Renovated Brooklyn Two-Family
1871 Prospect Place Brooklyn, NY 11233
1871 Prospect Place, Brooklyn, NY, 11233
$1,111,000
For Sale
$1,111,000
MULTI_FAMILY - Brooklyn, NY
Property Size3,000 SF
Lot Size0.06 Acres
Price / SF$370.33
Days on Market114
Property Features for 1871 Prospect Place
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R6
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bedroom 5, Bedroom 4, Bedroom 6, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 3
- Interior features
- Refrigerator, Stove
- Basement
- Full, Finished
- Standard status
- Active
- Size
- 3,000 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Annual Amount
- 4178
Building Details
- Year built
- 1899
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Hardwood
- Building materials
- Brick
- Roof type
- Flat
Listing Agency
Exit All Seasons Realty
(718) 345-4545
8911 Glenwood Rd, Brooklyn, NY
Listed by
Adebanjo Anthony Olatunji
(718) 345-4545
Added: Mar 25 Checked: Jul 16 at 4:06 pm
MLS# 499982
Listing URL
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 meticulously renovated and maintained brick two-family home in Brooklyn offers spacious living areas. Each level features an extra-large three-bedroom apartment with an open floor plan encompassing the dining and living space. The kitchens are equipped with stainless steel appliances, and the bathrooms are stylishly appointed. Solid hardwood floors, high ceilings, and ample storage are present throughout each apartment, enhanced by abundant natural light, with a skylight on the top floor. The property includes a full, beautifully finished basement with an additional bathroom and two separate entrances, offering further living space. The yard is extra spacious, suitable for entertaining or gardening. Located in Brooklyn, the property provides excellent access to public transportation, facilitating easy commuting. This home offers a blend of modern living and income potential.
Key Highlights
- Brick two‑family home built in 1899 with flat roof
- Each level has an extra‑large 3‑bedroom apartment with open dining and living space
- Hardwood floors and high ceilings throughout
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $169.9k | $56.64 |
| − Vacancy | −$3.4k | −$1.13 |
| EGI | $166.5k | $55.51 |
| − OpEx | −$74.9k | −$24.98 |
| NOI | $91.6k | $30.53 |
3,000 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.50M
$1.31M – $1.75M
NOI $105,065 @ 7.0% cap · market cap 9.46%
Second Best
Apartment 5plus
$1.31M
$1.14M – $1.53M
NOI $91,587 @ 7.0% cap · market cap 8.24%
Theoretical Best
Specialty Retail
$2.48M
$2.17M – $2.90M
NOI $173,880 @ 7.0% cap · market cap 15.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Working At home opportunity/Dream ...
Travel Agency
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FAQs
What type of property is this?
Duplex - Meticulously renovated two-family home in Brooklyn with income potential.
Where is this duplex located?
The property is located at 1871 Prospect Place Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,111,000.
What are key features of this property?
This property features: Brick two‑family home built in 1899 with flat roof; Each level has an extra‑large 3‑bedroom apartment with open dining and living space; Hardwood floors and high ceilings throughout
