East Flatbush Two-Family Limestone
For Sale
$1,050,000
902 Brooklyn Ave, Brooklyn, NY 11203
Two-family limestone home in East Flatbush, close to transportation.
Property Size2,228 SF
Lot Size0.05 Acres
Days on Market284
Property Features for 902 Brooklyn Ave
General Information
Standard status
Active
Size
2,228 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$6,797
Building Details
Building Size
2,228 SF
Year Built
1910
Stories
2
Listed By:
David Hanniford
(718) 758-0600
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 31
Last Checked: Sep 8 at 5:13AM
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 David Hanniford
Investment Insights
Based on property information with market context.
This is a fully attached two-family limestone home located in East Flatbush. The property features a three-bedroom, one-bath unit over a two-bedroom, one-bath unit. Additionally, the home includes a full basement with a full bathroom and a private entrance. The property is located within minutes of the B35 bus, the 2 and 5 trains, various shops and supermarkets, Kings County Hospital, and Downstate Hospital.
Key Highlights
- Two‑family limestone home, ideal for owner occupancy with rental income or investment.
- Convenient access to transportation: B35 bus, 2 & 5 trains.
- Three‑bedroom/one‑bath unit over a two‑bedroom/one‑bath unit.**
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
$78,028
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
7.43%
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%
$1,560,560
$1.6M
Cap Rate 7%
$1,114,686
$1.1M
Cap Rate 9%
$866,978
$867.0K
Market Conditions
NOI Build-Up for 2,228 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
$113.6K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$111.5K $50.03/SF
− OpEx
−$33.4K −$15.01/SF
NOI
$78.0K $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%
$1,560,560
Cap Rate 7%
$1,114,686
Cap Rate 9%
$866,978
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$975.4K – $1.30M
NOI $78,028 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$971.7K
$850.2K – $1.13M
NOI $68,019 @ 7.0% cap · market cap 6.48%
Theoretical Best
Specialty Retail
$1.84M
$1.61M – $2.15M
NOI $129,135 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,390
Businesses Nearby
Explore this area
Business Placement
Demographics for 11203, NY
81,824
Population
33,434
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
38,964
Density / Sq Mi
$68,028
Median Household Income
$47,302
Median Earnings
$1,566
Median Rent
$677,700
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 limestone home in East Flatbush, close to transportation.
Where is this duplex located?
The property is located at 902 Brooklyn Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Two‑family limestone home, ideal for owner occupancy with rental income or investment.; Convenient access to transportation: B35 bus, 2 & 5 trains.; Three‑bedroom/one‑bath unit over a two‑bedroom/one‑bath unit.**
