Brick Two-Family
For Sale
$995,000
Pending
1802 Stuart St, Brooklyn, NY 11229
Offers a four-bedroom main residence plus a separate one-bedroom apartment with private outdoor access.
Property Size2,460 SF
Days on Market135
Property Features for 1802 Stuart St
General Information
Standard status
Pending
Size
2,460 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,431
Amenities
back yard terrace
laundry area
Building Details
Building Size
2,460 SF
Year Built
1950
Stories
3
Construction
brick
Listing Agency:
Womcore LLC dba Remax Edge
Listed By:
Mei Hua (Michelle) Dong · License #10401364256
(718) 612-3088
Source:
Elliman
Added: Apr 28
Changed: Sep 3
Last Checked: Sep 8 at 4:16AM
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 Womcore LLC dba Remax Edge
Investment Insights
Based on property information with market context.
This well-maintained, semi-detached brick duplex contains two residential units. The primary residence includes a living room, dining room, eat-in kitchen, half bathroom, laundry area, four bedrooms, and a full bathroom. The kitchen provides access to the backyard terrace and private garage. The second apartment has one bedroom and one full bathroom. Multiple windows bring natural light into the home.
The property is located at 1802 Stuart St in Brooklyn, near the Sheepshead Bay and Marine Park areas. Shopping, restaurants, schools, parks, houses of worship, and public transportation are nearby. WalkScore is 86, TransitScore is 84, and BikeScore is 71. Built in 1950, the home also includes parking for up to two cars.
The property is located at 1802 Stuart St in Brooklyn, near the Sheepshead Bay and Marine Park areas. Shopping, restaurants, schools, parks, houses of worship, and public transportation are nearby. WalkScore is 86, TransitScore is 84, and BikeScore is 71. Built in 1950, the home also includes parking for up to two cars.
Key Highlights
- Two residential units: a 4‑bedroom main residence and a 1‑bedroom, 1‑bath apartment
- Semi‑detached brick construction with backyard terrace access
- Private 1‑car garage offers parking for up to 2 cars
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
$86,153
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
8.66%
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%
$1,723,060
$1.7M
Cap Rate 7%
$1,230,757
$1.2M
Cap Rate 9%
$957,256
$957.3K
Market Conditions
NOI Build-Up for 2,460 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
$125.5K $51.00/SF
− Vacancy
−$2.4K −$0.97/SF
EGI
$123.1K $50.03/SF
− OpEx
−$36.9K −$15.01/SF
NOI
$86.2K $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%
$1,723,060
Cap Rate 7%
$1,230,757
Cap Rate 9%
$957,256
Alternative Uses
Best Use
Multifamily LT 5
$1.23M
$1.08M – $1.44M
NOI $86,153 @ 7.0% cap · market cap 8.66%
Second Best
Apartment 5plus
$1.07M
$938.8K – $1.25M
NOI $75,101 @ 7.0% cap · market cap 7.55%
Theoretical Best
Specialty Retail
$2.04M
$1.78M – $2.38M
NOI $142,582 @ 7.0% cap · market cap 14.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,115
Businesses Nearby
Explore this area
Business Placement
Demographics for 11229, NY
83,669
Population
33,353
Households
2.5
Avg Household Size
40
Median Age
41%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
41,835
Density / Sq Mi
$72,556
Median Household Income
$52,948
Median Earnings
$1,666
Median Rent
$812,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Offers a four-bedroom main residence plus a separate one-bedroom apartment with private outdoor access.
Where is this duplex located?
The property is located at 1802 Stuart St Brooklyn, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Two residential units: a 4‑bedroom main residence and a 1‑bedroom, 1‑bath apartment; Semi‑detached brick construction with backyard terrace access; Private 1‑car garage offers parking for up to 2 cars
