NOT LISTED FOR SALE

3842 Flatlands Ave Brooklyn, NY 11234

Marine Park Neighborhood

Estimated Value: $823,511

Studio
-- Bath
2,600 Sq Ft
$317/Sq Ft Est. Value

Sale Details

Date Sold: June 5, 2020

Last sale price $680,000 $262 Per Sq Ft

Est. 21% increase in value since last sale

Current estimated payment $5,882 / mo

Highlights

  • Wood Flooring
  • Fenced Yard
  • Back Yard
  • PS 222 Katherine R Snyder Rated A
  • Heating System Uses Steam
  • 1-minute walk to Sarsfield Playground

About This Home

As of June 2020

Investment Opportunity - This is a handyman special, but it's in a an area that is in high demand.
Collect rent from 3 tenants and one store or live in one of the apartments that are on a month to month basis.
The building requires a major renovation cosmetically but the bones seem to be all good and working.
Flatlands Avenue is heavily trafficked and is only a few blocks from Mt Sanai Kings Highway Hospital. There are ample schools and houses of worship in the community and there is a park across the street.
You're only a stone's throw from one of Brooklyn's most famous commercial strips...FLATBUSH AVE.
This is a true diamond in the rough. The building is currently underperforming and with the proper care and improvements, it can become a beautiful shiny opportunity in an area that is buzzing with excitement.
If you're looking for a project that can be most rewarding financially, then you owe it to yourself to come and see this special opportunity.

Last Agent to Sell the Property

John Reinhardt

eXp Realty BKNY Listed on: 01/10/2020

eXp Realty BKNY

Last Buyer's Agent

John Reinhardt

eXp Realty BKNY Listed on: 01/10/2020

eXp Realty BKNY

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $12,685

Year Built

  • Built in 1931

Lot Details

  • 2,000 Sq Ft Lot
  • Lot Dimensions are 20x100
  • Fenced Yard
  • Back Yard
  • Property is zoned R3-2

Home Design

  • Mixed Use
  • Flat Roof Shape
  • Brick Exterior Construction
  • Poured Concrete
  • Plaster Walls

Interior Spaces

  • 2,600 Sq Ft Home
  • 2-Story Property
  • Ceiling height between 8 to 10 feet
  • Unfinished Basement
  • Basement Fills Entire Space Under The House

Flooring

  • Wood
  • Laminate

Utilities

  • Heating System Uses Steam
  • Heating System Uses Gas
  • 110 Volts
  • Gas Water Heater

Listing and Financial Details

  • Tax Block 7858

Community Details

Overview

  • 3 Units

Building Details

  • 1 Vacant Unit
  • Fuel Expense $3,900
  • Insurance Expense $2,800
  • Utility Expense $2,400
  • Gross Income $55,500

Property Details

Property Type

Other

Est. Annual Taxes

$12,685

Year Built

Built in 1931

Lot Details

2,000 Sq Ft Lot

Listing Details

  • Basement Amenities: Full, Unfinished
  • Borough: Brooklyn
  • Building Length: 65.00
  • Building Width: 20.00
  • Commercial Condo Y N: No
  • Commercial Features Exterior: Doors - 10 ft and under, Sign - Building
  • Commercial Features Interior: Fire - Smoke Alarm
  • Confirmed By M L S Y N: Yes
  • Cross Street: Ryder St
  • Cross Street Name2: Kimball St
  • Handicap Access Y N U: No
  • Heat Delivery: Steam/Radiator
  • Negotiate Thru: Broker
  • Number Of Available Units: 1
  • Number Of Families: 3
  • Parking Attributes: None
  • Parking Feature Single: None
  • Property Sub Type: Mixed Use
  • Prop. Type: Mixed Use
  • Fill Sq Ft Total: 2600
  • Building Stories: 2
  • Street Name I D X: Flatlands
  • Waterfront Present: No
  • Year Built: 1931
  • Special Features: None
  • Stories: 2

Interior Features

  • Ceiling: 8-10 Foot
  • Flooring: Hardwood, Laminate, Other
  • Lot Sq Ft: 2000
  • Walls: Plaster

Exterior Features

  • Yard: Back, Fenced - Full
  • Exterior Building Type: Attached
  • Construction Type: Block
  • Exterior: Brick
  • Foundation Details: Poured Concrete
  • Lot Number: 45
  • Road Frontage: 20
  • Roof: Flat

Utilities

  • Air Conditioning Units: 0
  • Electric: 110 V
  • Equipment Included: As Is There are no warrantees as to equipment included
  • Heating Fuel: Gas
  • Hot Water: Gas

Fee Information

  • Annual Fuel Expense: 3900.00

Lot Info

  • Lot Dimensions: 20x100
  • Lot Size Irregular: No
  • Lot Size Length: 100
  • Lot Size Width: 20
  • Zoning: R3-2

Rental Info

  • Tenant Monthly Rent: 4500.00

Multi Family

  • Annual Gross Expense: 15000.00
  • Annual Gross Income: 55500
  • Insurance Expense: 2800.00
  • Miscellaneous Expense: 3115.00
  • Unit Count: 4
  • Annual Utility Expenses: 2400.00

Tax Info

  • Flip Tax Amount: 12685.04

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 10, 2020
Closed on
Jun 5, 2020
Sold by
Bought by
Seller's Agent
John Reinhardt
eXp Realty BKNY
Buyer's Agent
John Reinhardt
eXp Realty BKNY
Sold Price
$680,000
Current Estimated Value
$823,511

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$143,511
Avg. Annual Appreciation
3.23%
Original Mortgage
$510,000
Outstanding Balance
$445,945
Interest Rate
3.3%
Mortgage Type
New Conventional
Estimated Equity
$377,566
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$680,000 --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $510,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
06/05/2020 06/05/20 Sold $680,000 -- $262 / Sq Ft
01/10/2020 01/10/20 Pending -- -- --
Source: Brooklyn Board of REALTORS®

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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
2026 $17,055 $211,950 $62,550 $149,400
2025 $16,529 $181,800 $62,550 $119,250
2024 $16,529 $151,650 $62,550 $89,100
2023 $15,017 $140,850 $62,550 $78,300
2022 $13,869 $144,000 $62,550 $81,450
2021 $12,875 $126,000 $62,550 $63,450
2020 $11,455 $152,100 $62,550 $89,550
2019 $12,826 $190,350 $62,550 $127,800
Source: Public Records

Agents Affiliated with this Home

  • John Reinhardt

    Seller's Agent in 2020

    John Reinhardt

    eXp Realty BKNY

    (888) 883-8509

    1 in this area

    16 Total Sales

    John Reinhardt
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Map

Source: Brooklyn Board of REALTORS®

MLS Number: 435833

Brooklyn Board of REALTORS®

APN: 07858-0045

New York Kings County Brooklyn 11234 Marine Park

3842 Flatlands Ave, Brooklyn, NY

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Brooklyn Board of REALTORS® The property information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information is deemed reliable, but not guaranteed. The data relating to real estate for sale on this web site comes in part from the participating Brokers.

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