Duplex Residential Income Property with Private
For Sale
$999,000
113 VANDERBILT Avenue B, Brooklyn, NY 11205
Two-bedroom condominium with deeded parking, outdoor space, and professional management within an intimate townhouse community.
Property Size1,053 SF
Price / SF$948.72
Days on Market79
Property Features for 113 VANDERBILT Avenue B
General Information
Standard status
Active
Size
1,053 SF
Property subtype
Duplex
Property Condition
Severity
Repairs Needed
Evidence
apartment needs to be updated
Units
Unit Mix
1 x 2BR/1.5BA
Multifamily Units
1
Amenities
private backyard
private parking
pet-friendly
Building Details
Building Size
1,053 SF
Year Built
1993
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Patrick Ben Hayoun
(917) 214-6888
Source:
Howardhannanyc
Added: Jun 21
Changed: Sep 5
Last Checked: Sep 7 at 8:27AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This duplex condominium offers two bedrooms, one full bath, and one half bath within a connected townhouse community. The residence includes a private backyard and deeded parking, along with pet-friendly policies and professional property management. The interior requires updating, providing a renovation-oriented residential opportunity while retaining the existing layout and outdoor features.
The property is located at 113 Vanderbilt Avenue B in Brooklyn, NY 11205, near the Clinton Hill and Fort Greene area. The surrounding context includes Fort Greene Park, the Brooklyn Navy Yard ferry, Brooklyn Academy of Music, Mark Morris Dance Center, The Center for Fiction, and the Paramount Theatre. Dining, shopping, cultural venues, and neighborhood amenities are also nearby.
The property is located at 113 Vanderbilt Avenue B in Brooklyn, NY 11205, near the Clinton Hill and Fort Greene area. The surrounding context includes Fort Greene Park, the Brooklyn Navy Yard ferry, Brooklyn Academy of Music, Mark Morris Dance Center, The Center for Fiction, and the Paramount Theatre. Dining, shopping, cultural venues, and neighborhood amenities are also nearby.
Key Highlights
- Duplex condominium with 2 bedrooms, 1 full bath, and 1 half bath
- Private backyard for outdoor use
- Deeded private parking included
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
$32,147
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
3.22%
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%
$642,940
$642.9K
Cap Rate 7%
$459,243
$459.2K
Cap Rate 9%
$357,189
$357.2K
Market Conditions
NOI Build-Up for 1,053 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
$59.6K $56.64/SF
− Vacancy
−$1.2K −$1.13/SF
EGI
$58.4K $55.51/SF
− OpEx
−$26.3K −$24.98/SF
NOI
$32.1K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$642,940
Cap Rate 7%
$459,243
Cap Rate 9%
$357,189
Alternative Uses
Best Use
Apartment 5plus
$459.2K
$401.8K – $535.8K
NOI $32,147 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$871.9K
$762.9K – $1.02M
NOI $61,032 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,981
Businesses Nearby
Explore this area
Business Placement
Demographics for 11205, NY
50,474
Population
19,200
Households
2.6
Avg Household Size
30
Median Age
52%
College-Educated
86%
High-School Grad
1.2 sq mi
ZIP Area
42,062
Density / Sq Mi
$86,753
Median Household Income
$59,901
Median Earnings
$2,307
Median Rent
$892,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with deeded parking, outdoor space, and professional management within an intimate townhouse community.
Where is this residential income property located?
The property is located at 113 VANDERBILT Avenue B Brooklyn, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Duplex condominium with 2 bedrooms, 1 full bath, and 1 half bath; Private backyard for outdoor use; Deeded private parking included
