Gravesend Two-Dwelling Brick
For Sale
$995,000
Pending
9 Corso Court, Brooklyn, NY 11223
Two-unit attached brick property near Avenue U in Gravesend.
Property Size1,938 SF
Lot Size0.03 Acres
Days on Market544
Property Features for 9 Corso Court
General Information
Standard status
Pending
Size
1,938 SF
Lot size
0.03 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$6,281
Building Details
Year Built
1925
Listing Agency:
Winzone Realty Inc
Listed By:
Xue Huan (Lily) Zhu
(718) 676-6611
Source:
Exitrealty
Added: Mar 14, 2025
Changed: Sep 5
Last Checked: Sep 8 at 5:06AM
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 Winzone Realty Inc
Investment Insights
Based on property information with market context.
This is a two-dwelling, attached, all brick property located near Avenue U in Gravesend. The ground floor and first floor combine to form a duplex featuring 3 bedrooms, 1.5 bathrooms, a living/dining room, a kitchen, and a laundry room. A separate entrance leads to the third-floor unit, which includes 2 bedrooms, 1 bathroom, an eat-in kitchen, and a living room. The property offers two parking spots, one at the front and one at the back. It is conveniently located near public transportation and various establishments. The building measures 19.5 feet by 34 feet and is situated on a lot measuring 19.5 feet by 60.5 feet.
Key Highlights
- Two‑dwelling property: Duplex (3 bed, 1.5 bath) + Separate 2 bed, 1 bath unit.
- Two parking spots (front and back).
- All brick construction.
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
$67,872
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
6.82%
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%
$1,357,440
$1.4M
Cap Rate 7%
$969,600
$969.6K
Cap Rate 9%
$754,133
$754.1K
Market Conditions
NOI Build-Up for 1,938 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
$98.8K $51.00/SF
− Vacancy
−$1.9K −$0.97/SF
EGI
$97.0K $50.03/SF
− OpEx
−$29.1K −$15.01/SF
NOI
$67.9K $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%
$1,357,440
Cap Rate 7%
$969,600
Cap Rate 9%
$754,133
Alternative Uses
Best Use
Multifamily LT 5
$969.6K
$848.4K – $1.13M
NOI $67,872 @ 7.0% cap · market cap 6.82%
Second Best
Apartment 5plus
$845.2K
$739.6K – $986.1K
NOI $59,165 @ 7.0% cap · market cap 5.95%
Theoretical Best
Specialty Retail
$1.60M
$1.40M – $1.87M
NOI $112,326 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,655
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-unit attached brick property near Avenue U in Gravesend.
Where is this duplex located?
The property is located at 9 Corso Court Brooklyn, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Two‑dwelling property: **Duplex (3 bed, 1.5 bath) + Separate 2 bed, 1 bath unit.**; Two parking spots (front and back).; All brick construction.
