Brick Duplex with Private
New
For Sale
$1,999,000
220 Avenue T, Brooklyn, NY 11223
Residential, Brooklyn, NY
Property Size2,244 SF
Lot Size0.05 Acres
Price / SF$890.82
Days on Market6
Property Features for 220 Avenue T
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5B
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 5, Bathroom 3, Bedroom 2, Bedroom 6, Bathroom 2
Interior features
Refrigerator, Stove
Basement
Full, Finished
Subdivision
Gravesend
Standard status
Active
Size
2,244 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
9586
Amenities
basement with separate entrance
all utilities separately metered
Building Details
Year built
1955
Floors in Building
3
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Yuyi Cheng
(718) 838-2600
Added: Sep 4
Changed: Sep 8
Last Checked: Sep 9 at 8:06PM
MLS# 504276
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 2-family brick duplex contains 2,244 square feet with 6 bedrooms and 3 bathrooms. The building measures approximately 20*60 on a 24*100 lot and includes a basement with a separate entrance. Hardwood and tile flooring, a flat roof, refrigerator, and stove are among the documented improvements. Private parking is also included.
All utilities are separately metered for the two-family configuration, and the property will be delivered vacant. The 1955-built home is located near shopping, restaurants, schools, and public transportation, with access to the N and F subway lines. R5B zoning applies.
All utilities are separately metered for the two-family configuration, and the property will be delivered vacant. The 1955-built home is located near shopping, restaurants, schools, and public transportation, with access to the N and F subway lines. R5B zoning applies.
Key Highlights
- 2,244‑square‑foot 2‑family brick home
- 6 bedrooms and 3 bathrooms
- Approximately 2060 building on a 24100 lot
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
$78,589
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
3.93%
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%
$1,571,780
$1.6M
Cap Rate 7%
$1,122,700
$1.1M
Cap Rate 9%
$873,211
$873.2K
Market Conditions
NOI Build-Up for 2,244 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
$114.4K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$112.3K $50.03/SF
− OpEx
−$33.7K −$15.01/SF
NOI
$78.6K $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%
$1,571,780
Cap Rate 7%
$1,122,700
Cap Rate 9%
$873,211
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$982.4K – $1.31M
NOI $78,589 @ 7.0% cap · market cap 3.93%
Second Best
Apartment 5plus
$978.7K
$856.3K – $1.14M
NOI $68,507 @ 7.0% cap · market cap 3.43%
Theoretical Best
Specialty Retail
$1.86M
$1.63M – $2.17M
NOI $130,062 @ 7.0% cap · market cap 6.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,506
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Separately metered utilities and vacant delivery support flexible occupancy planning.
Where is this duplex located?
The property is located at 220 Avenue T Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: 2,244‑square‑foot 2‑family brick home; 6 bedrooms and 3 bathrooms; Approximately 20*60 building on a 24*100 lot
