Colonial Duplex with Two 2-Bed
For Sale
$649,999
1038 Remsen Avenue, Brooklyn, NY 11236
MULTI_FAMILY - Colonial - Brooklyn, NY
Property Size1,060 SF
Lot Size0.06 Acres
Price / SF$613.21
Days on Market172
Property Features for 1038 Remsen Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R4-1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 1, Bathroom 2
Basement
Unfinished, Full
Subdivision
Canarsie
Standard status
Active
Size
1,060 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
6526
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating)
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Building materials
Vinyl Siding
Architectural style
Colonial
Listing Agency:
Robert DeFalco Realty, Inc.
(718) 987-7900
Listed By:
Ragheb Mick Baig
(347) 922-1325
Added: Mar 18
Changed: Aug 2
Last Checked: Sep 5 at 9:06AM
MLS# 2601393
Copyright © 2026 Staten Island Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Colonial-style duplex features two 2-bedroom, 1-bath units and is currently tenant-occupied. The home includes an unfinished basement and a private driveway that leads to a garage. Constructed with vinyl siding, the property is served by public sewer and heated with natural gas and hot water heating.
Set on a 0.0574-acre lot, the building totals 1,060 square feet and was built in 1930. The listing is a short sale and is subject to third-party approval.
Drive-by only; please do not disturb tenants. The property includes multiple bedrooms and bathrooms across the two units.
Set on a 0.0574-acre lot, the building totals 1,060 square feet and was built in 1930. The listing is a short sale and is subject to third-party approval.
Drive-by only; please do not disturb tenants. The property includes multiple bedrooms and bathrooms across the two units.
Key Highlights
- Two 2‑bedroom, 1‑bath units in a tenant‑occupied duplex
- Private driveway leading to a garage
- Unfinished basement
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,123
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$742,460
$742.5K
Cap Rate 7%
$530,329
$530.3K
Cap Rate 9%
$412,478
$412.5K
Market Conditions
NOI Build-Up for 1,060 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$54.1K $51.00/SF
− Vacancy
−$1.0K −$0.97/SF
EGI
$53.0K $50.03/SF
− OpEx
−$15.9K −$15.01/SF
NOI
$37.1K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$742,460
Cap Rate 7%
$530,329
Cap Rate 9%
$412,478
Alternative Uses
Best Use
Multifamily LT 5
$530.3K
$464.0K – $618.7K
NOI $37,123 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$462.3K
$404.5K – $539.4K
NOI $32,361 @ 7.0% cap · market cap 4.98%
Theoretical Best
Specialty Retail
$877.7K
$768.0K – $1.02M
NOI $61,438 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,508
Businesses Nearby
Explore this area
Business Placement
Demographics for 11236, NY
100,687
Population
37,002
Households
2.7
Avg Household Size
40
Median Age
28%
College-Educated
88%
High-School Grad
3.6 sq mi
ZIP Area
27,969
Density / Sq Mi
$82,813
Median Household Income
$50,244
Median Earnings
$1,637
Median Rent
$710,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-family, tenant-occupied duplex zoned R4-1, with an unfinished basement and a private driveway to a garage.
Where is this duplex located?
The property is located at 1038 Remsen Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $649,999.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units in a tenant‑occupied duplex; Private driveway leading to a garage; Unfinished basement
