Ultra-Modern Two-Family
For Sale
$1,334,900
124 Thomas S Boyland Street, Brooklyn, NY 11233
Renovated two-family duplex in Brooklyn with multiple flexible layouts and modern chef-style kitchens.
Property Size3,164 SF
Price / SF$444.97
Days on Market178
Property Features for 124 Thomas S Boyland Street
General Information
Standard status
Active
Size
3,164 SF
Property subtype
Multi Family Home
Zoning
R6
Additional Details
Multifamily Units
2
Building Details
Building Size
3,164 SF
Year Built
1909
Listing Agency:
Exit All Seasons Realty
Listed By:
Jaroslaw Kaszuba
(718) 345-4545
Source:
Michaelfraulo
Added: Mar 16
Changed: Sep 8
Last Checked: Sep 8 at 8:33AM
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 Exit All Seasons Realty
Investment Insights
Based on property information with market context.
This ultra-modern, renovated two-family duplex offers over 3,000 square feet of building area with spacious, flexible living options. The second-floor unit features two bedrooms and two bathrooms. The first-floor unit includes an oversized two-bedroom layout with a full bathroom. Throughout the property, you’ll find an abundance of natural light, chef’s kitchens with stainless steel appliances, and modern finishes.
Located in Stuyvesant Heights in Brooklyn, the home also benefits from strong walk, bike, and transit accessibility, with walkScore of 88 and transitScore of 98.
Ideal for owner-occupants or investors looking for a two-unit configuration with two- and three-bathroom variations across the floor plans, while maintaining a consistent modern renovation throughout.
Located in Stuyvesant Heights in Brooklyn, the home also benefits from strong walk, bike, and transit accessibility, with walkScore of 88 and transitScore of 98.
Ideal for owner-occupants or investors looking for a two-unit configuration with two- and three-bathroom variations across the floor plans, while maintaining a consistent modern renovation throughout.
Key Highlights
- 1909‑built renovated two‑family duplex in Brooklyn with over 3,000 sq ft of building area
- Flexible layout: first‑floor unit includes an oversized 2‑bedroom with a full bathroom
- Second floor features 2 bedrooms and 2 bathrooms
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
$105,065
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
7.87%
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%
$2,101,300
$2.1M
Cap Rate 7%
$1,500,929
$1.5M
Cap Rate 9%
$1,167,389
$1.2M
Market Conditions
NOI Build-Up for 3,000 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
$153.0K $51.00/SF
− Vacancy
−$2.9K −$0.97/SF
EGI
$150.1K $50.03/SF
− OpEx
−$45.0K −$15.01/SF
NOI
$105.1K $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%
$2,101,300
Cap Rate 7%
$1,500,929
Cap Rate 9%
$1,167,389
Alternative Uses
Best Use
Multifamily LT 5
$1.50M
$1.31M – $1.75M
NOI $105,065 @ 7.0% cap · market cap 7.87%
Second Best
Apartment 5plus
$1.31M
$1.14M – $1.53M
NOI $91,587 @ 7.0% cap · market cap 6.86%
Theoretical Best
Specialty Retail
$2.48M
$2.17M – $2.90M
NOI $173,880 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,236
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
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 - Renovated two-family duplex in Brooklyn with multiple flexible layouts and modern chef-style kitchens.
Where is this duplex located?
The property is located at 124 Thomas S Boyland Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,334,900.
What are key features of this property?
This property features: 1909‑built renovated two‑family duplex in Brooklyn with over 3,000 sq ft of building area; Flexible layout: first‑floor unit includes an oversized 2‑bedroom with a full bathroom; Second floor features 2 bedrooms and 2 bathrooms
