Legal Two-Family
For Sale
$829,000
Pending
294 Schenck Avenue, Brooklyn, NY 11207
Residential Income, Brooklyn, NY
Property Size2,200 SF
Lot Size0.05 Acres
Days on Market125
Property Features for 294 Schenck Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Basement, Bedroom 6, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 3, Bedroom 5
Parking features
On Street
Interior features
First Floor Bedroom, First Floor Full Bath, High Ceilings
Basement
Finished, Full
Lot features
Back Yard, Garden, Near Public Transit, Near School, Near Shops
Elementary school
Ps 158 Warwick
Middle school
Jhs 292 Margaret S Douglas
High school
W H Maxwell Career And Tech Hs
Elementary school district
Brooklyn 19
Middle school district
Brooklyn 19
High school district
Brooklyn 19
Standard status
Pending
APN
03995-0021
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1592
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1930
Number of units
3
Flooring type
Hardwood
Building materials
Frame, Vinyl Siding
Listing Agency:
EXP Realty
(888) 276-0630
Listed By:
Christine M. Ortiz
(347) 856-7953
Added: May 8
Changed: Sep 5
Last Checked: Sep 9 at 12:06PM
MLS# 997152
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 legal two-family duplex contains approximately 2,200 square feet of living space in a frame structure with vinyl siding, hardwood flooring, and high ceilings. The layout includes a 2-bedroom, 1-bathroom upper residence, a 3-bedroom, 1-bathroom lower apartment, and a finished basement with an additional bedroom and bathroom. Built in 1930, the property also features natural gas heat, wall and window unit cooling, and first-floor bedroom and full-bath access.
The home is located at 294 Schenck Avenue in Brooklyn's East New York area. Public transportation, shopping, schools, restaurants, parks, and major thoroughfares are nearby, with access to the A, C, J, and Z subway lines, multiple bus routes, Jackie Robinson Parkway, and Belt Parkway. The property will be delivered vacant and includes public water, public sewer, water availability, and on-street parking.
The home is located at 294 Schenck Avenue in Brooklyn's East New York area. Public transportation, shopping, schools, restaurants, parks, and major thoroughfares are nearby, with access to the A, C, J, and Z subway lines, multiple bus routes, Jackie Robinson Parkway, and Belt Parkway. The property will be delivered vacant and includes public water, public sewer, water availability, and on-street parking.
Key Highlights
- Legal 2‑family duplex with approximately 2,200 square feet of living space
- 2‑bedroom, 1‑bathroom unit over a 3‑bedroom, 1‑bathroom apartment
- Finished basement includes 1 bedroom and 1 bathroom
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
$67,164
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
8.10%
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%
$1,343,280
$1.3M
Cap Rate 7%
$959,486
$959.5K
Cap Rate 9%
$746,267
$746.3K
Market Conditions
NOI Build-Up for 2,200 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
$124.6K $56.64/SF
− Vacancy
−$2.5K −$1.13/SF
EGI
$122.1K $55.51/SF
− OpEx
−$55.0K −$24.98/SF
NOI
$67.2K $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%
$1,343,280
Cap Rate 7%
$959,486
Cap Rate 9%
$746,267
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$963.1K – $1.28M
NOI $77,048 @ 7.0% cap · market cap 9.29%
Second Best
Apartment 5plus
$959.5K
$839.6K – $1.12M
NOI $67,164 @ 7.0% cap · market cap 8.10%
Theoretical Best
Specialty Retail
$1.82M
$1.59M – $2.13M
NOI $127,512 @ 7.0% cap · market cap 15.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,159
Businesses Nearby
Explore this area
Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
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 - Delivered vacant, the property includes high ceilings, hardwood flooring, public water and sewer, and on-street parking.
Where is this duplex located?
The property is located at 294 Schenck Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $829,000.
What are key features of this property?
This property features: Legal 2‑family duplex with approximately 2,200 square feet of living space; 2‑bedroom, 1‑bathroom unit over a 3‑bedroom, 1‑bathroom apartment; Finished basement includes 1 bedroom and 1 bathroom
