Brooklyn Two-Family Home with
For Sale
$848,000
1211 East 48th Street, Brooklyn, NY 11234
Well-maintained two-family home with private driveway and two-car garage.
Property Size1,840 SF
Lot Size0.06 Acres
Days on Market122
Property Features for 1211 East 48th Street
General Information
Standard status
Active
Size
1,840 SF
Lot size
0.06 Acres
Property subtype
Multi Family Home
Zoning
R4
Building Details
Building Size
1,840 SF
Year Built
1940
Listing Agency:
Re/Max Edge
Listed By:
Yu-Fen (Madeline) Chiu
(718) 612-3088
Source:
Excellchoicerealty
Added: May 11
Changed: Sep 8
Last Checked: Sep 8 at 7:01AM
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 Edge
Investment Insights
Based on property information with market context.
This detached two-family home in Brooklyn is located near Kings Highway and East 48th Street, situated on a quiet, tree-lined residential block. The main level features a bright enclosed front sunroom suitable for a home office or sitting area. The formal living room and dining room include original plaster accents, high ceilings, hardwood flooring, and solid wood wainscoting. The kitchen offers ample cabinet storage and natural light, with direct access to the backyard and outdoor terrace. A half bathroom and laundry room are also located on the first floor. The second floor offers three bedrooms, each with ample closet space, and a full bathroom with a bathtub and standing shower. The home is in excellent move-in condition. The walk-in level features separate front and rear entrances and offers flexible living areas that can be used as a family room, recreation area, gym, guest suite, or home office. This level also includes storage areas, a laundry room, a boiler room, and an updated full bathroom. Situated on a 25x100 lot, the property also features a private driveway, two-car garage, and backyard. The location provides a suburban-style residential atmosphere with city convenience, close to shopping, restaurants, schools, parks, temples, and everyday amenities. Transportation is convenient with the B41, B46, and BM1 express bus to Manhattan.
Key Highlights
- Detached two‑family home with private driveway and two‑car garage.
- Walk‑in level with separate entrances offering flexible living space.
- Excellent transit score (79) and very walkable score (80) with convenient transportation.
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
$64,440
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
7.60%
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%
$1,288,800
$1.3M
Cap Rate 7%
$920,571
$920.6K
Cap Rate 9%
$716,000
$716.0K
Market Conditions
NOI Build-Up for 1,840 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
$93.8K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$92.1K $50.03/SF
− OpEx
−$27.6K −$15.01/SF
NOI
$64.4K $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%
$1,288,800
Cap Rate 7%
$920,571
Cap Rate 9%
$716,000
Alternative Uses
Best Use
Multifamily LT 5
$920.6K
$805.5K – $1.07M
NOI $64,440 @ 7.0% cap · market cap 7.60%
Second Best
Apartment 5plus
$802.5K
$702.2K – $936.2K
NOI $56,173 @ 7.0% cap · market cap 6.62%
Theoretical Best
Specialty Retail
$1.52M
$1.33M – $1.78M
NOI $106,646 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,518
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
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 - Well-maintained two-family home with private driveway and two-car garage.
Where is this duplex located?
The property is located at 1211 East 48th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $848,000.
What are key features of this property?
This property features: Detached two‑family home with **private driveway and two‑car garage**.; Walk‑in level with separate entrances offering flexible living space.; Excellent transit score (79) and very walkable score (80) with convenient transportation.
