Renovated Duplex with
For Sale
$1,298,000
20 Corbin Place, Brooklyn, NY 11235
Renovated two-family residence with a separate studio entrance, private outdoor space, and attached garage.
Property Size2,106 SF
Days on Market154
Property Features for 20 Corbin Place
General Information
Standard status
Active
Size
2,106 SF
Property subtype
Multi Family Home
Zoning
R6
Building Details
Building Size
2,106 SF
Year Built
1940
Stories
3
Listing Agency:
Maximillion Realty, Inc.
(718) 376-9300
Listed By:
Alla Veksler
(718) 376-9300
Source:
Michaelfraulo
Added: Mar 29
Changed: Aug 29
Last Checked: Aug 25 at 9:24AM
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 Maximillion Realty, Inc.
Investment Insights
Based on property information with market context.
This renovated brick duplex is arranged as a three-bedroom upper residence over a walk-in studio apartment with its own entrance. The home contains over 2100 sq ft of interior space on an 18 by 116 lot and is currently used as a single-family residence. Interior improvements include a custom Italian kitchen with Miele appliances, cherry wood flooring, Italian interior doors, built-in bedroom storage, nine-foot ceilings, and detailed crown moldings. Three bathrooms feature radiant heated floors, while the property also includes three-zone central heating and cooling, a tankless water heater, Andersen windows, and a Miele washer/dryer.
Outdoor amenities include a private terrace, an enormous paved backyard with an outdoor kitchen and in-ground lighting, an all-paved driveway, and an attached garage. Additional improvements include a custom-built Finland sauna, Jacuzzi tub, cast iron stair railing, and Swarovski chandeliers. The property is zoned R6, was built in 1940, and offers two parking spots.
Outdoor amenities include a private terrace, an enormous paved backyard with an outdoor kitchen and in-ground lighting, an all-paved driveway, and an attached garage. Additional improvements include a custom-built Finland sauna, Jacuzzi tub, cast iron stair railing, and Swarovski chandeliers. The property is zoned R6, was built in 1940, and offers two parking spots.
Key Highlights
- Three‑bedroom duplex over a walk‑in studio apartment with separate entrance
- Over 2100 sq ft on an 18 by 116 lot
- Custom Italian kitchen with Miele stainless steel appliances
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
$73,756
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
5.68%
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%
$1,475,120
$1.5M
Cap Rate 7%
$1,053,657
$1.1M
Cap Rate 9%
$819,511
$819.5K
Market Conditions
NOI Build-Up for 2,106 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
$107.4K $51.00/SF
− Vacancy
−$2.0K −$0.97/SF
EGI
$105.4K $50.03/SF
− OpEx
−$31.6K −$15.01/SF
NOI
$73.8K $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%
$1,475,120
Cap Rate 7%
$1,053,657
Cap Rate 9%
$819,511
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$922.0K – $1.23M
NOI $73,756 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$918.5K
$803.7K – $1.07M
NOI $64,294 @ 7.0% cap · market cap 4.95%
Theoretical Best
Specialty Retail
$1.74M
$1.53M – $2.03M
NOI $122,064 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,838
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Renovated two-family residence with a separate studio entrance, private outdoor space, and attached garage.
Where is this duplex located?
The property is located at 20 Corbin Place Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,298,000.
What are key features of this property?
This property features: Three‑bedroom duplex over a walk‑in studio apartment with separate entrance; Over 2100 sq ft on an 18 by 116 lot; Custom Italian kitchen with Miele stainless steel appliances
