Brick Duplex with
For Sale
$1,995,000
Pending
341 Gates Avenue, Brooklyn, NY 11216
Residential Income, Brooklyn, NY
Property Size2,700 SF
Lot Size0.05 Acres
Days on Market78
Property Features for 341 Gates Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Basement
Unfinished
Elementary school
Ps 3 Bedford Village
Middle school
Urban Assembly Unison School (The)
High school
Bedford Academy High School
Elementary school district
Brooklyn 13
Middle school district
Brooklyn 13
High school district
Brooklyn 13
Directions
BEDFORD-STUYVESANT neighborhood - From Atlantic Ave make a left onto Bedford Ave. Then make a right onto Gates Ave. (Between Bedford Ave. & Nostrand Ave.)
Standard status
Pending
APN
01807-00095
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
3108
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Amenities
fireplaces
Building Details
Year built
1901
Number of units
2
Building materials
Brick
Listing Agency:
Keller Williams Realty NYC Grp
(718) 697-6800
Listed By:
Miguel E. Falcon · License #10401377102
(646) 355-7946
Added: Jun 24
Changed: Aug 20
Last Checked: Sep 9 at 12:06AM
MLS# 1018890
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 brick duplex at 341 Gates Avenue provides approximately 2,700 sq. ft. of interior living space on a 2,000 sq. ft. lot. The property includes 6 bedrooms and 3 full bathrooms, with woodwork, hardwood, tile, and softwood flooring contributing to its period character. Fireplaces add another distinctive interior feature, while the unfinished basement provides additional storage space.
Built in 1901, the property is served by public water and public sewer. On-street parking is available. Its Brooklyn location places the building near transportation, shops, dining, parks, and other neighborhood amenities.
Built in 1901, the property is served by public water and public sewer. On-street parking is available. Its Brooklyn location places the building near transportation, shops, dining, parks, and other neighborhood amenities.
Key Highlights
- Approximately 2,700 sq. ft. of interior living space
- 2,000 sq. ft. lot with a brick exterior
- 6 bedrooms and 3 full bathrooms
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
$94,559
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
4.74%
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%
$1,891,180
$1.9M
Cap Rate 7%
$1,350,843
$1.4M
Cap Rate 9%
$1,050,656
$1.1M
Market Conditions
NOI Build-Up for 2,700 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
$137.7K $51.00/SF
− Vacancy
−$2.6K −$0.97/SF
EGI
$135.1K $50.03/SF
− OpEx
−$40.5K −$15.01/SF
NOI
$94.6K $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%
$1,891,180
Cap Rate 7%
$1,350,843
Cap Rate 9%
$1,050,656
Alternative Uses
Best Use
Multifamily LT 5
$1.35M
$1.18M – $1.58M
NOI $94,559 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$1.18M
$1.03M – $1.37M
NOI $82,428 @ 7.0% cap · market cap 4.13%
Theoretical Best
Specialty Retail
$2.24M
$1.96M – $2.61M
NOI $156,492 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
6,060
Businesses Nearby
Explore this area
Business Placement
Demographics for 11216, NY
61,251
Population
28,825
Households
2.1
Avg Household Size
34
Median Age
56%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
61,251
Density / Sq Mi
$95,000
Median Household Income
$61,389
Median Earnings
$2,180
Median Rent
$1,398,400
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 - Two-family property with classic interior details, street parking, and an unfinished basement for storage.
Where is this duplex located?
The property is located at 341 Gates Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Approximately 2,700 sq. ft. of interior living space; 2,000 sq. ft. lot with a brick exterior; 6 bedrooms and 3 full bathrooms
