Renovated Two-Family
New
For Sale
$1,295,000
207 ATKINS Ave, Brooklyn, NY 11208
Two residences offer flexible living arrangements, private outdoor space, basement storage, and convenient public transportation access.
Property Size3,143 SF
Days on Market5
Property Features for 207 ATKINS Ave
General Information
Standard status
Active
Size
3,143 SF
Property subtype
Multi Family
Units
Unit Mix
3BR/2BA, 4BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$816
Amenities
private backyard
washer/dryer
basement
Building Details
Building Size
3,143 SF
Year Built
1899
Buildings
1
Stories
2
Units
2
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Jessica Peters · License #10301209015
(718) 486-4429
Source:
Elliman
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 5 at 8:38AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This renovated two-family property contains two separate residences with practical layouts. The first-floor unit includes 3 bedrooms, 2 full bathrooms, a private backyard, and access to a large basement with additional space. Laundry equipment is located downstairs. The second-floor unit provides 4 bedrooms and 2 full bathrooms, creating a substantial upper-level residence for household use or rental occupancy.
The property is located near Pitkin Avenue’s shopping corridor in East New York, with supermarkets, restaurants, pharmacies, local shops, parks, and playgrounds nearby. Multiple bus routes and subway connections serve the surrounding area, including the Shepherd Avenue C train and additional A/C service. WalkScore is 87, TransitScore is 88, and BikeScore is 56. The home was built in 1899.
The property is located near Pitkin Avenue’s shopping corridor in East New York, with supermarkets, restaurants, pharmacies, local shops, parks, and playgrounds nearby. Multiple bus routes and subway connections serve the surrounding area, including the Shepherd Avenue C train and additional A/C service. WalkScore is 87, TransitScore is 88, and BikeScore is 56. The home was built in 1899.
Key Highlights
- Two‑family layout with separate first- and second‑floor residences
- First‑floor unit includes 3 bedrooms, 2 full bathrooms, private backyard, and basement access
- Second‑floor unit offers 4 bedrooms and 2 full bathrooms
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
$80,682
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
6.23%
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%
$1,613,640
$1.6M
Cap Rate 7%
$1,152,600
$1.2M
Cap Rate 9%
$896,467
$896.5K
Market Conditions
NOI Build-Up for 3,143 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
$120.7K $38.40/SF
− Vacancy
−$5.4K −$1.73/SF
EGI
$115.3K $36.67/SF
− OpEx
−$34.6K −$11.00/SF
NOI
$80.7K $25.67/SF
Area
ZIP 11208
Vacancy
4.50%
Lease Rate
$38.40 /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%
$1,613,640
Cap Rate 7%
$1,152,600
Cap Rate 9%
$896,467
Alternative Uses
Best Use
Multifamily LT 5
$1.15M
$1.01M – $1.34M
NOI $80,682 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$1.03M
$898.0K – $1.20M
NOI $71,840 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,619 @ 7.0% cap · market cap 10.40%
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
2,988
Businesses Nearby
Explore this area
Business Placement
Demographics for 11208, NY
101,958
Population
37,261
Households
2.7
Avg Household Size
35
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
37,762
Density / Sq Mi
$59,988
Median Household Income
$40,156
Median Earnings
$1,563
Median Rent
$638,200
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 flexible living arrangements, private outdoor space, basement storage, and convenient public transportation access.
Where is this duplex located?
The property is located at 207 ATKINS Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Two‑family layout with separate first- and second‑floor residences; First‑floor unit includes 3 bedrooms, 2 full bathrooms, private backyard, and basement access; Second‑floor unit offers 4 bedrooms and 2 full bathrooms
