Duplex with Finished
For Sale
$975,000
941 Crescent Street, Brooklyn, NY 11208
Residential Income, Brooklyn, NY
Property Size2,080 SF
Lot Size0.07 Acres
Price / SF$468.75
Days on Market31
Property Features for 941 Crescent Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 6, Bedroom 2, Bedroom 4, Bathroom 1, Basement, Bathroom 4, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 3
Parking features
Driveway
Interior features
Walk-In Closet(s)
Basement
Finished
Lot features
Level
Elementary school
Ps 224 Hale A Woodruff
Middle school
Van Siclen Community Middle School
High school
School For Classics High School
Elementary school district
Brooklyn 19
Middle school district
Brooklyn 19
High school district
Brooklyn 19
Directions
between Stanley and Wortman Ave
Standard status
Active
APN
04529-0043
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7342
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
window/wall A/C units
fenced concrete yard
Building Details
Year built
2005
Number of units
2
Flooring type
Hardwood, Carpet
Building materials
Stucco, Vinyl Siding
Listing Agency:
EXP Realty
(888) 276-0630
Listed By:
Gregory H. Taylor · License #10301207909
(917) 805-5411
Added: Jul 29
Changed: Aug 20
Last Checked: Aug 28 at 8:06PM
MLS# 1023833
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.
Built in 2005, this two-family residence offers approximately 2,080 square feet arranged across two nearly matching units. Each unit includes three bedrooms, two full bathrooms, a living room, a separate dining area, and a galley kitchen with cabinet storage. Hardwood and carpet flooring, natural-gas baseboard heat, and individual window or wall air-conditioning units serve the home.
A full finished basement provides additional usable space and includes a fifth full bathroom. The fenced concrete rear yard and driveway support on-site parking or storage. Public water and public sewer serve the property, with water availability also listed. Located at 941 Crescent Street in Brooklyn, the property is near schools, parks, shopping, dining, and public transportation. The home is offered as-is, with buyer due diligence required.
A full finished basement provides additional usable space and includes a fifth full bathroom. The fenced concrete rear yard and driveway support on-site parking or storage. Public water and public sewer serve the property, with water availability also listed. Located at 941 Crescent Street in Brooklyn, the property is near schools, parks, shopping, dining, and public transportation. The home is offered as-is, with buyer due diligence required.
Key Highlights
- Two‑family home built in 2005
- Approximately 2,080 sq ft with two nearly identical units
- Each unit has 3 bedrooms and 2 full baths
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
$53,394
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
5.48%
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%
$1,067,880
$1.1M
Cap Rate 7%
$762,771
$762.8K
Cap Rate 9%
$593,267
$593.3K
Market Conditions
NOI Build-Up for 2,080 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
$79.9K $38.40/SF
− Vacancy
−$3.6K −$1.73/SF
EGI
$76.3K $36.67/SF
− OpEx
−$22.9K −$11.00/SF
NOI
$53.4K $25.67/SF
Area
ZIP 11208
Vacancy
4.50%
Lease Rate
$38.40 /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%
$1,067,880
Cap Rate 7%
$762,771
Cap Rate 9%
$593,267
Alternative Uses
Best Use
Multifamily LT 5
$762.8K
$667.4K – $889.9K
NOI $53,394 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$679.2K
$594.3K – $792.4K
NOI $47,543 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $89,089 @ 7.0% cap · market cap 9.14%
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
1,196
Businesses Nearby
Explore this area
Business Placement
Demographics for 11208, NY
101,958
Population
37,261
Households
2.7
Avg Household Size
35
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
37,762
Density / Sq Mi
$59,988
Median Household Income
$40,156
Median Earnings
$1,563
Median Rent
$638,200
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 property with separate living spaces, supplemental basement area, and a fenced concrete rear yard.
Where is this duplex located?
The property is located at 941 Crescent Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Two‑family home built in 2005; Approximately 2,080 sq ft with two nearly identical units; Each unit has 3 bedrooms and 2 full baths
