Renovated Two-Family Brick
For Sale
$599,000
Pending
1008 Flatlands Avenue, Brooklyn, NY 11236
Renovated two-family brick home with carport and garage.
Property Size1,760 SF
Days on Market660
Property Features for 1008 Flatlands Avenue
General Information
Standard status
Pending
Size
1,760 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$6,863
Building Details
Year Built
1955
Listing Agency:
Calabrese Real Estate
Listed By:
Mina Pecorella
(718) 439-1110
Source:
Exitrealty
Added: Jan 7, 2025
Changed: Oct 25
Last Checked: Oct 14 at 10:09PM
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 Calabrese Real Estate
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Investment Insights
Based on property information with market context.
This renovated two-family brick home includes a carport and garage. Please note that this is a drive-by only; do not disturb the tenants.
Key Highlights
- Two‑family brick construction, perfect for investors or homeowners.
- Includes both a carport and a garage offering ample parking.
- Renovated condition, move‑in ready!
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,731
Cap Rate
8.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,074,620
$1.1M
Cap Rate 7%
$767,586
$767.6K
Cap Rate 9%
$597,011
$597.0K
Market Conditions
NOI Build-Up for 1,760 SF
Gross rent
$99.7K $56.64/SF
− Vacancy
−$2.0K −$1.13/SF
EGI
$97.7K $55.51/SF
− OpEx
−$44.0K −$24.98/SF
NOI
$53.7K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,074,620
Cap Rate 7%
$767,586
Cap Rate 9%
$597,011
Alternative Uses
Best Use
Multifamily LT 5
$880.5K
$770.5K – $1.03M
NOI $61,638 @ 7.0% cap · market cap 10.29%
Second Best
Apartment 5plus
$767.6K
$671.6K – $895.5K
NOI $53,731 @ 7.0% cap · market cap 8.97%
Theoretical Best
Specialty Retail
$1.46M
$1.28M – $1.70M
NOI $102,010 @ 7.0% cap · market cap 17.03%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,066
Businesses Nearby
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Business Placement
Demographics for 11236, NY
100,687
Population
37,002
Households
2.7
Avg Household Size
40
Median Age
28%
College-Educated
88%
High-School Grad
3.6 sq mi
ZIP Area
27,969
Density / Sq Mi
$82,813
Median Household Income
$50,244
Median Earnings
$1,637
Median Rent
$710,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Renovated two-family brick home with carport and garage.
Where is this duplex located?
The property is located at 1008 Flatlands Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two‑family brick construction, perfect for investors or homeowners.; Includes both a carport and a garage offering ample parking.; Renovated condition, move‑in ready!
