Corner Brick Duplex with
New
For Sale
$1,399,000
1401 Cropsey Ave, Brooklyn, NY 11228
Two-family brick residence with separate entrances, private driveway, detached garage, and park-facing exposure.
Property Size2,288 SF
Lot Size0.06 Acres
Price / SF$611.45
Days on Market5
Property Features for 1401 Cropsey Ave
General Information
Standard status
Active
Size
2,288 SF
Lot size
0.06 Acres
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$9,156
Building Details
Building Size
2,288 SF
Year Built
1935
Buildings
2
Stories
2
Construction
brick
Tenancy
Multi
Listing Agency:
Womcore LLC dba Remax Edge
Listed By:
Jason Zhou · License #JZ1320
(718) 612-3088
Source:
Elliman
Added: Sep 18
Last Checked: Sep 21 at 9:20AM
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 two-family brick residence, built in 1935, occupies a corner lot measuring 30x88 ft and includes a private driveway with a detached garage. The first level measures approximately 22x56 ft and contains a two-bedroom apartment with living space, an eat-in kitchen, and front, side, and rear entrances. The upper level measures approximately 22x48 ft and offers three bedrooms, an open living and dining area, a modern kitchen with peninsula seating, a front porch, and a rear deck.
Located in Dyker Park across from the Dyker Beach Park Golf Course, the property benefits from open views and natural light. The Belt Parkway is approximately one block away, while schools, playgrounds, shopping, restaurants, 86th St commercial activity, and public transportation are nearby. Walk Score is 92, Transit Score is 80, and Bike Score is 55.
Located in Dyker Park across from the Dyker Beach Park Golf Course, the property benefits from open views and natural light. The Belt Parkway is approximately one block away, while schools, playgrounds, shopping, restaurants, 86th St commercial activity, and public transportation are nearby. Walk Score is 92, Transit Score is 80, and Bike Score is 55.
Key Highlights
- Two‑family brick residence built in 1935
- 30x88 ft corner lot with private driveway and detached garage
- First floor measures approximately 22x56 ft with a 2‑bedroom apartment
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
$80,130
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
5.73%
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%
$1,602,600
$1.6M
Cap Rate 7%
$1,144,714
$1.1M
Cap Rate 9%
$890,333
$890.3K
Market Conditions
NOI Build-Up for 2,288 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
$116.7K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$114.5K $50.03/SF
− OpEx
−$34.3K −$15.01/SF
NOI
$80.1K $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%
$1,602,600
Cap Rate 7%
$1,144,714
Cap Rate 9%
$890,333
Alternative Uses
Best Use
Multifamily LT 5
$1.14M
$1.00M – $1.34M
NOI $80,130 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$997.9K
$873.1K – $1.16M
NOI $69,850 @ 7.0% cap · market cap 4.99%
Theoretical Best
Specialty Retail
$1.89M
$1.66M – $2.21M
NOI $132,612 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,312
Businesses Nearby
Explore this area
Business Placement
Demographics for 11228, NY
45,906
Population
16,336
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
30,604
Density / Sq Mi
$80,737
Median Household Income
$47,062
Median Earnings
$1,828
Median Rent
$1,131,700
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 - Two-family brick residence with separate entrances, private driveway, detached garage, and park-facing exposure.
Where is this duplex located?
The property is located at 1401 Cropsey Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Two‑family brick residence built in 1935; 30x88 ft corner lot with private driveway and detached garage; First floor measures approximately 22x56 ft with a 2‑bedroom apartment
