Duplex with Separate
New
For Sale
$849,000
17 Margaret Ct, Brooklyn, NY 11235
Vacant two-family residence with a flexible layout and a separate lower-level entrance.
Property Size1,170 SF
Days on Market4
Property Features for 17 Margaret Ct
General Information
Standard status
Active
Size
1,170 SF
Property subtype
Multi Family
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/1.5BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,878
Amenities
split system air conditioning
wet bar
recreational rooms
Building Details
Building Size
1,170 SF
Year Built
1920
Buildings
1
Stories
2
Listing Agency:
Pride Estates
(718) 569-2888
Listed By:
Danny D. Chung
(718) 569-2888
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 8:59AM
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 Pride Estates
Investment Insights
Based on property information with market context.
Built in 1920, this duplex contains two residential apartments with distinct layouts. The upper-level apartment combines two bedrooms and a half bathroom on the second floor with a living room, eat-in kitchen, and full bathroom on the front portion of the first floor. A second apartment occupies the rear first-floor area and includes one bedroom, one full bathroom, a living room, and a kitchen.
The basement has its own entrance and provides two recreation rooms, a wet bar, half bathroom, heating room, and storage. Separate building systems include two electric meters, two gas meters, two heating systems, and two hot water heaters, along with split-system air conditioning. The property is vacant. Located at 17 Margaret Ct in Brooklyn, the home sits on a side street near East 13th Street, between Avenue Z and Avenue Y, with shopping, restaurants, schools, parks, places of worship, and the Sheepshead Bay Subway Station nearby. Walk Score is 96, Transit Score is 84, and Bike Score is 63.
The basement has its own entrance and provides two recreation rooms, a wet bar, half bathroom, heating room, and storage. Separate building systems include two electric meters, two gas meters, two heating systems, and two hot water heaters, along with split-system air conditioning. The property is vacant. Located at 17 Margaret Ct in Brooklyn, the home sits on a side street near East 13th Street, between Avenue Z and Avenue Y, with shopping, restaurants, schools, parks, places of worship, and the Sheepshead Bay Subway Station nearby. Walk Score is 96, Transit Score is 84, and Bike Score is 63.
Key Highlights
- Two‑apartment duplex with distinct first- and second‑floor layouts
- First apartment includes 2 bedrooms, ½ bathroom, living room, eat‑in kitchen, and full bathroom
- Second apartment offers 1 bedroom, 1 full bathroom, living room, and kitchen
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
$40,975
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
4.83%
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%
$819,500
$819.5K
Cap Rate 7%
$585,357
$585.4K
Cap Rate 9%
$455,278
$455.3K
Market Conditions
NOI Build-Up for 1,170 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
$59.7K $51.00/SF
− Vacancy
−$1.1K −$0.97/SF
EGI
$58.5K $50.03/SF
− OpEx
−$17.6K −$15.01/SF
NOI
$41.0K $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%
$819,500
Cap Rate 7%
$585,357
Cap Rate 9%
$455,278
Alternative Uses
Best Use
Multifamily LT 5
$585.4K
$512.2K – $682.9K
NOI $40,975 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$510.3K
$446.5K – $595.3K
NOI $35,719 @ 7.0% cap · market cap 4.21%
Theoretical Best
Specialty Retail
$968.8K
$847.7K – $1.13M
NOI $67,813 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,939
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
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 - Vacant two-family residence with a flexible layout and a separate lower-level entrance.
Where is this duplex located?
The property is located at 17 Margaret Ct Brooklyn, NY.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Two‑apartment duplex with distinct first- and second‑floor layouts; First apartment includes 2 bedrooms, ½ bathroom, living room, eat‑in kitchen, and full bathroom; Second apartment offers 1 bedroom, 1 full bathroom, living room, and kitchen
