Detached Two-Family Brick
For Sale
$1,349,999
Pending
1916 83rd St, Brooklyn, NY 11214
As-is two-family with 2BR over 2BR layout and detached garage, suited for buyers ready for full renovation.
Property Size2,240 SF
Days on Market101
Property Features for 1916 83rd St
General Information
Standard status
Pending
Size
2,240 SF
Property subtype
Multi Family
Zoning
R5
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,213
Building Details
Building Size
2,240 SF
Year Built
1930
Stories
2
Listing Agency:
Weichert Realtors The Franzese
Listed By:
Jordan A. Husein
(718) 232-1004
Source:
Elliman
Added: Jun 3
Changed: Aug 13
Last Checked: Sep 10 at 8:19AM
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 Weichert Realtors The Franzese
Investment Insights
Based on property information with market context.
This fully detached two-family brick property is built as a 2-bedroom over 2-bedroom configuration across two stories. The building is 20 ft x 38 ft (approximately 2,240 sq. ft.) and sits on a 30 ft x 100 ft lot. A detached garage and shared driveway provide on-site parking convenience. Built in 1930, the property requires a full gut renovation and is being sold as-is, offering contractors, investors, and builders the opportunity to redesign and reimagine the interior layout.
Located at 1916 83rd St in Brooklyn, NY 11214, the home is described as being in the heart of Bensonhurst and within reach of shopping, restaurants, schools, parks, and public transportation. The listing also notes convenient access to major highways.
For a tenant or owner-operator, the appeal is straightforward: the structure supports a classic two-unit setup while allowing flexibility to update finishes, systems, and configuration through a renovation scope. For investors and builders, the as-is condition and R5 zoning context can support a value-creation approach through complete interior redevelopment, with the detached garage and shared driveway remaining fixed site features.
Located at 1916 83rd St in Brooklyn, NY 11214, the home is described as being in the heart of Bensonhurst and within reach of shopping, restaurants, schools, parks, and public transportation. The listing also notes convenient access to major highways.
For a tenant or owner-operator, the appeal is straightforward: the structure supports a classic two-unit setup while allowing flexibility to update finishes, systems, and configuration through a renovation scope. For investors and builders, the as-is condition and R5 zoning context can support a value-creation approach through complete interior redevelopment, with the detached garage and shared driveway remaining fixed site features.
Key Highlights
- Detached 2‑family brick home (built 1930) configured as 2BR over 2BR across two stories
- Lot size 30 ft x 100 ft and building size 20 ft x 38 ft; approx. 2,240 SF total
- Detached garage with shared driveway
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
$61,096
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
4.53%
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%
$1,221,920
$1.2M
Cap Rate 7%
$872,800
$872.8K
Cap Rate 9%
$678,844
$678.8K
Market Conditions
NOI Build-Up for 2,240 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
$91.4K $40.80/SF
− Vacancy
−$4.1K −$1.84/SF
EGI
$87.3K $38.96/SF
− OpEx
−$26.2K −$11.69/SF
NOI
$61.1K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /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%
$1,221,920
Cap Rate 7%
$872,800
Cap Rate 9%
$678,844
Alternative Uses
Best Use
Multifamily LT 5
$872.8K
$763.7K – $1.02M
NOI $61,096 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$782.2K
$684.5K – $912.6K
NOI $54,756 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$1.31M
$1.14M – $1.52M
NOI $91,469 @ 7.0% cap · market cap 6.78%
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
4,375
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
Median Home Value
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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 - As-is two-family with 2BR over 2BR layout and detached garage, suited for buyers ready for full renovation.
Where is this duplex located?
The property is located at 1916 83rd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,349,999.
What are key features of this property?
This property features: Detached 2‑family brick home (built 1930) configured as 2BR over 2BR across two stories; Lot size 30 ft x 100 ft and building size 20 ft x 38 ft; approx. 2,240 SF total; Detached garage with shared driveway
