Brooklyn Two-Family House with
For Sale
$1,380,000
1966 West 8th Street, Brooklyn, NY 11223
Legal two-family home with parking, near N and R train.
Property Size1,600 SF
Days on Market161
Property Features for 1966 West 8th Street
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Multi Family Home
Zoning
R5B
Building Details
Building Size
1,600 SF
Year Built
1950
Stories
2
Listing Agency:
E House Realty & Mgt. Inc
Listed By:
Mingqin Sun
(718) 551-4795
Source:
Excellchoicerealty
Added: Apr 2
Changed: Sep 8
Last Checked: Sep 8 at 4:23AM
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 E House Realty & Mgt. Inc
Investment Insights
Based on property information with market context.
This well-maintained legal two-family home in Brooklyn offers investment and living opportunities. The property includes a legal front parking space. The building size is 16 x 50, situated on a 20 x 100 lot. Annual property taxes are $6,872. The first floor features 2 bedrooms and 1 living room. The second floor includes 3 bedrooms and 1 living room. The finished basement has a separate entrance, 1 bedroom, and 1 living room. Located 3 minutes from the N and R train, this property is suitable for end-users and investors looking to live in one unit while generating rental income from the others. The bike score is 67, indicating it is bikeable. The walk score is 83, meaning it is very walkable. The transit score is 88, indicating excellent transit options.
Key Highlights
- Legal two‑family house offering investment and living opportunities
- Finished basement with separate entrance, including 1 bedroom and 1 living room
- Legal front parking space
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
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Open Analytics
Current Use
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
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Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family home with parking, near N and R train.
Where is this duplex located?
The property is located at 1966 West 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 house offering investment and living opportunities; Finished basement with separate entrance, including 1 bedroom and 1 living room; Legal front parking space
