Brooklyn NY - all advice is appreciated!

[Neil Stern]

Hi, any advice would be much appreciated!!!

I am looking at a multi family (3 unit) deal in East Flatbush, Brooklyn NY - Based on my research with brokers, I believe i can get the property to an NOI of 35k.

1- Based on this, is it safe to assume that I can get a buyer at to buy this at $35,000/.06 =$583,000? Is that a sound way to evaluate the future property value? What is the correct cap rate to use when doing such an analysis

2- How important is average cost per Square Foot when analyzing a deal as well as future  potential prices? 

3-what are average closing costs in Brooklyn NY 

As you can tell, first time investor here - I think i have a great deal, but i need a little more confidence in the deal before i pull the trigger!

Thanks in advance,

Neil