Two-Unit Historic
New
For Sale
$999,000
1270 Prospect Place, Brooklyn, NY 11213
Three-level property with a full basement, front patio, and fenced rear yard.
Property Size1,626 SF
Price / SF$614.39
Days on Market7
Property Features for 1270 Prospect Place
General Information
Standard status
Active
Size
1,626 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,328
Amenities
front patio
private rear yard
Building Details
Building Size
1,626 SF
Year Built
1910
Stories
3
Construction
clapboard rowhouse
Listing Agency:
Bizzarro Agency LLC
(917) 979-2259
Listed By:
Matthew J Bizzarro
(917) 979-2259
Source:
Miradorrealestate
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 29 at 3:02PM
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 Bizzarro Agency LLC
Investment Insights
Based on property information with market context.
This two-unit clapboard rowhouse was built in 1910 and spans three levels, with a full basement and outdoor areas at both the front and rear. The main residence includes hardwood floors, a living room with a three-sided bay window, a windowed kitchen, full bath, bedroom, and bonus room. The upper unit offers its own kitchen, full bath, bay-windowed living room, bedroom, and additional room suitable for desk space. The basement provides an open central area, full bath, closet, utility room, and private walk-out access.
The property is within Brooklyn’s Crown Heights North Historic District on a tree-lined street across from St. John’s Park. The location is also near the Brooklyn Children’s Museum, Brooklyn Botanic Garden, independent shops, restaurants, and multiple MTA stations within a few blocks. A front patio and private fenced rear yard provide additional exterior space.
The property is within Brooklyn’s Crown Heights North Historic District on a tree-lined street across from St. John’s Park. The location is also near the Brooklyn Children’s Museum, Brooklyn Botanic Garden, independent shops, restaurants, and multiple MTA stations within a few blocks. A front patio and private fenced rear yard provide additional exterior space.
Key Highlights
- Two‑unit residential property arranged across three levels
- Built in 1910 within the Crown Heights North Historic District
- Full basement with open area, full bath, utility room, and private walk‑out
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
$56,945
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
5.70%
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%
$1,138,900
$1.1M
Cap Rate 7%
$813,500
$813.5K
Cap Rate 9%
$632,722
$632.7K
Market Conditions
NOI Build-Up for 1,626 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
$82.9K $51.00/SF
− Vacancy
−$1.6K −$0.97/SF
EGI
$81.4K $50.03/SF
− OpEx
−$24.4K −$15.01/SF
NOI
$56.9K $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%
$1,138,900
Cap Rate 7%
$813,500
Cap Rate 9%
$632,722
Alternative Uses
Best Use
Multifamily LT 5
$813.5K
$711.8K – $949.1K
NOI $56,945 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$709.1K
$620.5K – $827.3K
NOI $49,640 @ 7.0% cap · market cap 4.97%
Theoretical Best
Specialty Retail
$1.35M
$1.18M – $1.57M
NOI $94,243 @ 7.0% cap · market cap 9.43%
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
4,886
Businesses Nearby
Explore this area
Business Placement
Demographics for 11213, NY
67,217
Population
29,186
Households
2.3
Avg Household Size
34
Median Age
34%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
61,106
Density / Sq Mi
$62,040
Median Household Income
$43,736
Median Earnings
$1,607
Median Rent
$1,184,400
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 - Three-level property with a full basement, front patio, and fenced rear yard.
Where is this duplex located?
The property is located at 1270 Prospect Place Brooklyn, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Two‑unit residential property arranged across three levels; Built in 1910 within the Crown Heights North Historic District; Full basement with open area, full bath, utility room, and private walk‑out
