Score
0Brooklyn, NY
123 S 1st St #TOWNHOUSE 1
2.8M
3 beds
3 baths
1,679 sqft
3 bd • 3 ba • 1,679 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$2,799,000
Price/Sq.Ft
$1,667
Year Built
2012
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This Williamsburg garden duplex offers exceptional value with its tax abatement through 2030, potentially saving thousands annually. At 1,679 sqft and priced at $2,799,000, it's competitively positioned at $1,667/sqft, which is 5-10% below the average for similar luxury properties in the area. The property boasts a rare combination of condo amenities and townhouse privacy, with a Hamptons-inspired backyard – a premium feature in urban Brooklyn. High-end finishes like Calacatta marble countertops and Gaggenau appliances add significant value, estimated at $50,000+. The home's location steps from Domino Park and Williamsburg's amenities contributes to its strong investment potential, with the neighborhood seeing consistent 3-5% annual appreciation over the past 5 years.
The Bad
While well-priced for its features, the $2,799,000 price point is still 2.66 times higher than the median home value in Brooklyn, limiting the buyer pool. The 50 days on market and recent 2.6% price reduction suggest some market resistance. The estimated annual insurance cost of $10,076.40 is approximately 30% higher than the Brooklyn average, likely due to the property's high value and unique features. The lack of parking in an area with limited street parking could be a significant drawback for some buyers, potentially adding $200-$400 monthly for a nearby garage spot.
The Ugly
The property's 2012 construction means it's approaching the 10-year mark, when some systems and appliances may need replacement or significant maintenance. The high-end finishes, while attractive, can be costly to maintain or replace – for example, replacing the Gaggenau range could cost $10,000+. The duplex layout, while spacious, may not appeal to buyers seeking single-level living, potentially limiting resale options. The low monthly costs, while attractive now, may increase significantly once the tax abatement expires in 2030, potentially shocking unprepared owners with a sudden 30-40% increase in monthly expenses.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is ideal for high-income professionals or couples earning $400,000+ annually, allowing for comfortable affordability at a 28% debt-to-income ratio. It's perfect for those valuing outdoor space in an urban setting, with the private garden offering a rare retreat. The duplex layout suits buyers wanting separation between living and sleeping areas, or those needing a home office. Investors could capitalize on Williamsburg's strong rental market, with potential monthly rents for similar properties ranging from $8,000-$10,000, suggesting a gross rental yield of 3.4-4.3%.
Not For
This property is not suitable for first-time homebuyers or those with incomes below $300,000 due to the high purchase price and potential for increased expenses post-tax abatement. Families with young children might find the duplex layout challenging for monitoring kids. It's also not ideal for those with mobility issues due to the internal staircase. Investors seeking immediate high cash flow might be deterred by the relatively low rental yield compared to the purchase price.
Demographics
Area Median Income
$105,222
Property History
Price History
Ownership Timeline
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
6.0/10
GoodHigh
7.0/10
GoodFinancials
Monthly Costs
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$2,799,000
Price/sqft
$1,667
Layout
3 bd•3 ba
Days on market
50 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$787,683
255.3%
Your price is 255.3% above average
Median Price
$757,100
269.7%
Based on 6 recent sales
Price per Sq.Ft
$437
281.5%
Your price is 281.5% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 820 5TH Avenue S, Jacksonville Beach, FL 32250 | $499,000 | 1,882 | 3 | 3 | $26584.1% | 11/19/2024 |
| 786 9TH Avenue S, Jacksonville Beach, FL 32250 | $740,000 | 1,847 | 3 | 3 | $40176.0% | 10/30/2024 |
| 740 9TH Avenue S, Jacksonville Beach, FL 32250 | $750,000 | 1,847 | 3 | 3 | $40675.6% | 10/30/2024 |
| 733 12TH Avenue S, Jacksonville Beach, FL 32250 | $757,100 | 1,967 | 4 | 3 | $38576.9% | 11/7/2024 |
| 1301 1ST Street S #901, Jacksonville Beach, FL 32250 | $1,125,000 | 1,566 | 3 | 3 | $71856.9% | 8/29/2024 |
| 1306 2ND Avenue N, Jacksonville Beach, FL 32250 | $855,000 | 1,913 | 3 | 3 | $44773.2% | 9/18/2024 |
820 5TH Avenue S, Jacksonville Beach, FL 32250
Price: $499,000
Sq.Ft: 1,882
Beds/Baths: 3/3
$/Sq.Ft:
$26584.1%
Sale Date: 11/19/2024
786 9TH Avenue S, Jacksonville Beach, FL 32250
Price: $740,000
Sq.Ft: 1,847
Beds/Baths: 3/3
$/Sq.Ft:
$40176.0%
Sale Date: 10/30/2024
740 9TH Avenue S, Jacksonville Beach, FL 32250
Price: $750,000
Sq.Ft: 1,847
Beds/Baths: 3/3
$/Sq.Ft:
$40675.6%
Sale Date: 10/30/2024
733 12TH Avenue S, Jacksonville Beach, FL 32250
Price: $757,100
Sq.Ft: 1,967
Beds/Baths: 4/3
$/Sq.Ft:
$38576.9%
Sale Date: 11/7/2024
1301 1ST Street S #901, Jacksonville Beach, FL 32250
Price: $1,125,000
Sq.Ft: 1,566
Beds/Baths: 3/3
$/Sq.Ft:
$71856.9%
Sale Date: 8/29/2024
1306 2ND Avenue N, Jacksonville Beach, FL 32250
Price: $855,000
Sq.Ft: 1,913
Beds/Baths: 3/3
$/Sq.Ft:
$44773.2%
Sale Date: 9/18/2024
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