Spacious Brooklyn Multifamily
For Sale
$1,850,000
2502 84th St, Brooklyn, NY 11214
Two-family home with development potential near transportation and amenities.
Property Size2,355 SF
Lot Size0.23 Acres
Days on Market121
Property Features for 2502 84th St
General Information
Standard status
Active
Size
2,355 SF
Lot size
0.23 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$11,824
Building Details
Building Size
2,355 SF
Year Built
1905
Stories
2
Listing Agency:
RE/MAX Real Estate Professiona
(718) 532-2000
Listed By:
Siu Kit Wong · License #SW6470
(718) 532-2000
Source:
Elliman
Added: Apr 28
Changed: Aug 12
Last Checked: Aug 25 at 7:54AM
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 RE/MAX Real Estate Professiona
Investment Insights
Based on property information with market context.
This unique property features double lots totaling approximately 10,000 square feet, zoned R5, and benefits from an extra-wide street. Situated with frontage on both 25th Avenue and Stillwell Avenue, the location provides ample sunlight and expansive views. The detached two-family home spans four levels and includes a private driveway and a detached two-car garage, offering parking for 4+ vehicles. The property boasts a beautiful front yard and side yard, with broad views of the surrounding area and maximized sunlight throughout the day. The building contains 8 bedrooms and 3 baths, and all apartments are in move-in condition. There are 2 heating zones, and the roof is approximately 10 years old. The property is located a short distance from the D Train station on 86th Street, with supermarkets, restaurants, bakeries, and schools nearby. The location has a walk score of 95, a transit score of 91, and a bike score of 65.
Key Highlights
- Double lots totaling approximately 10,000 sq ft with R5 zoning, suitable for development or end‑users.
- Detached 2‑family home with 8 bedrooms and 3 baths, all in move‑in condition.
- Excellent location with a Walk Score of 95 and Transit Score of 91**, close to the D Train, supermarkets, restaurants, and schools.
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
$64,232
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
3.47%
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%
$1,284,640
$1.3M
Cap Rate 7%
$917,600
$917.6K
Cap Rate 9%
$713,689
$713.7K
Market Conditions
NOI Build-Up for 2,355 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
$96.1K $40.80/SF
− Vacancy
−$4.3K −$1.84/SF
EGI
$91.8K $38.96/SF
− OpEx
−$27.5K −$11.69/SF
NOI
$64.2K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /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%
$1,284,640
Cap Rate 7%
$917,600
Cap Rate 9%
$713,689
Alternative Uses
Best Use
Multifamily LT 5
$917.6K
$802.9K – $1.07M
NOI $64,232 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$822.4K
$719.6K – $959.5K
NOI $57,567 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $96,165 @ 7.0% cap · market cap 5.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,578
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-family home with development potential near transportation and amenities.
Where is this duplex located?
The property is located at 2502 84th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Double lots totaling approximately 10,000 sq ft with R5 zoning, suitable for development or end‑users.; Detached 2‑family home with 8 bedrooms and 3 baths, all in move‑in condition.; Excellent location with a Walk Score of 95 and Transit Score of 91**, close to the D Train, supermarkets, restaurants, and schools.
