Corner Two-Family Brick
New
For Sale
$1,399,000
1401 Cropsey Avenue, Brooklyn, NY 11228
Residential, Brooklyn, NY
Property Size2,288 SF
Lot Size0.06 Acres
Price / SF$611.45
Days on Market6
Property Features for 1401 Cropsey Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 1
Parking features
Garage - Detached
Patio and Porch features
Porch, Deck
Interior features
A/C Unit - Wall, A/C Unit - Window, Deck, Dishwasher, Porch, Refrigerator, Stove, Terrace
Subdivision
Bath Beach
Standard status
Active
Size
2,288 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
9156
Amenities
front porch
rear deck
Building Details
Year built
1935
Floors in Building
2
Flooring type
Tile, Hardwood, Carpet
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Jason Zhou · License #JZ1320
(347) 988-5318
Added: Sep 16
Last Checked: Sep 21 at 7:06PM
MLS# 504596
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,288-square-foot duplex is a two-family brick residence built in 1935 on a 0.0606-acre corner lot measuring 30x88 feet. The first-floor apartment is approximately 22x56 feet with two bedrooms, a living room, eat-in kitchen, and front, side, and rear entrances. The second level measures approximately 22x48 feet and offers three bedrooms, an open living and dining area, kitchen with peninsula seating, front porch, and rear deck. Tile, carpet, and hardwood flooring are present throughout the home, along with wall and window A/C units, a dishwasher, refrigerator, and stove.
The property includes a detached garage and private driveway. Its corner position faces Dyker Beach Park Golf Course and provides open park and golf course exposure. The home is approximately one block from the Belt Parkway and near playgrounds, schools, 86th Street commercial amenities, shopping, restaurants, and public transportation. R4 zoning applies.
The property includes a detached garage and private driveway. Its corner position faces Dyker Beach Park Golf Course and provides open park and golf course exposure. The home is approximately one block from the Belt Parkway and near playgrounds, schools, 86th Street commercial amenities, shopping, restaurants, and public transportation. R4 zoning applies.
Key Highlights
- Two‑family brick duplex with 2,288 square feet of building area
- 0.0606‑acre corner lot measuring 30x88 feet
- First‑floor two‑bedroom apartment; second floor includes three bedrooms
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
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,577
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - R4-zoned residence with a private driveway, detached garage, outdoor living areas, and separate two-level apartment layouts.
Where is this duplex located?
The property is located at 1401 Cropsey Avenue 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 duplex with 2,288 square feet of building area; 0.0606‑acre corner lot measuring 30x88 feet; First‑floor two‑bedroom apartment; second floor includes three bedrooms
