Two-Family Multifamily
New
For Sale
$1,200,000
198 Shepherd Ave, Brooklyn, NY 11208
Residential Income, Brooklyn, NY
Property Size2,480 SF
Lot Size0.06 Acres
Price / SF$483.87
Days on Market5
Property Features for 198 Shepherd Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 2, Bedroom 1, Bathroom 3
Security features
Security System
Interior features
Walk-In Closet(s), Master Downstairs
Subdivision
Cypress Hills
Standard status
Active
Size
2,480 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
3770
Utilities
Heating system
Baseboard, Natural Gas
Building Details
Year built
1901
Floors in Building
3
Flooring type
Hardwood, Tile
Building materials
Vinyl Siding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
5 BORO REALTY CORP
(917) 705-0005
Listed By:
Nina Sabag
855-305-DEAL
Added: Oct 22
Changed: Oct 23
Last Checked: Oct 26 at 6:06PM
MLS# 12038370
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2,480-square-foot multifamily property includes a two-family residence and an additional basement rental residence. The home has 5 bedrooms and 3 bathrooms, with walk-in closet(s) and a downstairs primary bedroom. Hardwood and tile flooring, vinyl siding, an asphalt roof, and natural gas baseboard heat are also present.
Built in 1901, the property occupies a 0.0574-acre lot in Brooklyn. Its residential layout combines two family units with a basement residence, offering multiple living spaces within one property.
Built in 1901, the property occupies a 0.0574-acre lot in Brooklyn. Its residential layout combines two family units with a basement residence, offering multiple living spaces within one property.
Key Highlights
- Two‑family property with an additional basement rental residence
- 2,480 square feet with 5 bedrooms and 3 bathrooms
- 0.0574‑acre lot in Brooklyn
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,686
Cap Rate
4.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,133,720
$1.1M
Cap Rate 7%
$809,800
$809.8K
Cap Rate 9%
$629,844
$629.8K
Market Conditions
NOI Build-Up for 2,480 SF
Gross rent
$107.1K $43.20/SF
− Vacancy
−$4.1K −$1.64/SF
EGI
$103.1K $41.56/SF
− OpEx
−$46.4K −$18.70/SF
NOI
$56.7K $22.86/SF
Area
ZIP 11208
Vacancy
3.80%
Lease Rate
$43.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,133,720
Cap Rate 7%
$809,800
Cap Rate 9%
$629,844
Alternative Uses
Best Use
Apartment 5plus
$809.8K
$708.6K – $944.8K
NOI $56,686 @ 7.0% cap · market cap 4.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,222 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,568
Businesses Nearby
Explore this area
Business Placement
Demographics for 11208, NY
101,958
Population
37,261
Households
2.7
Avg Household Size
35
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
37,762
Density / Sq Mi
$59,988
Median Household Income
$40,156
Median Earnings
$1,563
Median Rent
$638,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - A basement rental residence adds a separate income-producing component to the two-family layout.
Where is this multifamily property located?
The property is located at 198 Shepherd Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two‑family property with an additional basement rental residence; 2,480 square feet with 5 bedrooms and 3 bathrooms; 0.0574‑acre lot in Brooklyn
