Gravesend Two-Family
For Sale
$958,888
Pending
1944 W 8th St, Brooklyn, NY 11223
Two-family home with finished basement in Gravesend neighborhood.
Property Size1,264 SF
Lot Size0.05 Acres
Days on Market232
Property Features for 1944 W 8th St
General Information
Standard status
Pending
Size
1,264 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$7,081
Building Details
Building Size
1,264 SF
Year Built
1925
Stories
2
Listed By:
Richard Nichilo
(718) 232-1004
Source:
Elliman
Added: Mar 12
Changed: Oct 28
Last Checked: Oct 28 at 8:36AM
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 Richard Nichilo
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located in the Gravesend neighborhood, this semi-detached two-family home features a partially finished basement. The property contains a total of 4 bedrooms and 2.5 bathrooms. Situated on a quiet, residential block, the property is suitable for multi-generational living, rental income, or use as a primary residence. The property is located a few minutes from the N train, providing access to Manhattan. The location is near Avenue U, Kings Highway, shops, restaurants, and supermarkets. The property is located within a school district.
Key Highlights
- Two‑family home ideal for multi‑generational living or rental income.
- Convenient location near the N train for easy access to Manhattan.
- Located in a desirable Gravesend neighborhood.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,267
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$885,340
$885.3K
Cap Rate 7%
$632,386
$632.4K
Cap Rate 9%
$491,856
$491.9K
Market Conditions
NOI Build-Up for 1,264 SF
Gross rent
$64.5K $51.00/SF
− Vacancy
−$1.2K −$0.97/SF
EGI
$63.2K $50.03/SF
− OpEx
−$19.0K −$15.01/SF
NOI
$44.3K $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%
$885,340
Cap Rate 7%
$632,386
Cap Rate 9%
$491,856
Alternative Uses
Best Use
Multifamily LT 5
$632.4K
$553.3K – $737.8K
NOI $44,267 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$551.3K
$482.4K – $643.2K
NOI $38,589 @ 7.0% cap · market cap 4.02%
Theoretical Best
Specialty Retail
$1.05M
$915.8K – $1.22M
NOI $73,261 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
3,627
Businesses Nearby
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
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
Frequently Asked Questions
What type of property is this?
Duplex - Two-family home with finished basement in Gravesend neighborhood.
Where is this duplex located?
The property is located at 1944 W 8th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $958,888.
What are key features of this property?
This property features: Two‑family home ideal for multi‑generational living or rental income.; Convenient location near the N train for easy access to Manhattan.; Located in a desirable Gravesend neighborhood.
