Vacant Two-Family Duplex
For Sale
$799,000
17 Margaret Court, Brooklyn, NY 11235
Residential, Brooklyn, NY
Property Size1,170 SF
Lot Size0.03 Acres
Price / SF$682.91
Days on Market56
Property Features for 17 Margaret Court
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
3
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 3, Bathroom 4
Interior features
Central Air - Split, Laundry Area, Refrigerator, Stove
Basement
Full, Finished
Subdivision
Sheepshead Bay
Standard status
Active
Size
1,170 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
5878
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Wood Frame
Listing Agency:
Pride Estates
Listed By:
Danny D. Chung
(718) 569-2888
Added: Aug 7
Changed: Sep 30
Last Checked: Oct 1 at 5:06PM
MLS# 503536
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.
Located at 17 Margaret Court in Brooklyn, this two-family duplex property contains 1,170 square feet on a 0.0292-acre lot and was built in 1920. The first apartment spans two levels, with two bedrooms, a half bathroom, living room, eat-in kitchen, and full bathroom. A second apartment occupies the rear of the first floor and includes one bedroom, one full bathroom, living room, and kitchen.
The basement has a separate entrance and provides two recreation rooms, a wet bar, half bathroom, heating room, and storage. Building systems include two electric meters, two gas meters, two heating systems, and two hot water heaters, along with split-system air conditioning. Hardwood and tile flooring, a laundry area, refrigerator, and stove are also included.
The property is on a quiet side street near shopping, restaurants, schools, parks, and places of worship. Sheepshead Bay Subway Station, served by the B and Q lines, is minutes away. The property is zoned R5, and both apartments are vacant.
The basement has a separate entrance and provides two recreation rooms, a wet bar, half bathroom, heating room, and storage. Building systems include two electric meters, two gas meters, two heating systems, and two hot water heaters, along with split-system air conditioning. Hardwood and tile flooring, a laundry area, refrigerator, and stove are also included.
The property is on a quiet side street near shopping, restaurants, schools, parks, and places of worship. Sheepshead Bay Subway Station, served by the B and Q lines, is minutes away. The property is zoned R5, and both apartments are vacant.
Key Highlights
- Two‑family duplex property with 1,170 square feet on a 0.0292‑acre lot
- First apartment includes 2 bedrooms, 1/2 bathroom, living room, eat‑in kitchen, and full bathroom
- Second apartment has 1 bedroom, 1 full bathroom, living room, and kitchen
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
$40,975
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
5.13%
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%
$819,500
$819.5K
Cap Rate 7%
$585,357
$585.4K
Cap Rate 9%
$455,278
$455.3K
Market Conditions
NOI Build-Up for 1,170 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
$59.7K $51.00/SF
− Vacancy
−$1.1K −$0.97/SF
EGI
$58.5K $50.03/SF
− OpEx
−$17.6K −$15.01/SF
NOI
$41.0K $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%
$819,500
Cap Rate 7%
$585,357
Cap Rate 9%
$455,278
Alternative Uses
Best Use
Multifamily LT 5
$585.4K
$512.2K – $682.9K
NOI $40,975 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$510.3K
$446.5K – $595.3K
NOI $35,719 @ 7.0% cap · market cap 4.47%
Theoretical Best
Specialty Retail
$968.8K
$847.7K – $1.13M
NOI $67,813 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,939
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two vacant apartments include separate utility systems and split-system air conditioning.
Where is this duplex located?
The property is located at 17 Margaret Court Brooklyn, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑family duplex property with 1,170 square feet on a 0.0292‑acre lot; First apartment includes 2 bedrooms, 1/2 bathroom, living room, eat‑in kitchen, and full bathroom; Second apartment has 1 bedroom, 1 full bathroom, living room, and kitchen
