Detached Two-Family Home with
For Sale
$1,169,000
Pending
941 E 15th St, Brooklyn, NY 11230
Detached two-family property currently arranged as a spacious single-family residence with a private patio and private driveway.
Property Size1,332 SF
Days on Market35
Property Features for 941 E 15th St
General Information
Standard status
Pending
Size
1,332 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,960
Amenities
split-unit A/C systems
granite countertops
stainless steel appliances
private patio
fully finished basement
separate entrance
private driveway
laundry area
Building Details
Building Size
1,332 SF
Year Built
1899
Stories
2
Listing Agency:
Real Broker LLC
(718) 256-4000
Listed By:
Ichok Landau
(718) 256-4000
Source:
Elliman
Added: Jul 22
Changed: Aug 22
Last Checked: Aug 24 at 9:10AM
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 Real Broker LLC
Investment Insights
Based on property information with market context.
Detached two-family home is currently configured as a spacious single-family residence. The main level features a bright, windowed living and dining area that flows into a modern kitchen with granite countertops, stainless steel appliances, dual sinks, and a dedicated dinette, plus a powder room. Most rooms include split-unit A/C. Outside, a private patio provides space for outdoor dining and entertaining.
A fully finished basement includes a separate entrance, a large family room, a full bath, and a laundry area. The home also offers a private driveway. Located in Midwood, Brooklyn at 941 E 15th St, it is described as minutes from transportation and shopping, with walk/transit scores provided in the public remarks (WalkScore 79, TransitScore 90, BikeScore 80).
A fully finished basement includes a separate entrance, a large family room, a full bath, and a laundry area. The home also offers a private driveway. Located in Midwood, Brooklyn at 941 E 15th St, it is described as minutes from transportation and shopping, with walk/transit scores provided in the public remarks (WalkScore 79, TransitScore 90, BikeScore 80).
Key Highlights
- Detached two‑family home (arranged as a single‑family) built in 1899
- 5 bedrooms and 3.5 bathrooms
- Split‑unit A/C systems in most rooms
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
$46,649
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
3.99%
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%
$932,980
$933.0K
Cap Rate 7%
$666,414
$666.4K
Cap Rate 9%
$518,322
$518.3K
Market Conditions
NOI Build-Up for 1,332 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
$67.9K $51.00/SF
− Vacancy
−$1.3K −$0.97/SF
EGI
$66.6K $50.03/SF
− OpEx
−$20.0K −$15.01/SF
NOI
$46.6K $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%
$932,980
Cap Rate 7%
$666,414
Cap Rate 9%
$518,322
Alternative Uses
Best Use
Multifamily LT 5
$666.4K
$583.1K – $777.5K
NOI $46,649 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$580.9K
$508.3K – $677.8K
NOI $40,665 @ 7.0% cap · market cap 3.48%
Theoretical Best
Specialty Retail
$1.10M
$965.0K – $1.29M
NOI $77,203 @ 7.0% cap · market cap 6.60%
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
3,701
Businesses Nearby
Explore this area
Business Placement
Demographics for 11230, NY
91,391
Population
34,269
Households
2.7
Avg Household Size
35
Median Age
44%
College-Educated
82%
High-School Grad
1.8 sq mi
ZIP Area
50,773
Density / Sq Mi
$69,522
Median Household Income
$43,135
Median Earnings
$1,734
Median Rent
$863,400
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 - Detached two-family property currently arranged as a spacious single-family residence with a private patio and private driveway.
Where is this duplex located?
The property is located at 941 E 15th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,169,000.
What are key features of this property?
This property features: Detached two‑family home (arranged as a single‑family) built in 1899; 5 bedrooms and 3.5 bathrooms; Split‑unit A/C systems in most rooms
