal Lot and Block 0158 / 04894

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,572

Year Built

Built in 2007

Lot Details

0

Listing Details

  • Property SubType: Triplex
  • Property Type: Residential
  • Neighborhood: Northeast Flatbush
  • Structure Type: Triplex
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 3

Interior Features

  • Interior Features: Eat-in Kitchen
  • Appliances: Dishwasher
  • Fireplace: No
  • Living Area Units: Square Feet

Beds/Baths

  • Full Bathrooms: 4
  • Bathrooms Integer: 4
  • Bedrooms: 6

Exterior Features

  • Property Condition: Good Condition

Garage/Parking

  • Garage: No

Utilities

  • Laundry Features: Building Inside, Inside

Condo/Co-op/Association

  • Common Charge/Maintenance Fee Frequency: Monthly
  • Association: No
  • Common Interest: None

Lot Info

  • Lot Size Units: Square Feet
  • Lot Size Area: 3028.0
  • Lot Size Dimensions: 0

Building Info

  • New Construction: No
  • Units: 3
  • Total Stories: 3
  • Year Built: 2007

Rental Info

  • Furnished: Unfurnished

Tax Info

  • Tax Block: 04894
  • Tax Lot: 0158
  • Tax Annual: 10572.0

Multi Family

  • Building Area Units: Square Feet

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 12, 2023
Closed on
Dec 2, 2024
Sold by
Louison Camille and Louison Dave
Bought by
Mahmood Hanif
Seller's Agent
Ian Rubinstein
Redfin Real Estate
Buyer's Agent
Non Member
Non Member Office
List Price
$1,350,000
Sold Price
$995,000
Premium/Discount to List
-$355,000
-26.3%
Views
5
Current Estimated Value
$1,200,737

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$205,737
Avg. Annual Appreciation
19.20%
Original Mortgage
$400,000
Outstanding Balance
$396,133
Interest Rate
6.79%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$804,604

Purchase Details

Closed on
Dec 30, 2008
Sold by
Asdon Eliyahu
Bought by
Louison Camille and Louison Dave

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$180,499
Interest Rate
5.52%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Mar 13, 2008
Sold by
A & E Quality 263-40 Corp
Bought by
Asdon Eliyahu
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Mahmood Hanif $995,000 --
Mahmood Hanif $995,000 --
Louison Camille $685,000 --
Louison Camille $685,000 --
Asdon Eliyahu -- --
Asdon Eliyahu -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Mahmood Hanif $400,000
Closed Mahmood Hanif $400,000
Previous Owner Louison Camille $180,499
Closed Asdon Eliyahu $0
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/03/2024 12/03/24 Sold $995,000 -26.3% $237 / Sq Ft
03/26/2024 03/26/24 Pending -- -- --
10/12/2023 10/12/23 For Sale $1,350,000 -- $321 / 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 $10,947 $90,840 $10,860 $79,980
2024 $10,947 $71,760 $10,860 $60,900
2023 $10,567 $88,080 $10,860 $77,220
2022 $6,345 $79,860 $10,860 $69,000
2021 $4,635 $61,680 $10,860 $50,820
2020 $1,457 $57,120 $10,860 $46,260
2019 $1,220 $45,420 $10,860 $34,560
2018 $1,189 $43,360 $9,822 $33,538
2017 $1,189 $40,906 $8,846 $32,060
2016 $1,166 $38,592 $9,556 $29,036
2015 $704 $38,592 $9,035 $29,557
2014 $704 $38,302 $8,967 $29,335
Source: Public Records

Agents Affiliated with this Home

  • N

    Buyer's Agent in 2024

    Non Member

    Non Member Office

See All Agents

Map

Source: Real Estate Board of New York (REBNY)

MLS Number: RLS10944911

Real Estate Board of New York (REBNY)

APN: 04894-0158

New York Kings County Brooklyn 11203 East Flatbush

197 E 40th St, Brooklyn, NY

Not Listed for Sale

MultiFamily

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