Reimagined Bushwick Two-Family
For Sale
$1,830,000
Pending
1279 JEFFERSON Ave, Brooklyn, NY 11221
Renovated two-family townhouse with garden and income-producing rental.
Property Size3,620 SF
Days on Market135
Property Features for 1279 JEFFERSON Ave
General Information
Standard status
Pending
Size
3,620 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$6,924
Building Details
Building Size
3,620 SF
Year Built
1905
Units
2
Listing Agency:
(917) 397-4014
Listed By:
Jacob Henderson · License #10401234914 (NY)
(917) 397-4014
Source:
Elliman
Added: Apr 3
Changed: Aug 13
Last Checked: Aug 14 at 8:46AM
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 Jacob Henderson
Investment Insights
Based on property information with market context.
This two-family townhouse, located in the heart of Bushwick on a quiet, tree-lined street, offers a blend of modern comfort and Brooklyn character. Rebuilt in 2015, the 19-foot-wide residence features an owner's duplex and a rental unit. The owner's duplex, spanning the parlor and second floors, includes 3 bedrooms and 2.5 bathrooms. The parlor level is designed as an entertaining space with exposed brick, bay windows, and sliding glass doors. The open-concept living and dining area connects to a kitchen with shaker-style cabinetry, stainless steel appliances, and an island with storage. A built-in bar offers additional cabinetry and serving space. A rear deck overlooks a landscaped garden with brick pavers and plantings. Upstairs, the primary suite accommodates a king-sized bed and includes an en suite bath with an oversized shower and subway tile. Two additional bedrooms share a full hallway bath with tub. The garden-level 2-bedroom residence has modern interiors and yard access, suitable for rental income or a work-from-home space. A finished basement provides storage and utility access. The property is positioned near the Wilson L, Myrtle Wyckoff M, and Halsey J trains, as well as bus lines B60 and B26. The property has a bike score of 70, walk score of 82, and transit score of 84.
Key Highlights
- Income‑producing 2‑bedroom rental unit on the garden level.
- Gracious owner's duplex featuring 3 bedrooms, 2.5 bathrooms, and a private garden.
- Gut‑renovated in 2015, blending modern comfort with Brooklyn character.
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
$126,779
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
6.93%
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%
$2,535,580
$2.5M
Cap Rate 7%
$1,811,129
$1.8M
Cap Rate 9%
$1,408,656
$1.4M
Market Conditions
NOI Build-Up for 3,620 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
$184.6K $51.00/SF
− Vacancy
−$3.5K −$0.97/SF
EGI
$181.1K $50.03/SF
− OpEx
−$54.3K −$15.01/SF
NOI
$126.8K $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%
$2,535,580
Cap Rate 7%
$1,811,129
Cap Rate 9%
$1,408,656
Alternative Uses
Best Use
Multifamily LT 5
$1.81M
$1.58M – $2.11M
NOI $126,779 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$1.58M
$1.38M – $1.84M
NOI $110,515 @ 7.0% cap · market cap 6.04%
Theoretical Best
Specialty Retail
$3.00M
$2.62M – $3.50M
NOI $209,815 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,459
Businesses Nearby
Explore this area
Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
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 - Renovated two-family townhouse with garden and income-producing rental.
Where is this duplex located?
The property is located at 1279 JEFFERSON Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,830,000.
What are key features of this property?
This property features: Income‑producing 2‑bedroom rental unit on the garden level.; Gracious owner's duplex featuring 3 bedrooms, 2.5 bathrooms, and a private garden.; Gut‑renovated in 2015, blending modern comfort with Brooklyn character.
