Legal Two-Family Duplex with
For Sale
$1,380,000
1966 W 8th Street, Brooklyn, NY 11223
MULTI_FAMILY - Brooklyn, NY
Property Size1,600 SF
Lot Size0.05 Acres
Price / SF$862.50
Days on Market136
Property Features for 1966 W 8th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5B
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bathroom 3
Parking features
Carport
Interior features
Refrigerator, Stove
Basement
Full
Subdivision
Gravesend
Standard status
Active
Size
1,600 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
6872
Building Details
Year built
1950
Floors in Building
2
Number of units
2
Flooring type
Hardwood
Building materials
Block
Roof type
Flat
Listing Agency:
E House Realty & Mgt. Inc
(718) 551-4795
Listed By:
Mingqin Sun
(718) 680-2776
Added: Apr 2
Changed: Aug 3
Last Checked: Aug 15 at 2:06AM
MLS# 500171
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 legal two-family duplex offers a practical live-and-rent configuration plus flexible space in the basement. The first floor features two bedrooms and one living room, and the second floor offers three bedrooms and one living room. The finished basement includes one bedroom and one living room and has a separate entrance. Interior finishes include hardwood flooring, and kitchen appliances noted include a refrigerator and stove.
The property includes a legal front parking space and carport parking. It was built in 1950 with block construction and a flat roof. The site is listed at 0.0459 acres, with building size noted as 16 by 50 and lot size noted as 20 by 100, and it is zoned R5B. Public remarks indicate the location is approximately three minutes to the N and R train.
With a clear two-level residential layout and an independently accessed finished basement, the home supports a range of occupancy and tenancy approaches consistent with a two-family property.
The property includes a legal front parking space and carport parking. It was built in 1950 with block construction and a flat roof. The site is listed at 0.0459 acres, with building size noted as 16 by 50 and lot size noted as 20 by 100, and it is zoned R5B. Public remarks indicate the location is approximately three minutes to the N and R train.
With a clear two-level residential layout and an independently accessed finished basement, the home supports a range of occupancy and tenancy approaches consistent with a two-family property.
Key Highlights
- Legal two‑family duplex with finished basement and separate entrance
- R5B zoning
- 0.0459‑acre lot; building size noted as 16 by 50
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
$56,035
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
4.06%
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%
$1,120,700
$1.1M
Cap Rate 7%
$800,500
$800.5K
Cap Rate 9%
$622,611
$622.6K
Market Conditions
NOI Build-Up for 1,600 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
$81.6K $51.00/SF
− Vacancy
−$1.6K −$0.97/SF
EGI
$80.0K $50.03/SF
− OpEx
−$24.0K −$15.01/SF
NOI
$56.0K $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%
$1,120,700
Cap Rate 7%
$800,500
Cap Rate 9%
$622,611
Alternative Uses
Best Use
Multifamily LT 5
$800.5K
$700.4K – $933.9K
NOI $56,035 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$697.8K
$610.6K – $814.1K
NOI $48,846 @ 7.0% cap · market cap 3.54%
Theoretical Best
Specialty Retail
$1.32M
$1.16M – $1.55M
NOI $92,736 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - R5B zoned legal two-family duplex with front carport parking and a finished basement with a separate entrance.
Where is this duplex located?
The property is located at 1966 W 8th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,380,000.
What are key features of this property?
This property features: Legal two‑family duplex with finished basement and separate entrance; R5B zoning; 0.0459‑acre lot; building size noted as 16 by 50
