Two-Family Home with Private
For Sale
$2,350,000
Pending
8656A 20th Ave, Brooklyn, NY 11214
Semi-detached three-story two-family residence with separate living spaces, private driveway, and built-in garage.
Property Size3,206 SF
Days on Market86
Property Features for 8656A 20th Ave
General Information
Standard status
Pending
Size
3,206 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$13,075
Building Details
Building Size
3,206 SF
Year Built
1970
Stories
2
Tenancy
Multi
Listing Agency:
RE/MAX Real Estate Professionals
(917) 708-9966
Listed By:
Hang (Tyler) Chen · License #HC3855
(917) 708-9966
Source:
Elliman
Added: Jun 3
Changed: Aug 8
Last Checked: Aug 26 at 10:43AM
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 Professionals
Investment Insights
Based on property information with market context.
This well-maintained, semi-detached two-family home is arranged over three stories, offering separate living spaces with a flexible layout. The property includes a private driveway and a built-in garage, supporting convenient everyday access and off-street parking options for residents. Overall, the configuration is suited to households seeking independent living arrangements within a single building.
Located in Brooklyn, the home is positioned near shopping, schools, parks, and public transportation. WalkScore is listed at 96, indicating a highly walkable setting, with transitScore of 84 supporting frequent transit options nearby. BikeScore is listed at 56, providing moderate bike-friendliness for local trips.
For owner-occupants, the separate two-unit setup can accommodate multi-generational living or a live-in arrangement. For buyers evaluating residential income use, the property’s two-family design and independent living spaces can support straightforward tenant separation under one roof. The overall condition and on-site parking features provide practical day-to-day value for either use case.
Located in Brooklyn, the home is positioned near shopping, schools, parks, and public transportation. WalkScore is listed at 96, indicating a highly walkable setting, with transitScore of 84 supporting frequent transit options nearby. BikeScore is listed at 56, providing moderate bike-friendliness for local trips.
For owner-occupants, the separate two-unit setup can accommodate multi-generational living or a live-in arrangement. For buyers evaluating residential income use, the property’s two-family design and independent living spaces can support straightforward tenant separation under one roof. The overall condition and on-site parking features provide practical day-to-day value for either use case.
Key Highlights
- 1970‑built semi‑detached three‑story two‑family home with separate living spaces
- Separate living spaces for flexible use as an end‑user or investment property
- Private driveway and built‑in garage
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
$87,443
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
3.72%
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%
$1,748,860
$1.7M
Cap Rate 7%
$1,249,186
$1.2M
Cap Rate 9%
$971,589
$971.6K
Market Conditions
NOI Build-Up for 3,206 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
$130.8K $40.80/SF
− Vacancy
−$5.9K −$1.84/SF
EGI
$124.9K $38.96/SF
− OpEx
−$37.5K −$11.69/SF
NOI
$87.4K $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%
$1,748,860
Cap Rate 7%
$1,249,186
Cap Rate 9%
$971,589
Alternative Uses
Best Use
Multifamily LT 5
$1.25M
$1.09M – $1.46M
NOI $87,443 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$1.12M
$979.6K – $1.31M
NOI $78,369 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$1.87M
$1.64M – $2.18M
NOI $130,916 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,961
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
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Frequently Asked Questions
What type of property is this?
Duplex - Semi-detached three-story two-family residence with separate living spaces, private driveway, and built-in garage.
Where is this duplex located?
The property is located at 8656A 20th Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: 1970‑built semi‑detached three‑story two‑family home with separate living spaces; Separate living spaces for flexible use as an end‑user or investment property; Private driveway and built‑in garage
