Average Rent for a 1BR

We have a two family house and our rental unit is currently a 2 BR. We are thinking of taking over one of the bedrooms for our own use but we’re not sure if we’re able to that financially. I’ve tried looking at real estate websites and Craig’s List to get an idea of the average rent for a 1 bedroom apartment but they’re all over the place. Is there some sort of price/square foot that is used to determine rent? If not, does anyone know what the average rent would be for a 700 square foot, 1 BR, garden level (separate entrance), new (but small) kitchen with dishwasher, new bath, wood floors, a/c on a nice block in Gowanus near trains? Thanks for any info.

zlt99

in Landlord 10 years and 5 months ago

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CTG | 10 years and 5 months ago

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$2000/month for a dark basement studio apartment is obscene – no wonder the turnover. SMH!!!! “Garden under the deck” – you mean an unkempt patch of concrete, right!? LMAO!

landlord | 10 years and 5 months ago

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go to rentometer.com

cate | 10 years and 5 months ago

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Could be about $2,000 to $2,400 a month, depending on location, nearby amenities, attractiveness of the unit, etc. Brick Underground just published a story about rental prices: http://www.brickunderground.com/blog/2014/12/spareroom_2014_data

boredatwork | 10 years and 5 months ago

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Why not talk to a broker? A good one actually knows the market and will give you a realistic picture of the potential rent for the 1BR vs. the 2BR. Rents are “all over the place” in Brownstone Brooklyn and Gowanus bc many units are in small, owner occupied buildings with different configurations and amenities. I have a 2 family in CG. Years ago, before we rented out our garden level two room studio off of Smith Street, we had no idea of the actual market price. Its about 700 sq ft +/- but with no AC, a large EIK, full bathroom with a tub and a large front room that doubles as a LR and BR. Good closets, too and they have access to the garden under the deck. After some turnover over the last few years, we signed a lease this past fall with a tenant for $2000/mo. And they paid the brokers fee.