Duplex-Style Raised Home with
For Sale
$668,888
47 Gotham Avenue, Brooklyn, NY 11229
SINGLE_FAMILY - Brooklyn, NY
Property Size1,732 SF
Lot Size0.04 Acres
Price / SF$386.19
Days on Market52
Property Features for 47 Gotham Avenue
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R4
Bedrooms
5
Bathrooms
2
Full bathrooms
1
Rooms
Bathroom 1, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3
Interior features
Dishwasher, Laundry Area, Refrigerator, Stove, Window Treatments
Basement
Crawl Space
Subdivision
Gerritsen Beach
Standard status
Active
Size
1,732 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
5415
Amenities
solar panels
storage space
Building Details
Year built
1930
Flooring type
Laminate, Hardwood
Roof type
Shingle
Architectural style
Other
Listing Agency:
Tracey Real Estate
(718) 376-4994
Listed By:
Robert Tracey · License #TRART8436
(718) 376-4994
Added: Jul 6
Changed: Aug 6
Last Checked: Aug 26 at 7:06AM
MLS# 502795
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 raised home offers five bedrooms and two bathrooms, freshly painted interiors, and multiple recent improvements. The first floor includes newly installed hardwood floors, an oversized living room, a large eat-in kitchen, a full bath, and three bedrooms, with ample closet space throughout. The second floor features a den/laundry room, two bedrooms, a three-quarter bath, and new laminate flooring.
The home is equipped with solar electric that is owned (not leased), and has additional interior conveniences including a dishwasher, refrigerator, stove, and window treatments. Exterior updates include new windows, a new boiler/water heater, and a new concrete sidewalk. With over 1,000 square feet of storage under the raised structure, the space can accommodate bicycles, lawn furniture, and other household items.
Built in 1930, the property sits on a 0.0398-acre lot in R4 zoning and includes a shingle roof. The home’s interior layout consists of bedrooms listed as five total bedrooms and two bathrooms, plus a dedicated laundry area.
The home is equipped with solar electric that is owned (not leased), and has additional interior conveniences including a dishwasher, refrigerator, stove, and window treatments. Exterior updates include new windows, a new boiler/water heater, and a new concrete sidewalk. With over 1,000 square feet of storage under the raised structure, the space can accommodate bicycles, lawn furniture, and other household items.
Built in 1930, the property sits on a 0.0398-acre lot in R4 zoning and includes a shingle roof. The home’s interior layout consists of bedrooms listed as five total bedrooms and two bathrooms, plus a dedicated laundry area.
Key Highlights
- Owned solar electric included (not leased)
- Over 1,000 square feet of storage under the raised home
- Freshly painted, five bedrooms and two 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
$60,658
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
9.07%
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%
$1,213,160
$1.2M
Cap Rate 7%
$866,543
$866.5K
Cap Rate 9%
$673,978
$674.0K
Market Conditions
NOI Build-Up for 1,732 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
$88.3K $51.00/SF
− Vacancy
−$1.7K −$0.97/SF
EGI
$86.7K $50.03/SF
− OpEx
−$26.0K −$15.01/SF
NOI
$60.7K $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%
$1,213,160
Cap Rate 7%
$866,543
Cap Rate 9%
$673,978
Alternative Uses
Best Use
Multifamily LT 5
$866.5K
$758.2K – $1.01M
NOI $60,658 @ 7.0% cap · market cap 9.07%
Second Best
Apartment 5plus
$755.4K
$661.0K – $881.3K
NOI $52,876 @ 7.0% cap · market cap 7.91%
Theoretical Best
Specialty Retail
$1.43M
$1.25M – $1.67M
NOI $100,387 @ 7.0% cap · market cap 15.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
866
Businesses Nearby
Explore this area
Business Placement
Demographics for 11229, NY
83,669
Population
33,353
Households
2.5
Avg Household Size
40
Median Age
41%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
41,835
Density / Sq Mi
$72,556
Median Household Income
$52,948
Median Earnings
$1,666
Median Rent
$812,200
Median Home Value
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 - Raised five-bedroom, two-bath home with owned solar electric, new flooring, new windows, and a full set of modern updates.
Where is this duplex located?
The property is located at 47 Gotham Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $668,888.
What are key features of this property?
This property features: Owned solar electric included (not leased); Over 1,000 square feet of storage under the raised home; Freshly painted, five bedrooms and two bathrooms
