Single-Family Residence with Private
For Sale
$995,000
1969 W 8th Street, Brooklyn, NY 11223
Residential, Duplex, Brooklyn, NY
Property Size1,640 SF
Lot Size0.04 Acres
Price / SF$606.71
Days on Market98
Property Features for 1969 W 8th Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R5B
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 5, Bedroom 2
Patio and Porch features
Porch, Patio
Interior features
A/C Unit - Wall, A/C Unit - Window, Dishwasher, Dryer, Laundry Area, Microwave, Patio Garden, Porch, Refrigerator, Stove, Terrace, Washer
Basement
Finished, Full
Subdivision
Gravesend
Standard status
Active
Size
1,640 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
6501
Building Details
Year built
1930
Floors in Building
2
Flooring type
Hardwood, Tile
Building materials
Wood Frame
Roof type
Flat, Shingle
Architectural style
Other
Listing Agency:
Ashford Homes LLC
(929) 364-1301
Listed By:
Siu Kei (Ken) Chan
(929) 364-1301
Added: May 27
Changed: Aug 21
Last Checked: Sep 1 at 5:06PM
MLS# 501792
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 single-family residence offers a multi-level layout with clear separation of everyday living and flexible space. The main level includes a living room, formal dining room, full kitchen, one bedroom, a full bathroom, and direct access to a private outdoor patio. The second floor features an expansive primary bedroom, an additional bedroom, and a full bathroom. A ground floor/walk-in lower level provides a versatile footprint currently used as a home gym and large storage area, which may also support a home office, recreation room, or media space, subject to buyer verification.
The property is located at 1969 W 8th Street in Brooklyn, NY (11223). It is currently occupied by a long-term tenant on a multi-year lease, providing ongoing rental income. The listing also notes potential value-add conversion opportunities based on similar nearby layouts, with all future conversion potential, zoning requirements, and lower-level use subject to the buyer’s independent verification with a licensed architect and the NYC DOB.
Zoned R5B, the home is presented as a turn-key option for buyers seeking an income-producing single-family asset, with financials and lease details available upon request to qualified buyers.
The property is located at 1969 W 8th Street in Brooklyn, NY (11223). It is currently occupied by a long-term tenant on a multi-year lease, providing ongoing rental income. The listing also notes potential value-add conversion opportunities based on similar nearby layouts, with all future conversion potential, zoning requirements, and lower-level use subject to the buyer’s independent verification with a licensed architect and the NYC DOB.
Zoned R5B, the home is presented as a turn-key option for buyers seeking an income-producing single-family asset, with financials and lease details available upon request to qualified buyers.
Key Highlights
- Single‑family home built in 1930 with wood‑frame construction and shingle/flat roof
- 5‑bedroom layout with 3 full bathrooms
- Main level includes living room, formal dining room, full kitchen, 1 bedroom, full bath, and direct access to a private patio
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
$50,067
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
5.03%
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%
$1,001,340
$1.0M
Cap Rate 7%
$715,243
$715.2K
Cap Rate 9%
$556,300
$556.3K
Market Conditions
NOI Build-Up for 1,640 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
$92.9K $56.64/SF
− Vacancy
−$1.9K −$1.13/SF
EGI
$91.0K $55.51/SF
− OpEx
−$41.0K −$24.98/SF
NOI
$50.1K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$1,001,340
Cap Rate 7%
$715,243
Cap Rate 9%
$556,300
Alternative Uses
Best Use
Apartment 5plus
$715.2K
$625.8K – $834.5K
NOI $50,067 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.36M
$1.19M – $1.58M
NOI $95,054 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Turnkey business
Opportunity
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - Single-family home in R5B zoning, currently leased long-term, with a private patio and multi-level living and workspace.
Where is this single family property located?
The property is located at 1969 W 8th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Single‑family home built in 1930 with wood‑frame construction and shingle/flat roof; 5‑bedroom layout with 3 full bathrooms; Main level includes living room, formal dining room, full kitchen, 1 bedroom, full bath, and direct access to a private patio
