Brick Two-Family
For Sale
$1,250,000
283 Montauk Avenue, Brooklyn, NY 11208
Residential Income, Brooklyn, NY
Property Size2,000 SF
Lot Size0.04 Acres
Price / SF$625
Days on Market535
Property Features for 283 Montauk Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 5, Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 6, Bathroom 1, Bedroom 4
Fencing
Fenced
Basement
Finished, Full
Lot features
Back Yard
Elementary school
East New York Elementary-Excellence
Middle school
Jhs 218 James P Sinnott
High school
Contact Agent
Elementary school district
Brooklyn 19
Middle school district
Brooklyn 19
High school district
Brooklyn 19
Standard status
Active
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3019
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1901
Number of units
2
Flooring type
Hardwood
Building materials
Brick
Listing Agency:
Keller Williams Landmark II · Keller Williams Realty
(347) 846-1200
Listed By:
Shameer Fazal · License #10491207122
(917) 836-3283
Added: Mar 9, 2025
Changed: Aug 20
Last Checked: Aug 26 at 8:06AM
MLS# 833202
Copyright © 2026 OneKey MLS. 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 1901 brick duplex contains approximately 2,000 square feet of living space, along with a fully finished basement featuring high ceilings and a separate front entrance. Hardwood flooring, exposed brick details, contemporary finishes, and two full bathrooms are among the interior features. The first-floor residence includes three bedrooms, a living room, and an updated bathroom. The upper residence offers two bedrooms, a home office, a large living room, cathedral ceilings, and an updated bathroom.
Separate heating systems serve each floor, while the property has three gas meters and three electric meters. The 0.0367-acre lot is fenced and connected to public water and public sewer. The property is located in East New York, Brooklyn, near shopping, dining, schools, and public transportation.
Separate heating systems serve each floor, while the property has three gas meters and three electric meters. The 0.0367-acre lot is fenced and connected to public water and public sewer. The property is located in East New York, Brooklyn, near shopping, dining, schools, and public transportation.
Key Highlights
- 1901 brick duplex with approximately 2,000 sq. ft. of living space
- Fully finished basement with high ceilings and separate front entrance
- First‑floor unit includes three bedrooms and an updated full bath
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
$51,341
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
4.11%
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%
$1,026,820
$1.0M
Cap Rate 7%
$733,443
$733.4K
Cap Rate 9%
$570,456
$570.5K
Market Conditions
NOI Build-Up for 2,000 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
$76.8K $38.40/SF
− Vacancy
−$3.5K −$1.73/SF
EGI
$73.3K $36.67/SF
− OpEx
−$22.0K −$11.00/SF
NOI
$51.3K $25.67/SF
Area
ZIP 11208
Vacancy
4.50%
Lease Rate
$38.40 /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%
$1,026,820
Cap Rate 7%
$733,443
Cap Rate 9%
$570,456
Alternative Uses
Best Use
Multifamily LT 5
$733.4K
$641.8K – $855.7K
NOI $51,341 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$653.1K
$571.4K – $761.9K
NOI $45,714 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,663 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,697
Businesses Nearby
Explore this area
Business Placement
Demographics for 11208, NY
101,958
Population
37,261
Households
2.7
Avg Household Size
35
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
37,762
Density / Sq Mi
$59,988
Median Household Income
$40,156
Median Earnings
$1,563
Median Rent
$638,200
Median Home Value
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 separately heated units include updated baths and a finished basement with its own entrance.
Where is this duplex located?
The property is located at 283 Montauk Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 1901 brick duplex with approximately 2,000 sq. ft. of living space; Fully finished basement with high ceilings and separate front entrance; First‑floor unit includes three bedrooms and an updated full bath
