Renovated Two-Family
For Sale
$1,400,000
1280 PUTNAM Avenue, Brooklyn, NY 11221
Two residences offer private outdoor areas, flexible rooms, and basement access for additional storage.
Property Size1,839 SF
Price / SF$761.28
Days on Market104
Property Features for 1280 PUTNAM Avenue
General Information
Standard status
Active
Size
1,839 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR+office/2.5BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,960
Amenities
private terrace
backyard
basement
skylight
Building Details
Building Size
1,839 SF
Year Built
1910
Year Renovated
2021
Buildings
1
Listing Agency:
Brown Harris Stevens Brooklyn LLC
Listed By:
Kiyoko Fuchimoto
(718) 613-2037
Source:
Carlinwright
Added: May 26
Changed: Sep 5
Last Checked: Sep 5 at 7:16AM
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 Brown Harris Stevens Brooklyn LLC
Investment Insights
Based on property information with market context.
Renovated in 2021, this 1,839-square-foot two-family townhouse was built in 1910 and includes distinct upper and lower residences. The upper duplex provides two bedrooms, an office, 2.5 bathrooms, a kitchen, private terrace, and backyard. Its layout also includes a skylit additional room and a primary suite with an en-suite bathroom. The lower apartment contains two bedrooms, one full bathroom, a spacious kitchen with a large island, and access to the basement.
The property is located on Putnam Avenue in Brooklyn’s Bushwick neighborhood. The surrounding area includes dining, cafés, and bars, with Alex's Luncheonette, Fazio's, They Say, Double, and Bar Cornelia identified nearby in the property information. The residence combines original architectural details with updated finishes and includes outdoor space divided into two backyard sections.
The property is located on Putnam Avenue in Brooklyn’s Bushwick neighborhood. The surrounding area includes dining, cafés, and bars, with Alex's Luncheonette, Fazio's, They Say, Double, and Bar Cornelia identified nearby in the property information. The residence combines original architectural details with updated finishes and includes outdoor space divided into two backyard sections.
Key Highlights
- 1,839‑square‑foot two‑family townhouse renovated in 2021
- Upper duplex with 2 bedrooms, office, and 2.5 bathrooms
- Lower unit includes 2 bedrooms, 1 full bathroom, and basement access
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
$64,405
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
4.60%
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%
$1,288,100
$1.3M
Cap Rate 7%
$920,071
$920.1K
Cap Rate 9%
$715,611
$715.6K
Market Conditions
NOI Build-Up for 1,839 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
$93.8K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$92.0K $50.03/SF
− OpEx
−$27.6K −$15.01/SF
NOI
$64.4K $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%
$1,288,100
Cap Rate 7%
$920,071
Cap Rate 9%
$715,611
Alternative Uses
Best Use
Multifamily LT 5
$920.1K
$805.1K – $1.07M
NOI $64,405 @ 7.0% cap · market cap 4.60%
Second Best
Apartment 5plus
$802.0K
$701.8K – $935.7K
NOI $56,143 @ 7.0% cap · market cap 4.01%
Theoretical Best
Specialty Retail
$1.52M
$1.33M – $1.78M
NOI $106,588 @ 7.0% cap · market cap 7.61%
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
4,740
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 - Two residences offer private outdoor areas, flexible rooms, and basement access for additional storage.
Where is this duplex located?
The property is located at 1280 PUTNAM Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 1,839‑square‑foot two‑family townhouse renovated in 2021; Upper duplex with 2 bedrooms, office, and 2.5 bathrooms; Lower unit includes 2 bedrooms, 1 full bathroom, and basement access
