Two-Family Residential
For Sale
$2,300,000
411 Avenue P, Brooklyn, NY 11223
MULTI_FAMILY - Brooklyn, NY
Property Size1,944 SF
Lot Size0.06 Acres
Price / SF$1,183
Days on Market212
Property Features for 411 Avenue P
General Information
Property type
Residential Multi Family
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking features
Garage - Detached
Interior features
Refrigerator, Stove
Basement
Full
Subdivision
Midwood
Standard status
Active
Size
1,944 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
8297
Building Details
Year built
1935
Flooring type
Hardwood
Building materials
Block
Listing Agency:
Coldwell Banker LaBarca
Listed By:
Michael McGuire
(718) 258-1222
Added: Feb 3
Changed: Jun 18
Last Checked: Sep 3 at 1:06AM
MLS# 498752
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 offering includes a two-family residential property sold with a separate lot located behind the house. The property size is listed at 1,944 square feet, and the additional lot measures 30 feet by 114 feet, providing room for future planning consistent with the seller’s stated intent for builders and investors.
The property is located at 411 Avenue P in Brooklyn, NY 11223 (Kings County). The package is presented as a two-family plus rear lot configuration, with the rear lot support included as part of the sale.
For prospective buyers, this configuration can be useful when seeking flexibility beyond a single structure. The inclusion of the lot behind the house creates a built-in path for buyers evaluating development or expansion opportunities that align with their own plans and due diligence. Interested parties should contact the listing agent for additional details on the property, the included lot, and any other sale terms or documentation available.
The property is located at 411 Avenue P in Brooklyn, NY 11223 (Kings County). The package is presented as a two-family plus rear lot configuration, with the rear lot support included as part of the sale.
For prospective buyers, this configuration can be useful when seeking flexibility beyond a single structure. The inclusion of the lot behind the house creates a built-in path for buyers evaluating development or expansion opportunities that align with their own plans and due diligence. Interested parties should contact the listing agent for additional details on the property, the included lot, and any other sale terms or documentation available.
Key Highlights
- Two‑family home sold with a lot behind the house (30' x 114')
- 1658 East 2nd Street, built in 1935
- Block construction with hardwood flooring
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
$68,082
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
2.96%
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%
$1,361,640
$1.4M
Cap Rate 7%
$972,600
$972.6K
Cap Rate 9%
$756,467
$756.5K
Market Conditions
NOI Build-Up for 1,944 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
$99.1K $51.00/SF
− Vacancy
−$1.9K −$0.97/SF
EGI
$97.3K $50.03/SF
− OpEx
−$29.2K −$15.01/SF
NOI
$68.1K $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%
$1,361,640
Cap Rate 7%
$972,600
Cap Rate 9%
$756,467
Alternative Uses
Best Use
Multifamily LT 5
$972.6K
$851.0K – $1.13M
NOI $68,082 @ 7.0% cap · market cap 2.96%
Second Best
Apartment 5plus
$847.8K
$741.9K – $989.1K
NOI $59,348 @ 7.0% cap · market cap 2.58%
Theoretical Best
Specialty Retail
$1.61M
$1.41M – $1.88M
NOI $112,674 @ 7.0% cap · market cap 4.90%
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
4,341
Businesses Nearby
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
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-family home offered with an additional lot behind the property, suited for builders and residential investors.
Where is this duplex located?
The property is located at 411 Avenue P Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Two‑family home sold with a lot behind the house (30' x 114'); 1658 East 2nd Street, built in 1935; Block construction with hardwood flooring
