Brick Duplex with Private
For Sale
$795,000
1307 East 98th Street, Brooklyn, NY 11236
Two-family brick duplex with hardwood floors, a large backyard, and a rented first-floor unit.
Property Size1,320 SF
Days on Market87
Property Features for 1307 East 98th Street
General Information
Standard status
Active
Size
1,320 SF
Property subtype
Multi Family Home
Zoning
R4
Additional Details
Multifamily Units
2
Building Details
Building Size
1,320 SF
Year Built
1955
Stories
2
Listing Agency:
Re/Max Edge
Listed By:
Albert Taye · License #TAYA286
(718) 612-3088
Source:
Michaelfraulo
Added: Jun 15
Changed: Sep 8
Last Checked: Sep 8 at 8:39AM
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 Re/Max Edge
Investment Insights
Based on property information with market context.
This solid brick duplex at 1307 E 98th St is set up as a 2-bedroom unit over a 1-bedroom unit. The interiors are well maintained and include hardwood floors and bright, comfortable living spaces. The first-floor apartment is currently rented, supporting immediate income while you occupy the upper unit or plan your next step. The property also offers practical storage throughout. Outside, you’ll find a private driveway, a built-in garage, and a large backyard that can be used for entertaining, gardening, or day-to-day outdoor time.
Located in Canarsie, Brooklyn, the home is described as convenient to shopping, schools, parks, and major amenities. Transit access is rated highly, with a transit score of 95 (Rider’s Paradise) and a walk score of 78 (Very Walkable). The bike score is listed at 51 (Bikeable), which may be relevant for tenants or residents who prefer cycling.
For an end-user, the layout supports multi-generational living or a live-in arrangement with a separate income unit. For buyers focused on rental use, the current tenancy in the first-floor unit provides an existing occupancy status to factor into planning. The combination of driveway parking, a built-in garage, and outdoor space makes the property more functional for everyday resident needs.
Located in Canarsie, Brooklyn, the home is described as convenient to shopping, schools, parks, and major amenities. Transit access is rated highly, with a transit score of 95 (Rider’s Paradise) and a walk score of 78 (Very Walkable). The bike score is listed at 51 (Bikeable), which may be relevant for tenants or residents who prefer cycling.
For an end-user, the layout supports multi-generational living or a live-in arrangement with a separate income unit. For buyers focused on rental use, the current tenancy in the first-floor unit provides an existing occupancy status to factor into planning. The combination of driveway parking, a built-in garage, and outdoor space makes the property more functional for everyday resident needs.
Key Highlights
- Solid brick two‑family duplex built in 1955 with hardwood floors
- 2‑bedroom unit over a 1‑bedroom unit layout
- First‑floor apartment is currently rented for immediate rental income
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-family brick duplex with hardwood floors, a large backyard, and a rented first-floor unit.
Where is this duplex located?
The property is located at 1307 East 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: Solid brick two‑family duplex built in 1955 with hardwood floors; 2‑bedroom unit over a 1‑bedroom unit layout; First‑floor apartment is currently rented for immediate rental income
