Two-Family Brick House in
For Sale
$1,150,000
Pending
1511 85th Street, Brooklyn, NY 11228
Legal two-family brick house with parking in prime location.
Property Size1,824 SF
Days on Market652
Property Features for 1511 85th Street
General Information
Standard status
Pending
Size
1,824 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$9,096
Building Details
Year Built
1955
Listing Agency:
RE/MAX Edge
Listed By:
Jason Zhou · License #JZ1320
(718) 612-3088
Source:
Exitrealty
Added: Dec 28, 2024
Changed: Oct 4
Last Checked: Oct 9 at 5:49PM
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 RE/MAX Edge
Investment Insights
Based on property information with market context.
This legal two-family brick house is located in a prime neighborhood. Situated on a quiet, tree-lined block, the property is close to daily amenities. The building, with dimensions of 20x32 feet, sits on a 20x100 foot lot. The property includes a community driveway with space for two parking spaces. The layout features a duplex apartment with three bedrooms and a full bathroom on the top floor, above a living room, dining room, and kitchen on the middle floor, which also provides rear access to a deck and backyard. Additionally, there is a one-bedroom apartment on the walk-in level. The annual property tax is $9096.
Key Highlights
- Legal two‑family brick house
- Prime neighborhood location
- Community driveway with 2 parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,880
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,277,600
$1.3M
Cap Rate 7%
$912,571
$912.6K
Cap Rate 9%
$709,778
$709.8K
Market Conditions
NOI Build-Up for 1,824 SF
Gross rent
$93.0K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$91.3K $50.03/SF
− OpEx
−$27.4K −$15.01/SF
NOI
$63.9K $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 Rate 5%
$1,277,600
Cap Rate 7%
$912,571
Cap Rate 9%
$709,778
Alternative Uses
Best Use
Multifamily LT 5
$912.6K
$798.5K – $1.06M
NOI $63,880 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$795.5K
$696.1K – $928.1K
NOI $55,685 @ 7.0% cap · market cap 4.84%
Theoretical Best
Specialty Retail
$1.51M
$1.32M – $1.76M
NOI $105,719 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,747
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
View Realmo Analytics
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 - Legal two-family brick house with parking in prime location.
Where is this duplex located?
The property is located at 1511 85th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Legal two‑family brick house; Prime neighborhood location; Community driveway with 2 parking spaces
