Detached Two-Family Home with Private
For Sale
$848,000
1211 E 48th Street, Brooklyn, NY 11234
MULTI_FAMILY - Brooklyn, NY
Property Size1,840 SF
Lot Size0.06 Acres
Price / SF$460.87
Days on Market108
Property Features for 1211 E 48th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
4
Bathrooms
3
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 4, Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Bathroom 3
Parking features
Garage - Detached
Patio and Porch features
Porch
Interior features
A/C Unit - Wall, Dishwasher, Dryer, Laundry Area, Porch, Refrigerator, Stove, Washer
Basement
Finished
Subdivision
Flatlands
Standard status
Active
Size
1,840 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
6773
Amenities
covered porch
sunroom
backyard
outdoor terrace
Building Details
Year built
1940
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Brick
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Yu-Fen (Madeline) Chiu
(718) 612-3088
Added: May 11
Changed: Aug 4
Last Checked: Aug 26 at 8:06AM
MLS# 501222
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.
Detached two-family home built in 1940 with brick construction, hardwood and tile flooring, and a private driveway. The home offers a main level with a bright front sunroom, formal living and dining areas, a kitchen with direct access to the backyard and an outdoor terrace, plus a half bathroom and a laundry area. The second floor features three bedrooms and a full bathroom with both a bathtub and a standing shower. A walk-in lower level includes separate front and rear entrances and flexible living space, along with storage areas, a laundry room, a boiler room, and an updated full bathroom. Interior features include wall A/C, dishwasher, refrigerator, stove, washer, and dryer.
Set on a 0.0574-acre lot (1,840 SF), the property is located near Kings Highway and East 48th Street. Transportation options include B41, B46, and BM1 and BM2 express bus service to Manhattan.
The detached two-family configuration, private driveway, and two-car detached garage make this a functional home for multi-generational living or for those seeking additional space.
Set on a 0.0574-acre lot (1,840 SF), the property is located near Kings Highway and East 48th Street. Transportation options include B41, B46, and BM1 and BM2 express bus service to Manhattan.
The detached two-family configuration, private driveway, and two-car detached garage make this a functional home for multi-generational living or for those seeking additional space.
Key Highlights
- Detached two‑family home on a 0.0574‑acre lot (1,840 SF)
- Brick construction built in 1940
- R4 zoning with private driveway and detached two‑car garage
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
$64,440
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
7.60%
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%
$1,288,800
$1.3M
Cap Rate 7%
$920,571
$920.6K
Cap Rate 9%
$716,000
$716.0K
Market Conditions
NOI Build-Up for 1,840 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
$93.8K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$92.1K $50.03/SF
− OpEx
−$27.6K −$15.01/SF
NOI
$64.4K $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%
$1,288,800
Cap Rate 7%
$920,571
Cap Rate 9%
$716,000
Alternative Uses
Best Use
Multifamily LT 5
$920.6K
$805.5K – $1.07M
NOI $64,440 @ 7.0% cap · market cap 7.60%
Second Best
Apartment 5plus
$802.5K
$702.2K – $936.2K
NOI $56,173 @ 7.0% cap · market cap 6.62%
Theoretical Best
Specialty Retail
$1.52M
$1.33M – $1.78M
NOI $106,646 @ 7.0% cap · market cap 12.58%
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
2,018
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
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 - R4-zoned detached two-family with private driveway, detached two-car garage, porch, and a walk-in lower level.
Where is this duplex located?
The property is located at 1211 E 48th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $848,000.
What are key features of this property?
This property features: Detached two‑family home on a 0.0574‑acre lot (1,840 SF); Brick construction built in 1940; R4 zoning with private driveway and detached two‑car garage
