Brick Two-Family Duplex with Central
For Sale
$1,599,000
8426 23rd Avenue, Brooklyn, NY 11214
MULTI_FAMILY - Brooklyn, NY
Property Size3,480 SF
Lot Size0.08 Acres
Price / SF$459.48
Days on Market115
Property Features for 8426 23rd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 3, Bathroom 1
Parking features
Garage
Interior features
Central Air
Basement
Full, Finished
Subdivision
Bensonhurst
Standard status
Active
Size
3,480 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
7166
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Rubber
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Michelle J. Zhang · License #MZ4172
(718) 612-3088
Added: May 2
Changed: Aug 8
Last Checked: Aug 24 at 6:06PM
MLS# 501084
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.
Fully detached brick two-family duplex offering a flexible layout currently enjoyed as a grand one-family residence. The home was completely renovated approximately 15 years ago and features soaring ceilings, elegant finishes, and a finished lower level accessible from the first floor. The first floor includes a huge living room, one bedroom, a well-appointed kitchen, and a full bathroom.
The second floor is highlighted by a primary suite with approximately high ceilings, a private oversized balcony, and a massive walk-in closet. The en-suite bath includes a large jacuzzi massage tub and separate standing shower, plus high-end finishes. An additional generously sized bedroom with its own bathroom and access to another private balcony completes this level.
Separate heating and hot water systems provide flexibility for future use, supported by two gas meters and two electric meters. Exterior amenities include a private driveway and a built-in garage with parking for up to 5 vehicles. Built in 1920, the roof is rubber and the home includes central air, along with tile and hardwood flooring. The property sits on a 0.0799-acre lot totaling 3,480 square feet, with convenient access to shopping, restaurants, banks, schools, and the D subway line, just minutes from 86th Street.
The second floor is highlighted by a primary suite with approximately high ceilings, a private oversized balcony, and a massive walk-in closet. The en-suite bath includes a large jacuzzi massage tub and separate standing shower, plus high-end finishes. An additional generously sized bedroom with its own bathroom and access to another private balcony completes this level.
Separate heating and hot water systems provide flexibility for future use, supported by two gas meters and two electric meters. Exterior amenities include a private driveway and a built-in garage with parking for up to 5 vehicles. Built in 1920, the roof is rubber and the home includes central air, along with tile and hardwood flooring. The property sits on a 0.0799-acre lot totaling 3,480 square feet, with convenient access to shopping, restaurants, banks, schools, and the D subway line, just minutes from 86th Street.
Key Highlights
- 0.0799‑acre lot totaling 3,480 SF
- Completely renovated approximately 15 years ago
- Primary suite with private oversized balcony and massive walk‑in closet
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
$94,916
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
5.94%
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%
$1,898,320
$1.9M
Cap Rate 7%
$1,355,943
$1.4M
Cap Rate 9%
$1,054,622
$1.1M
Market Conditions
NOI Build-Up for 3,480 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
$142.0K $40.80/SF
− Vacancy
−$6.4K −$1.84/SF
EGI
$135.6K $38.96/SF
− OpEx
−$40.7K −$11.69/SF
NOI
$94.9K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /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%
$1,898,320
Cap Rate 7%
$1,355,943
Cap Rate 9%
$1,054,622
Alternative Uses
Best Use
Multifamily LT 5
$1.36M
$1.19M – $1.58M
NOI $94,916 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$1.22M
$1.06M – $1.42M
NOI $85,067 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,104 @ 7.0% cap · market cap 8.89%
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
3,812
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
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 - Fully detached two-family duplex with central air, renovated living space, and private driveway plus garage parking.
Where is this duplex located?
The property is located at 8426 23rd Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: 0.0799‑acre lot totaling 3,480 SF; Completely renovated approximately 15 years ago; Primary suite with private oversized balcony and massive walk‑in closet
