S
Seller's Agent in 2025
Saeed Sabooni
Compass
(917) 662-1402
1 in this area
5 Total Sales
265 Covert St Brooklyn, NY 11207
Bushwick Neighborhood
9
Beds
6
Baths
3,300
Sq Ft
1899
Built
Highlights
- Private Yard
- No Heating
- 4-minute walk to Irving Square Park
- No HOA
About This Home
As of March 2025This Bushwick, Brooklyn property offers a prime investment opportunity with its legal 3-family designation and an estimated renovated market value of $2.2 million. Key highlights include:
Lot and Building Dimensions: Set on a 20x100 lot with a building size 20x55.
Zoning: Situated in an R6 zoning area, allowing for development potential.
Interior Layout: Features 3 bedrooms and 2 full bathrooms.
Property Taxes: Benefit from a low tax rate of $3,900.
Location: Ideally located with easy access to dining, supermarkets, and public transportation.
Investment Potential: An all-cash purchase is required, making it ideal for investors. The property is fully gutted and ready for restoration with new plumbing, electrical systems, insulation, and more.
Renovation Plans: Comes with architect-approved renovation plans.
This property is a fantastic opportunity for investors looking to capitalize on the vibrant and growing Bushwick neighborhood.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,900
Year Built
- Built in 1899
Lot Details
- Lot Dimensions are 20.000000x100.000000
- Private Yard
Parking
- On-Street Parking
Home Design
- Triplex
- Entry on the 1st floor
Interior Spaces
- 3,300 Sq Ft Home
- 3-Story Property
- Basement Fills Entire Space Under The House
Bedrooms and Bathrooms
- 9 Bedrooms
- 6 Full Bathrooms
Utilities
- No Cooling
- No Heating
Community Details
- No Home Owners Association
- 3 Units
- Bushwick Subdivision
Listing and Financial Details
- Legal Lot and Block 39 / 03418
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Oct 27, 2024
Closed on
Mar 6, 2025
Sold by
265 Covert Gole Llc
Bought by
265 Covert St Llc
Seller's Agent
Saeed Sabooni
Compass
List Price
$1,288,888
Sold Price
$1,249,500
Premium/Discount to List
-$39,388
-3.06%
Views
17
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$786
Avg. Annual Appreciation
0.08%
Original Mortgage
$950,000
Outstanding Balance
$943,479
Interest Rate
6.87%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$306,807
Purchase Details
Closed on
Mar 25, 2024
Sold by
Referee Mark A. Longo Esq.
Bought by
265 Covert Gole Llc
Purchase Details
Closed on
Jan 30, 2007
Sold by
Scott Patricia
Bought by
Scott Morris and Scott Patricia
Purchase Details
Closed on
Nov 24, 1998
Sold by
Riley Lucille
Bought by
Scott Patricia
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$155,431
Interest Rate
6.74%
Mortgage Type
FHA
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $1,249,500 | -- | |
| Deed | $1,249,500 | -- | |
| Deed | $1,120,075 | -- | |
| Deed | $1,120,075 | -- | |
| Deed | $1,120,075 | -- | |
| Interfamily Deed Transfer | -- | -- | |
| Interfamily Deed Transfer | -- | -- | |
| Bargain Sale Deed | $155,000 | Commonwealth Land Title Ins | |
| Bargain Sale Deed | $155,000 | Commonwealth Land Title Ins |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $950,000 | Purchase Money Mortgage | |
| Closed | $950,000 | Purchase Money Mortgage | |
| Previous Owner | $155,431 | FHA | |
| Closed | $0 | No Value Available |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 03/06/2025 03/06/25 | Sold | $1,249,500 | -3.1% | $379 / Sq Ft |
| 02/19/2025 02/19/25 | Pending | -- | -- | -- |
| 10/27/2024 10/27/24 | For Sale | $1,288,888 | -- | $391 / Sq Ft |
Source: Real Estate Board of New York (REBNY)
Tax History Compared to Growth
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 | $4,224 | $86,400 | $11,280 | $75,120 |
| 2024 | $4,224 | $79,140 | $11,280 | $67,860 |
| 2023 | $4,031 | $97,140 | $11,280 | $85,860 |
| 2022 | $3,740 | $83,100 | $11,280 | $71,820 |
| 2021 | $3,725 | $77,400 | $11,280 | $66,120 |
| 2020 | $1,849 | $72,420 | $11,280 | $61,140 |
| 2019 | $3,666 | $69,000 | $11,280 | $57,720 |
| 2018 | $3,371 | $16,539 | $2,497 | $14,042 |
| 2017 | $3,183 | $15,614 | $3,129 | $12,485 |
| 2016 | $2,948 | $14,748 | $3,989 | $10,759 |
| 2015 | $1,557 | $14,727 | $3,361 | $11,366 |
| 2014 | $1,557 | $14,604 | $3,765 | $10,839 |
Source: Public Records
Agents Affiliated with this Home
-
Saeed Sabooni
Map
Source: Real Estate Board of New York (REBNY)
MLS Number: RLS11018117
APN: 03418-0039
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This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., All rights reserved.
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