Updated Two-Family Home in
For Sale
$1,098,000
Pending
414 Chestnut St, Brooklyn, NY 11208
Renovated two-family home with modern finishes and private backyard.
Property Size2,708 SF
Lot Size0.05 Acres
Days on Market187
Property Features for 414 Chestnut St
General Information
Standard status
Pending
Size
2,708 SF
Lot size
0.05 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$7,039
Building Details
Building Size
2,708 SF
Year Built
1899
Units
2
Listed By:
Dimitrios Koufakos
(917) 502-1772
Source:
Elliman
Added: Mar 10
Changed: Aug 16
Last Checked: Sep 11 at 7:37AM
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 Dimitrios Koufakos
Investment Insights
Based on property information with market context.
Located in Brooklyn, 414 Chestnut Street is a renovated two-family home featuring modern finishes throughout. Both apartments include updated kitchens, stylish living areas, and hardwood floors. The property includes a spacious private backyard suitable for gardening, entertaining, or relaxing. Each unit has a new boiler system. Off-street parking is available. The property is move-in ready and offers flexibility for owner-users or investors seeking cash flow. Transportation options include proximity to the J/Z trains at Crescent St, the A/C lines, and major highways such as Atlantic Ave, Jackie Robinson Parkway, BQE, and Van Wyck Expressway.
Key Highlights
- Fully renovated two‑family home, move‑in ready.
- Two updated apartments with modern finishes, including updated kitchens and hardwood floors.
- Spacious private backyard.**
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
$69,515
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
6.33%
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%
$1,390,300
$1.4M
Cap Rate 7%
$993,071
$993.1K
Cap Rate 9%
$772,389
$772.4K
Market Conditions
NOI Build-Up for 2,708 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
$104.0K $38.40/SF
− Vacancy
−$4.7K −$1.73/SF
EGI
$99.3K $36.67/SF
− OpEx
−$29.8K −$11.00/SF
NOI
$69.5K $25.67/SF
Area
ZIP 11208
Vacancy
4.50%
Lease Rate
$38.40 /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%
$1,390,300
Cap Rate 7%
$993,071
Cap Rate 9%
$772,389
Alternative Uses
Best Use
Multifamily LT 5
$993.1K
$868.9K – $1.16M
NOI $69,515 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$884.2K
$773.7K – $1.03M
NOI $61,897 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $115,987 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,960
Businesses Nearby
Explore this area
Business Placement
Demographics for 11208, NY
101,958
Population
37,261
Households
2.7
Avg Household Size
35
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
37,762
Density / Sq Mi
$59,988
Median Household Income
$40,156
Median Earnings
$1,563
Median Rent
$638,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Renovated two-family home with modern finishes and private backyard.
Where is this duplex located?
The property is located at 414 Chestnut St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,098,000.
What are key features of this property?
This property features: Fully renovated two‑family home, move‑in ready.; Two updated apartments with modern finishes, including **updated kitchens and hardwood floors.**; Spacious private backyard.**
