Renovated Three-Level
For Sale
$1,599,000
1821 Burnett Street, Brooklyn, NY 11229
Residential, Duplex, Brooklyn, NY
Property Size1,700 SF
Lot Size0.05 Acres
Price / SF$940.59
Days on Market12
Property Features for 1821 Burnett Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R4
Bedrooms
3
Bathrooms
4
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 3, Bedroom 2, Bathroom 2, Bathroom 4, Bedroom 3, Bathroom 1
Parking features
Garage - Detached
Patio and Porch features
Patio, Porch
Interior features
A/C Unit, Central Air - Split, Dishwasher, Dryer, Garage Door Opener(s), Laundry Area, Microwave, Patio Garden, Porch, Refrigerator, Stove, Terrace, Washer, Window Treatments
Basement
Finished, Full
Subdivision
Marine Park
Standard status
Active
Size
1,700 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
7727
Amenities
heated floors
split-unit heating & cooling
individual room controls
front yard
backyard
stone-paved deck
Building Details
Year built
1935
Floors in Building
2
Flooring type
Stone, Parquet Wood, Tile, Ceramic, Hardwood
Roof type
Flat
Architectural style
Other
Listing Agency:
eXp Realty BKNY
(888) 276-0630
Listed By:
Aaron Ivatorov · License #10301222307
(917) 532-5501
Added: Sep 10
Changed: Sep 15
Last Checked: Sep 21 at 7:06PM
MLS# 504457
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 renovated duplex at 1821 Burnett Street provides 1,700 square feet across three levels, with 3 bedrooms, an office, and 4 bathrooms. The interior includes living, dining, and family rooms, along with a custom eat-in kitchen equipped with a stove, refrigerator, dishwasher, microwave, and washer and dryer. Hardwood, tile, ceramic, stone, and parquet wood flooring are featured throughout. Split-unit heating and cooling, heated floors, recessed and LED lighting, crown moldings, and decorative millwork add to the finish package.
Exterior features include a front yard, backyard, stone-paved deck, patio, porch, and terrace. The property also includes a private detached 1-car garage with a shared driveway. Built in 1935, the residence occupies a 0.0494-acre lot and is designated R4. It is located in Brooklyn, NY 11229, in Kings County.
Exterior features include a front yard, backyard, stone-paved deck, patio, porch, and terrace. The property also includes a private detached 1-car garage with a shared driveway. Built in 1935, the residence occupies a 0.0494-acre lot and is designated R4. It is located in Brooklyn, NY 11229, in Kings County.
Key Highlights
- 3 bedrooms plus office and 4 bathrooms across 3 levels
- 1,700 square feet on a 0.0494‑acre lot
- Custom eat‑in kitchen with high‑end appliances and designer tiling
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
$59,537
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
3.72%
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%
$1,190,740
$1.2M
Cap Rate 7%
$850,529
$850.5K
Cap Rate 9%
$661,522
$661.5K
Market Conditions
NOI Build-Up for 1,700 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
$86.7K $51.00/SF
− Vacancy
−$1.6K −$0.97/SF
EGI
$85.1K $50.03/SF
− OpEx
−$25.5K −$15.01/SF
NOI
$59.5K $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%
$1,190,740
Cap Rate 7%
$850,529
Cap Rate 9%
$661,522
Alternative Uses
Best Use
Multifamily LT 5
$850.5K
$744.2K – $992.3K
NOI $59,537 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$741.4K
$648.7K – $865.0K
NOI $51,899 @ 7.0% cap · market cap 3.25%
Theoretical Best
Specialty Retail
$1.41M
$1.23M – $1.64M
NOI $98,532 @ 7.0% cap · market cap 6.16%
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
2,115
Businesses Nearby
Explore this area
Business Placement
Demographics for 11229, NY
83,669
Population
33,353
Households
2.5
Avg Household Size
40
Median Age
41%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
41,835
Density / Sq Mi
$72,556
Median Household Income
$52,948
Median Earnings
$1,666
Median Rent
$812,200
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
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Frequently Asked Questions
What type of property is this?
Duplex - R4-zoned residence with updated interiors, private outdoor areas, and detached garage parking.
Where is this duplex located?
The property is located at 1821 Burnett Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: 3 bedrooms plus office and 4 bathrooms across 3 levels; 1,700 square feet on a 0.0494‑acre lot; Custom eat‑in kitchen with high‑end appliances and designer tiling
