Renovated Brownstone
For Sale
$1,599,999
1380 Sterling Pl, Brooklyn, NY 11213
Fully occupied two-unit brownstone with private outdoor space, separate utility metering, and updated residential systems.
Property Size1,775 SF
Price / SF$901.41
Days on Market16
Property Features for 1380 Sterling Pl
General Information
Standard status
Active
Size
1,775 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Gross Income
$93,780
Taxes and HOA fees
Annual Taxes
$5,510
Amenities
washer/dryer
dual zone central air HVAC
smart lock door systems
backyard with garden
private fence
Building Details
Year Renovated
2022
Buildings
1
Construction
brownstone
Tenancy
Multi
Listing Agency:
Park Assets Real Estate Corp
(347) 549-5890
Listed By:
Ragib Bhuiya
(347) 549-5890
Source:
Exprealty
Added: Jul 27
Changed: Aug 3
Last Checked: Aug 10 at 7:31AM
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 Park Assets Real Estate Corp
Investment Insights
Based on property information with market context.
This two-unit brownstone was renovated in 2022 and is fully occupied. The first-floor duplex measures 900 square feet and includes two bedrooms, two bathrooms, an office, private backyard access, and lower-level storage with a full bathroom and separate front entrance. The second-floor residence measures 875 square feet and offers two bedrooms, two bathrooms, an office, and two skylights. Both primary bedrooms include private bathrooms and walk-in closets.
Each unit has its own washer and dryer, dual-zone central air HVAC, separate gas and electric meters, and smart-lock access. The backyard includes a garden and a new privacy fence. Tenants pay their own utilities, while water is covered by the landlord. The property is located at 1380 Sterling Pl in Brooklyn, NY.
Each unit has its own washer and dryer, dual-zone central air HVAC, separate gas and electric meters, and smart-lock access. The backyard includes a garden and a new privacy fence. Tenants pay their own utilities, while water is covered by the landlord. The property is located at 1380 Sterling Pl in Brooklyn, NY.
Key Highlights
- Renovated in 2022 and fully occupied
- Two units measuring 900 square feet and 875 square feet
- First‑floor duplex includes private backyard access, office, and lower‑level storage
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
$62,164
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
3.89%
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%
$1,243,280
$1.2M
Cap Rate 7%
$888,057
$888.1K
Cap Rate 9%
$690,711
$690.7K
Market Conditions
NOI Build-Up for 1,775 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
$90.5K $51.00/SF
− Vacancy
−$1.7K −$0.97/SF
EGI
$88.8K $50.03/SF
− OpEx
−$26.6K −$15.01/SF
NOI
$62.2K $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%
$1,243,280
Cap Rate 7%
$888,057
Cap Rate 9%
$690,711
Alternative Uses
Best Use
Multifamily LT 5
$888.1K
$777.1K – $1.04M
NOI $62,164 @ 7.0% cap · market cap 3.89%
Second Best
Apartment 5plus
$774.1K
$677.4K – $903.2K
NOI $54,189 @ 7.0% cap · market cap 3.39%
Theoretical Best
Specialty Retail
$1.47M
$1.29M – $1.71M
NOI $102,879 @ 7.0% cap · market cap 6.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,901
Businesses Nearby
Explore this area
Business Placement
Demographics for 11213, NY
67,217
Population
29,186
Households
2.3
Avg Household Size
34
Median Age
34%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
61,106
Density / Sq Mi
$62,040
Median Household Income
$43,736
Median Earnings
$1,607
Median Rent
$1,184,400
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 - Fully occupied two-unit brownstone with private outdoor space, separate utility metering, and updated residential systems.
Where is this duplex located?
The property is located at 1380 Sterling Pl Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,599,999.
What are key features of this property?
This property features: Renovated in 2022 and fully occupied; Two units measuring 900 square feet and 875 square feet; First‑floor duplex includes private backyard access, office, and lower‑level storage
