NOT LISTED FOR SALE

Estimated Value: $974,000 - $1,549,623

4 Beds
8 Baths
2,928 Sq Ft
$409/Sq Ft Est. Value

Last Sold March 30, 2023

Last sale price $999,000 $341 Per Sq Ft

Est. 20% increase in value since last sale

Current estimated payment $7,278/month

47 Days on Market

Highlights

  • Pre War Building
  • Building Patio
  • Wood Burning Fireplace
  • Terrace
  • Patio

About This Home

As of March 2023

This is a lovely fully detached 2 family located in the private and exclusive neighborhood of Sea Gate, Brooklyn. The property is set on a 5,000 sq ft lot providing the owner a vast amount of space to play with. The current owners were spoiled with their own Enchanted Garden Oasis where they would sit out on their secluded patio on gorgeous weather nights and entertain or simply relax on a hammock. Residents of this development neighborhood enjoy their own resident beach front to walk along 365 days of the year. An added feature is an in ground lawn sprinkler system to maintain your greenery throughout the Spring, Summer, and Fall seasons.

The interior of the house has spotty renovations within it.

On the 1st floor, you have the rental unit consisting of 2 Bedrooms, 2 Full Bathrooms, a Living Room, and an Open Concept to Dining Area Eat in Kitchen with island. Potential rental income for this unit is $2,000 per month / $24,000 per year.

The 2nd Unit consists of the 2nd & 3rd floors.

On the 2nd floor you have an Eat in Kitchen with Island, a Living Room, 2 Bedrooms, 1 Full Bathroom, and a half-bathroom.

3rd floor is mainly 3 Bedrooms along with a full bathroom. One of the three bedrooms comes with a walkout rear facing terrace.

All levels of the property feature waterfront views.

The heating system such as the boiler and hot water heater were newly installed and upgraded in 2012. There is also a bran new roof that was completed in 2014. The property's exterior has been newly painted months ago.

Expenses include flood insurance since it is a waterfront property which is an additional $756.00 per year not including average home insurance. Taxes are $6,747. There is an HOA Fee to be paid by residents of Sea Gate to the Management company which is $4,360 per year, this pays for general maintenance of the neighborhood.

The development comes with a private beach and pool club for residents to enjoy as well.

This is simply not a house - its a beach waterfront property with tons of potential enough for anyone to make it their dream home.

Last Agent to Sell the Property

Lou Guida

Keller Williams Realty Empire License #10401294496 Listed on: 10/28/2022

Keller Williams Realty Empire

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $9,106

Year Built

  • Built in 1930

Lot Details

  • 5,000

Home Design

  • Pre War Building

Interior Spaces

  • 2,928 Sq Ft Home
  • 2-Story Property
  • Wood Burning Fireplace

Bedrooms and Bathrooms

  • 4 Bedrooms

Outdoor Features

  • Patio
  • Terrace

Additional Features

  • Lot Dimensions are 50.0 x 100.0
  • Window Unit Cooling System

Listing and Financial Details

  • Legal Lot and Block 25 / 7024

Community Details

Overview

  • Sea Gate Subdivision

Amenities

  • Building Patio
  • Building Terrace

Home Details

Home Type

Single Family

Est. Annual Taxes

$9,106

Year Built

Built in 1930

Lot Details

0

Listing Details

  • Cross Street: Beach 50th Street/Beach 51st Street
  • Property SubType: Single Family Residence
  • Property Type: Residential
  • Neighborhood: Sea Gate
  • Architectural Style: Prewar
  • ResoPropertyType: Residential
  • Special Features: None
  • Property Sub Type: Detached
  • Stories: 2

Interior Features

  • Fireplace Features: Wood Burning
  • Fireplace: Yes
  • Living Area: 2928.0
  • Living Area Units: Square Feet
  • Rooms (Total): 11

Beds/Baths

  • Full Bathrooms: 6
  • Half Bathrooms: 2
  • Bathrooms Integer: 6
  • Bedrooms: 4

Exterior Features

  • Patio/Porch Features: Building Patio, Building Terrace, Patio, Terrace

Garage/Parking

  • Garage: No

Utilities

  • Cooling: Building Cooling, Window Unit(s)

Fee Information

  • Annual Water Sewer Expense: 760.0

Lot Info

  • Lot Size Dimensions: 50.0 x 100.0

Building Info

  • Total Stories: 2
  • Year Built: 1930

Tax Info

  • Tax Block: 7024
  • Tax Lot: 25

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 28, 2022
Closed on
Mar 30, 2023
Sold by
Acevedo Linda and Acevedo Luis A
Bought by
Chan Ning Yi and Chan Tik Ho
Seller's Agent
Lou Guida
Keller Williams Realty Empire
List Price
$1,199,000
Sold Price
$999,000
Premium/Discount to List
-$200,000
-16.68%
Views
81
Current Estimated Value
$1,196,406

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$197,406
Avg. Annual Appreciation
8.43%
Original Mortgage
$799,200
Outstanding Balance
$778,255
Interest Rate
6.5%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$435,797

Purchase Details

Closed on
Jul 26, 1995
Sold by
Acevedo Luis
Bought by
Acevedo Luis A and Acevedo Linda

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$100,000
Interest Rate
7.71%
Mortgage Type
Seller Take Back
Source: Public Records

Range of Values:

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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

Date Buyer Sale Price Title Company
Chan Ning Yi $999,000 --
Chan Ning Yi $999,000 --
Acevedo Luis A $100,000 Commonwealth Land Title Ins
Acevedo Luis A -- Commonwealth Land Title Ins
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Chan Ning Yi $799,200
Closed Chan Ning Yi $799,200
Previous Owner Acevedo Linda $40,800
Previous Owner Acevedo Linda $154,211
Previous Owner Acevedo Linda $225,000
Previous Owner Acevedo Luis A $83,134
Previous Owner Acevedo Luis A $35,000
Previous Owner Acevedo Luis A $100,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/30/2023 03/30/23 Sold $999,000 -9.1% $341 / Sq Ft
01/02/2023 01/02/23 Pending -- -- --
12/01/2022 12/01/22 Price Changed $1,099,000 -8.3% $375 / Sq Ft
11/15/2022 11/15/22 For Sale $1,199,000 -- $409 / 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 $9,106 $65,760 $28,380 $37,380
2024 $9,106 $62,880 $28,380 $34,500
2023 $8,686 $56,100 $28,380 $27,720
2022 $6,747 $75,900 $15,960 $59,940
2021 $6,761 $65,700 $15,960 $49,740
2020 $5,071 $56,580 $15,960 $40,620
2019 $6,607 $50,040 $15,960 $34,080
2018 $6,046 $31,120 $10,058 $21,062
2017 $5,686 $29,361 $10,090 $19,271
2016 $5,277 $27,945 $8,168 $19,777
2015 $3,121 $27,943 $12,230 $15,713
2014 $3,121 $27,489 $12,031 $15,458
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Real Estate Board of New York (REBNY)

MLS Number: RLS10839562

Real Estate Board of New York (REBNY)

APN: 07024-0025