Duplex with Flat
For Sale
$1,725,000
1021 Union Street, Brooklyn, NY 11225
SINGLE_FAMILY - Brooklyn, NY
Property Size1,400 SF
Lot Size0.03 Acres
Price / SF$1,232
Days on Market11
Property Features for 1021 Union Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R8A
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 3
Patio and Porch features
Deck
Interior features
Deck, Refrigerator, Stove, Terrace
Basement
Finished
Subdivision
Crown Heights
Standard status
Active
Size
1,400 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
4433
Building Details
Year built
1930
Flooring type
Ceramic, Hardwood
Roof type
Flat
Architectural style
Other
Listing Agency:
Home Express Realty LLC.
(917) 975-1569
Listed By:
Longin Konarski
(917) 975-1569
Added: Aug 2
Changed: Aug 3
Last Checked: Aug 12 at 8:06PM
MLS# 503471
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 duplex at 1021 Union Street, Brooklyn, NY 11225 includes multiple interior living spaces plus outdoor deck and terrace features. The home has hardwood and ceramic flooring, a flat roof, and year-built listed as 1930. The room layout includes three bedrooms and two bathrooms.
The property is situated on a 0.0252-acre lot and is listed with a property size of 1,400 square feet. Zoning is R8A. The transaction is described as a cash deal preference.
For buyers or tenants seeking a duplex with outdoor deck/terrace elements and an R8A zoning designation, this provides a compact, well-defined residential configuration in Brooklyn.
The property is situated on a 0.0252-acre lot and is listed with a property size of 1,400 square feet. Zoning is R8A. The transaction is described as a cash deal preference.
For buyers or tenants seeking a duplex with outdoor deck/terrace elements and an R8A zoning designation, this provides a compact, well-defined residential configuration in Brooklyn.
Key Highlights
- R8A zoning designation
- 0.0252‑acre lot
- 1,400 SF duplex
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
$49,030
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
2.84%
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%
$980,600
$980.6K
Cap Rate 7%
$700,429
$700.4K
Cap Rate 9%
$544,778
$544.8K
Market Conditions
NOI Build-Up for 1,400 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
$71.4K $51.00/SF
− Vacancy
−$1.4K −$0.97/SF
EGI
$70.0K $50.03/SF
− OpEx
−$21.0K −$15.01/SF
NOI
$49.0K $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%
$980,600
Cap Rate 7%
$700,429
Cap Rate 9%
$544,778
Alternative Uses
Best Use
Multifamily LT 5
$700.4K
$612.9K – $817.2K
NOI $49,030 @ 7.0% cap · market cap 2.84%
Second Best
Apartment 5plus
$610.6K
$534.3K – $712.4K
NOI $42,741 @ 7.0% cap · market cap 2.48%
Theoretical Best
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $81,144 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,842
Businesses Nearby
Explore this area
Business Placement
Demographics for 11225, NY
58,786
Population
26,703
Households
2.2
Avg Household Size
36
Median Age
48%
College-Educated
89%
High-School Grad
0.9 sq mi
ZIP Area
65,318
Density / Sq Mi
$85,201
Median Household Income
$54,639
Median Earnings
$1,733
Median Rent
$1,218,300
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 - R8A-zoned Brooklyn duplex with deck/terrace features and hardwood and ceramic flooring.
Where is this duplex located?
The property is located at 1021 Union Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,725,000.
What are key features of this property?
This property features: R8A zoning designation; 0.0252‑acre lot; 1,400 SF duplex
