Two-Unit Duplex with
New
For Sale
$979,989
1122 Essex Street, Brooklyn, NY 11239
A full-floor apartment adds a second residence alongside the owner's duplex, with community-drive parking and outdoor space.
Property Size2,460 SF
Price / SF$398.37
Days on Market6
Property Features for 1122 Essex Street
General Information
Standard status
Active
Size
2,460 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$5,417
Building Details
Building Size
2,460 SF
Year Built
2008
Listing Agency:
RE/MAX Elite
Listed By:
Peter DeStefano
(718) 690-3900
Source:
Penrealty
Added: Oct 5
Changed: Oct 7
Last Checked: Oct 9 at 11:57PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Elite
Investment Insights
Based on property information with market context.
Built in 2008, this two-family duplex contains approximately 2,284 square feet, with five bedrooms and three bathrooms overall. The owner's unit is a three-bedroom, two-bath duplex with interior stairs; a separate, full-floor apartment has two bedrooms and one bathroom. Interior details include custom millwork, crown molding, a stone-island kitchen, two stone bathrooms, and laundry on the bedroom level. Gas heat and wall A/C serve the home.
Outdoor features include a fenced, paved yard with patio and raised planters, plus community-drive parking. A full-length crawl space provides additional under-home space. The property is at 1122 Essex St in Brooklyn.
Outdoor features include a fenced, paved yard with patio and raised planters, plus community-drive parking. A full-length crawl space provides additional under-home space. The property is at 1122 Essex St in Brooklyn.
Key Highlights
- Approx. 2,284 sq. ft.; 5 bedrooms and 3 bathrooms total
- Owner's duplex: 3 bedrooms and 2 bathrooms; separate full‑floor unit: 2 bedrooms and 1 bathroom
- Fenced paved yard with patio and raised planters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,153
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,723,060
$1.7M
Cap Rate 7%
$1,230,757
$1.2M
Cap Rate 9%
$957,256
$957.3K
Market Conditions
NOI Build-Up for 2,460 SF
Gross rent
$125.5K $51.00/SF
− Vacancy
−$2.4K −$0.97/SF
EGI
$123.1K $50.03/SF
− OpEx
−$36.9K −$15.01/SF
NOI
$86.2K $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 Rate 5%
$1,723,060
Cap Rate 7%
$1,230,757
Cap Rate 9%
$957,256
Alternative Uses
Best Use
Multifamily LT 5
$1.23M
$1.08M – $1.44M
NOI $86,153 @ 7.0% cap · market cap 8.79%
Second Best
Apartment 5plus
$1.07M
$938.8K – $1.25M
NOI $75,101 @ 7.0% cap · market cap 7.66%
Theoretical Best
Specialty Retail
$2.04M
$1.78M – $2.38M
NOI $142,582 @ 7.0% cap · market cap 14.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,260
Businesses Nearby
Explore this area
Business Placement
Demographics for 11239, NY
17,038
Population
8,883
Households
1.9
Avg Household Size
45
Median Age
22%
College-Educated
87%
High-School Grad
1.7 sq mi
ZIP Area
10,022
Density / Sq Mi
$35,675
Median Household Income
$46,596
Median Earnings
$1,016
Median Rent
$580,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - A full-floor apartment adds a second residence alongside the owner's duplex, with community-drive parking and outdoor space.
Where is this duplex located?
The property is located at 1122 Essex Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $979,989.
What are key features of this property?
This property features: Approx. 2,284 sq. ft.; 5 bedrooms and 3 bathrooms total; Owner's duplex: 3 bedrooms and 2 bathrooms; separate full‑floor unit: 2 bedrooms and 1 bathroom; Fenced paved yard with patio and raised planters
