Two-Family Brick
For Sale
$1,700,000
74 Kermit Place, Brooklyn, NY 11218
MULTI_FAMILY - Brooklyn, NY
Property Size2,840 SF
Lot Size0.04 Acres
Price / SF$598.59
Days on Market59
Property Features for 74 Kermit Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5B
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 1
Interior features
Refrigerator, Stove
Basement
Full, Finished
Subdivision
Flatbush
Standard status
Active
Size
2,840 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
7444
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Hang (Tyler) Chen · License #HC3855
(917) 708-9966
Added: Jun 30
Changed: Aug 9
Last Checked: Aug 27 at 10:06PM
MLS# 502686
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 two-family brick duplex at 74 Kermit Place offers approximately 2,840 square feet of living area on a 0.0367-acre lot. The property features a flat roof and includes interior appliances such as a refrigerator and stove. With two-family layout supported by multiple bedrooms and bathrooms, it can suit a range of residential setups including owner occupancy and investment use.
The home is located on a quiet, tree-lined block in Brooklyn’s Windsor Terrace area, just moments from Prospect Park and neighborhood shops and restaurants. Public transportation access includes the F and G trains.
Built in 1910, the building’s brick construction and flat roof are key physical characteristics for buyers evaluating long-term residential living or rental potential in an established neighborhood setting.
The home is located on a quiet, tree-lined block in Brooklyn’s Windsor Terrace area, just moments from Prospect Park and neighborhood shops and restaurants. Public transportation access includes the F and G trains.
Built in 1910, the building’s brick construction and flat roof are key physical characteristics for buyers evaluating long-term residential living or rental potential in an established neighborhood setting.
Key Highlights
- Two‑family brick duplex on 0.0367 acres
- Approximately 2,840 SF residential building area
- Zoned R5B
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
$99,462
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
5.85%
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%
$1,989,240
$2.0M
Cap Rate 7%
$1,420,886
$1.4M
Cap Rate 9%
$1,105,133
$1.1M
Market Conditions
NOI Build-Up for 2,840 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
$144.8K $51.00/SF
− Vacancy
−$2.8K −$0.97/SF
EGI
$142.1K $50.03/SF
− OpEx
−$42.6K −$15.01/SF
NOI
$99.5K $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%
$1,989,240
Cap Rate 7%
$1,420,886
Cap Rate 9%
$1,105,133
Alternative Uses
Best Use
Multifamily LT 5
$1.42M
$1.24M – $1.66M
NOI $99,462 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$1.24M
$1.08M – $1.45M
NOI $86,702 @ 7.0% cap · market cap 5.10%
Theoretical Best
Specialty Retail
$2.35M
$2.06M – $2.74M
NOI $164,606 @ 7.0% cap · market cap 9.68%
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
2,788
Businesses Nearby
Explore this area
Business Placement
Demographics for 11218, NY
78,642
Population
27,403
Households
2.9
Avg Household Size
35
Median Age
51%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
56,173
Density / Sq Mi
$95,916
Median Household Income
$55,190
Median Earnings
$1,966
Median Rent
$914,300
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 brick duplex zoned R5B with a flat roof and interior kitchen appliances, built in 1910.
Where is this duplex located?
The property is located at 74 Kermit Place Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Two‑family brick duplex on 0.0367 acres; Approximately 2,840 SF residential building area; Zoned R5B
