Two-Bedroom-Over One-Bedroom
For Sale
$795,000
1307 E 98th Street, Brooklyn, NY 11236
MULTI_FAMILY - Brooklyn, NY
Property Size1,320 SF
Lot Size0.05 Acres
Price / SF$602.27
Days on Market59
Property Features for 1307 E 98th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Interior features
A/C Unit
Subdivision
Canarsie
Standard status
Active
Size
1,320 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
4928
Amenities
private driveway
built-in garage
large backyard
hardwood floors
storage
Building Details
Year built
1955
Floors in Building
2
Flooring type
Hardwood, Ceramic
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Albert Taye · License #30TA0927395
(718) 612-3088
Added: Jun 15
Changed: Aug 11
Last Checked: Aug 12 at 8:06PM
MLS# 502310
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
1307 E 98th Street is a solid brick duplex built in 1955 and configured as a spacious two-bedroom unit over a one-bedroom unit. The interior includes A/C and well-kept finishes with hardwood and ceramic flooring. The property features a flat roof, multiple bathrooms, and built-in storage throughout.
The first-floor apartment is currently rented, providing immediate rental income. Outdoors, the home offers a large backyard, plus a private driveway and built-in garage for day-to-day convenience.
With a lot size of 0.0459 acres and 1,320 square feet of property size, this R4 zoned duplex is move-in ready and designed for comfort and functionality for either an end-user or an owner-operator seeking rental support.
The first-floor apartment is currently rented, providing immediate rental income. Outdoors, the home offers a large backyard, plus a private driveway and built-in garage for day-to-day convenience.
With a lot size of 0.0459 acres and 1,320 square feet of property size, this R4 zoned duplex is move-in ready and designed for comfort and functionality for either an end-user or an owner-operator seeking rental support.
Key Highlights
- 0.0459‑acre lot with 1,320 SF duplex in R4 zoning
- Brick construction built in 1955 with a flat roof
- Two‑bedroom unit over one‑bedroom unit layout
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
$46,229
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
5.81%
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%
$924,580
$924.6K
Cap Rate 7%
$660,414
$660.4K
Cap Rate 9%
$513,656
$513.7K
Market Conditions
NOI Build-Up for 1,320 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
$67.3K $51.00/SF
− Vacancy
−$1.3K −$0.97/SF
EGI
$66.0K $50.03/SF
− OpEx
−$19.8K −$15.01/SF
NOI
$46.2K $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%
$924,580
Cap Rate 7%
$660,414
Cap Rate 9%
$513,656
Alternative Uses
Best Use
Multifamily LT 5
$660.4K
$577.9K – $770.5K
NOI $46,229 @ 7.0% cap · market cap 5.81%
Second Best
Apartment 5plus
$575.7K
$503.7K – $671.6K
NOI $40,298 @ 7.0% cap · market cap 5.07%
Theoretical Best
Specialty Retail
$1.09M
$956.3K – $1.28M
NOI $76,507 @ 7.0% cap · market cap 9.62%
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
1,927
Businesses Nearby
Explore this area
Business Placement
Demographics for 11236, NY
100,687
Population
37,002
Households
2.7
Avg Household Size
40
Median Age
28%
College-Educated
88%
High-School Grad
3.6 sq mi
ZIP Area
27,969
Density / Sq Mi
$82,813
Median Household Income
$50,244
Median Earnings
$1,637
Median Rent
$710,300
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 - Brick duplex configured as a two-bedroom unit over a one-bedroom unit, with A/C, private driveway, built-in garage, and R4 zoning.
Where is this duplex located?
The property is located at 1307 E 98th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 0.0459‑acre lot with 1,320 SF duplex in R4 zoning; Brick construction built in 1955 with a flat roof; Two‑bedroom unit over one‑bedroom unit layout
