Two-Family Residential Income
For Sale
$1,899,000
1120 82nd St, Brooklyn, NY 11228
Two-bedroom upper and lower units offer flexible living with basement access and a private yard.
Property Size2,316 SF
Days on Market52
Property Features for 1120 82nd St
General Information
Standard status
Active
Size
2,316 SF
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,365
Building Details
Building Size
2,316 SF
Year Built
1925
Stories
3
Listing Agency:
Revolution Real Estate
(718) 524-7999
Listed By:
Andrew Scattaglia · License #10401347264
(718) 524-7999
Source:
Elliman
Added: Jul 5
Changed: Aug 13
Last Checked: Aug 24 at 9:34AM
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 Revolution Real Estate
Investment Insights
Based on property information with market context.
This two-family home is currently configured as a single-family residence but includes two units, each with two bedrooms. The upper unit has one full bathroom and exclusive access to a full attic, which can support additional storage or flexible use. The lower unit includes two three-quarter bathrooms and offers direct access to a full finished basement that adds indoor living and recreational space.
Outside, the property features a spacious backyard with an above-ground pool. A built-in garage and a private side driveway provide off-street parking for multiple vehicles. The home is being sold as-is and would benefit from TLC.
For buyers seeking a flexible owner-occupant setup or a straightforward way to reintroduce a two-family layout, the property’s separate unit design and interior storage options are practical starting points. The finished basement access and multiple bathroom configurations can support a range of household needs, while the outdoor space and parking help accommodate everyday living. Convenient access to shopping, restaurants, parks, schools, and public transportation supports a tenant-ready lifestyle once updated to the buyer’s preferences.
Outside, the property features a spacious backyard with an above-ground pool. A built-in garage and a private side driveway provide off-street parking for multiple vehicles. The home is being sold as-is and would benefit from TLC.
For buyers seeking a flexible owner-occupant setup or a straightforward way to reintroduce a two-family layout, the property’s separate unit design and interior storage options are practical starting points. The finished basement access and multiple bathroom configurations can support a range of household needs, while the outdoor space and parking help accommodate everyday living. Convenient access to shopping, restaurants, parks, schools, and public transportation supports a tenant-ready lifestyle once updated to the buyer’s preferences.
Key Highlights
- Two‑family home built in 1925 in Dyker Heights, currently used as a single‑family residence
- Both upper and lower units feature 2 bedrooms
- Upper unit includes 1 full bathroom and exclusive access to a full attic for storage
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
$81,110
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
4.27%
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%
$1,622,200
$1.6M
Cap Rate 7%
$1,158,714
$1.2M
Cap Rate 9%
$901,222
$901.2K
Market Conditions
NOI Build-Up for 2,316 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
$118.1K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$115.9K $50.03/SF
− OpEx
−$34.8K −$15.01/SF
NOI
$81.1K $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%
$1,622,200
Cap Rate 7%
$1,158,714
Cap Rate 9%
$901,222
Alternative Uses
Best Use
Multifamily LT 5
$1.16M
$1.01M – $1.35M
NOI $81,110 @ 7.0% cap · market cap 4.27%
Second Best
Apartment 5plus
$1.01M
$883.8K – $1.18M
NOI $70,705 @ 7.0% cap · market cap 3.72%
Theoretical Best
Specialty Retail
$1.92M
$1.68M – $2.24M
NOI $134,235 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,705
Businesses Nearby
Explore this area
Business Placement
Demographics for 11228, NY
45,906
Population
16,336
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
30,604
Density / Sq Mi
$80,737
Median Household Income
$47,062
Median Earnings
$1,828
Median Rent
$1,131,700
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-bedroom upper and lower units offer flexible living with basement access and a private yard.
Where is this duplex located?
The property is located at 1120 82nd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: Two‑family home built in 1925 in Dyker Heights, currently used as a single‑family residence; Both upper and lower units feature 2 bedrooms; Upper unit includes 1 full bathroom and exclusive access to a full attic for storage
