Semi-Detached Brick Home with
For Sale
$1,499,000
1073 E 3rd Street, Brooklyn, NY 11230
Residential, Duplex, Brooklyn, NY
Property Size1,448 SF
Lot Size0.05 Acres
Price / SF$1,035
Days on Market110
Property Features for 1073 E 3rd Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R3-1
Bedrooms
3
Rooms
Bedroom 1, Bedroom 2, Bedroom 3
Basement
Unfinished
Subdivision
Midwood
Standard status
Active
Size
1,448 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
7651
Building Details
Year built
1930
Floors in Building
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
Behfar Team, LLC
Listed By:
Karen Behfar
(347) 988-2526
Added: May 18
Changed: Aug 31
Last Checked: Sep 4 at 7:06PM
MLS# 501515
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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.
1073 E 3rd Street is a one-family brick home with a semi-detached layout, situated on a 20 x 100 lot with a 13 x 55 building footprint. The property has been gutted to the studs, offering a clean starting point for a redesign and buildout. A wide shared driveway provides access to the back of the property, supporting practical outdoor access during and after renovations. Approved floor plans are already in place to extend the home and add a third floor.
The property is located in Brooklyn, NY 11230, in zoning R3-1.
With the existing shell ready and renovation plans prepared for an extension and third-floor addition, this home is positioned for buyers, builders, or investors looking to move forward using an approved vision.
The property is located in Brooklyn, NY 11230, in zoning R3-1.
With the existing shell ready and renovation plans prepared for an extension and third-floor addition, this home is positioned for buyers, builders, or investors looking to move forward using an approved vision.
Key Highlights
- One‑family brick home built in 1930 with shingle roof on a 20 x 100 lot
- 13 x 55 building footprint with semi‑detached layout
- Home has been gutted to the studs for a clean redesign and rebuild
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
$44,206
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
2.95%
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%
$884,120
$884.1K
Cap Rate 7%
$631,514
$631.5K
Cap Rate 9%
$491,178
$491.2K
Market Conditions
NOI Build-Up for 1,448 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
$82.0K $56.64/SF
− Vacancy
−$1.6K −$1.13/SF
EGI
$80.4K $55.51/SF
− OpEx
−$36.2K −$24.98/SF
NOI
$44.2K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$884,120
Cap Rate 7%
$631,514
Cap Rate 9%
$491,178
Alternative Uses
Best Use
Apartment 5plus
$631.5K
$552.6K – $736.8K
NOI $44,206 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $83,926 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,994
Businesses Nearby
Explore this area
Business Placement
Demographics for 11230, NY
91,391
Population
34,269
Households
2.7
Avg Household Size
35
Median Age
44%
College-Educated
82%
High-School Grad
1.8 sq mi
ZIP Area
50,773
Density / Sq Mi
$69,522
Median Household Income
$43,135
Median Earnings
$1,734
Median Rent
$863,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Brick one-family home on a 20x100 lot, gutted to the studs, with approved plans to add a third floor.
Where is this single family property located?
The property is located at 1073 E 3rd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: One‑family brick home built in 1930 with shingle roof on a 20 x 100 lot; 13 x 55 building footprint with semi‑detached layout; Home has been gutted to the studs for a clean redesign and rebuild
