Brick Duplex with Finished
New
For Sale
$1,999,000
1408 Avenue L, Brooklyn, NY 11230
Residential, Brooklyn, NY
Property Size2,310 SF
Lot Size0.05 Acres
Price / SF$865.37
Days on Market2
Property Features for 1408 Avenue L
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
6
Bathrooms
3
Full bathrooms
2
Rooms
Bedroom 6, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 3, Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 5
Patio and Porch features
Patio
Interior features
A/C Unit, Laundry Area, Patio Garden, Refrigerator, Stove, Window Treatments
Basement
Finished, Full
Subdivision
Midwood
Standard status
Active
Size
2,310 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
9969
Amenities
backyard
patio
solar panels
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
Listed By:
Gennadi B. Barmin
(718) 612-3088
Added: Sep 8
Last Checked: Sep 9 at 8:06PM
MLS# 504336
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.
Located at 1408 Avenue L in Brooklyn, this brick duplex was built in 1930 and contains 2310 square feet on a 20' x 100' lot. Each apartment provides three bedrooms and one bathroom, creating a straightforward two-unit layout. The full finished basement has separate entrances, while hardwood and tile flooring, air-conditioning units, laundry space, a refrigerator, stove, and window treatments are included. Solar panels are installed, and the property also features a flat roof.
Outdoor space includes a backyard and patio. The property is near shopping areas along Avenue M, Avenue J, and Coney Island Avenue, with access to the Q train, Edward R. Murrow High School, local parks, and playgrounds. Zoning is R5, and the annual real estate taxes are excluded from this summary.
Outdoor space includes a backyard and patio. The property is near shopping areas along Avenue M, Avenue J, and Coney Island Avenue, with access to the Q train, Edward R. Murrow High School, local parks, and playgrounds. Zoning is R5, and the annual real estate taxes are excluded from this summary.
Key Highlights
- Two 3‑bedroom, 1‑bathroom apartments
- 2310 square feet on a 20' x 100' lot
- Full finished basement with separate entrances
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
$80,900
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
4.05%
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%
$1,618,000
$1.6M
Cap Rate 7%
$1,155,714
$1.2M
Cap Rate 9%
$898,889
$898.9K
Market Conditions
NOI Build-Up for 2,310 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
$117.8K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$115.6K $50.03/SF
− OpEx
−$34.7K −$15.01/SF
NOI
$80.9K $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%
$1,618,000
Cap Rate 7%
$1,155,714
Cap Rate 9%
$898,889
Alternative Uses
Best Use
Multifamily LT 5
$1.16M
$1.01M – $1.35M
NOI $80,900 @ 7.0% cap · market cap 4.05%
Second Best
Apartment 5plus
$1.01M
$881.5K – $1.18M
NOI $70,522 @ 7.0% cap · market cap 3.53%
Theoretical Best
Specialty Retail
$1.91M
$1.67M – $2.23M
NOI $133,888 @ 7.0% cap · market cap 6.70%
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
3,578
Businesses Nearby
Explore this area
Business Placement
Demographics for 11230, NY
91,391
Population
34,269
Households
2.7
Avg Household Size
35
Median Age
44%
College-Educated
82%
High-School Grad
1.8 sq mi
ZIP Area
50,773
Density / Sq Mi
$69,522
Median Household Income
$43,135
Median Earnings
$1,734
Median Rent
$863,400
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 - The property includes two three-bedroom apartments, a finished basement, and a rear patio.
Where is this duplex located?
The property is located at 1408 Avenue L Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Two 3‑bedroom, 1‑bathroom apartments; 2310 square feet on a 20' x 100' lot; Full finished basement with separate entrances
