Duplex with Finished
For Sale
$1,125,000
1981 New York Avenue, Brooklyn, NY 11210
Residential, Duplex, Brooklyn, NY
Property Size1,408 SF
Lot Size0.05 Acres
Price / SF$799.01
Days on Market71
Property Features for 1981 New York Avenue
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R4
Bedrooms
3
Bathrooms
3
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 3, Bedroom 3, Bathroom 1
Parking features
Garage - Detached
Patio and Porch features
Porch
Interior features
A/C Unit - Wall, A/C Unit - Window, Dishwasher, Laundry Area, Microwave, Porch, Refrigerator, Stove
Basement
Finished, Full
Subdivision
Midwood
Standard status
Active
Size
1,408 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
7580
Amenities
front porch
newly finished basement
Building Details
Year built
1925
Floors in Building
2
Flooring type
Tile, Laminate, Parquet Wood
Building materials
Wood Frame
Roof type
Flat
Architectural style
Other
Listing Agency:
Brooklyn Residential R E Serv
Listed By:
Kim Stavrach · License #STAIM1078
(718) 676-1755
Added: Jul 13
Changed: Sep 15
Last Checked: Sep 21 at 10:06PM
MLS# 502973
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.
This 1,408-square-foot duplex is a semi-detached residential property built in 1925. The home includes three bedrooms and three bathrooms, along with a front porch, shared driveway, detached garage, and newly finished basement. Interior features include a dishwasher, microwave, refrigerator, stove, laundry area, and wall- or window-mounted A/C units. Tile, parquet wood, and laminate flooring are installed throughout, with wood-frame construction and a flat roof.
The property is located at 1981 New York Avenue in Brooklyn's 11210 ZIP code. It occupies a 2,200-square-foot lot measuring 22 by 100 feet and carries R4 zoning. The stated FAR is .64/.75, with a maximum buildable area of 1,649 square feet. A certificate of occupancy is identified as 28253/24.
The property is located at 1981 New York Avenue in Brooklyn's 11210 ZIP code. It occupies a 2,200-square-foot lot measuring 22 by 100 feet and carries R4 zoning. The stated FAR is .64/.75, with a maximum buildable area of 1,649 square feet. A certificate of occupancy is identified as 28253/24.
Key Highlights
- 3‑bedroom, 3‑bathroom duplex
- 1,408 square feet of building area
- 2,200‑square‑foot lot measuring 22x100
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
$49,311
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
4.38%
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%
$986,220
$986.2K
Cap Rate 7%
$704,443
$704.4K
Cap Rate 9%
$547,900
$547.9K
Market Conditions
NOI Build-Up for 1,408 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
$71.8K $51.00/SF
− Vacancy
−$1.4K −$0.97/SF
EGI
$70.4K $50.03/SF
− OpEx
−$21.1K −$15.01/SF
NOI
$49.3K $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%
$986,220
Cap Rate 7%
$704,443
Cap Rate 9%
$547,900
Alternative Uses
Best Use
Multifamily LT 5
$704.4K
$616.4K – $821.9K
NOI $49,311 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$614.1K
$537.3K – $716.4K
NOI $42,985 @ 7.0% cap · market cap 3.82%
Theoretical Best
Specialty Retail
$1.17M
$1.02M – $1.36M
NOI $81,608 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,268
Businesses Nearby
Explore this area
Business Placement
Demographics for 11210, NY
62,805
Population
22,817
Households
2.8
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
39,253
Density / Sq Mi
$83,261
Median Household Income
$50,286
Median Earnings
$1,734
Median Rent
$817,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Semi-detached residential property with a porch, detached garage, and newly finished basement.
Where is this duplex located?
The property is located at 1981 New York Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: 3‑bedroom, 3‑bathroom duplex; 1,408 square feet of building area; 2,200‑square‑foot lot measuring 22x100
