Gravesend Two-Family Brick
For Sale
$1,400,000
Pending
1902 W 11th St, Brooklyn, NY 11223
Two-family brick house in Gravesend with outdoor space.
Property Size1,952 SF
Lot Size0.05 Acres
Days on Market169
Property Features for 1902 W 11th St
General Information
Standard status
Pending
Size
1,952 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$9,598
Building Details
Building Size
1,952 SF
Year Built
1960
Stories
2
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Ken Zheng
(917) 708-9966
Source:
Elliman
Added: Mar 12
Changed: Aug 13
Last Checked: Aug 26 at 8:30AM
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 Tiger Realty
Investment Insights
Based on property information with market context.
Located in the Gravesend neighborhood, this two-family brick house is a corner property featuring a duplex over a walk-in unit. The upper level of the duplex includes 3 bedrooms and 1 full bathroom. The lower level features an open kitchen and dining room, a living room, and a half-bathroom. The lower unit, with a separate entrance, offers 2 bedrooms, 1 full bathroom, a kitchen, and a living room area. Each unit has separate gas and electric meters. Outdoor amenities include a front porch, back terrace, and a large backyard. A private driveway with an attached garage provides parking for up to 2 cars. The property is located minutes away from Kings Highway and the 86th St business district, offering shopping, restaurants, and entertainment. Nearby transit options include the B4 and B82 buses, as well as the D and N trains.
Key Highlights
- Two‑family brick house in desirable Gravesend neighborhood offers income potential or multi‑generational living.
- Corner property with duplex over walk‑in unit provides flexible living arrangements.
- Outdoor space includes a front porch, back terrace, and large backyard for recreation and relaxation.
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
$68,362
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
4.88%
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%
$1,367,240
$1.4M
Cap Rate 7%
$976,600
$976.6K
Cap Rate 9%
$759,578
$759.6K
Market Conditions
NOI Build-Up for 1,952 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
$99.6K $51.00/SF
− Vacancy
−$1.9K −$0.97/SF
EGI
$97.7K $50.03/SF
− OpEx
−$29.3K −$15.01/SF
NOI
$68.4K $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%
$1,367,240
Cap Rate 7%
$976,600
Cap Rate 9%
$759,578
Alternative Uses
Best Use
Multifamily LT 5
$976.6K
$854.5K – $1.14M
NOI $68,362 @ 7.0% cap · market cap 4.88%
Second Best
Apartment 5plus
$851.3K
$744.9K – $993.2K
NOI $59,593 @ 7.0% cap · market cap 4.26%
Theoretical Best
Specialty Retail
$1.62M
$1.41M – $1.89M
NOI $113,138 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,734
Businesses Nearby
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
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 brick house in Gravesend with outdoor space.
Where is this duplex located?
The property is located at 1902 W 11th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Two‑family brick house in desirable Gravesend neighborhood offers income potential or multi‑generational living.; Corner property with duplex over walk‑in unit provides flexible living arrangements.; Outdoor space includes a front porch, back terrace, and large backyard for recreation and relaxation.
