Renovated Duplex with Separate
New
For Sale
$997,000
240 E 48th Street, Brooklyn, NY 11203
Residential Income, Brooklyn, NY
Property Size2,000 SF
Lot Size0.05 Acres
Price / SF$498.50
Days on Market2
Property Features for 240 E 48th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 3, Bedroom 3, Bathroom 1, Bedroom 4, Bedroom 5, Bathroom 2, Laundry Room, Bedroom 6, Bedroom 2, Bedroom 1
Security features
Security System
Patio and Porch features
Porch, Patio
Fireplace
1
Subdivision
Little Caribbean
Standard status
Active
Size
2,000 SF
Lot size
0.05 Acres
Utilities
Heating system
Electric (Heating), Heat Pump (Heating)
Water source
Public
Amenities
security system
laundry area
fireplace
garden
Building Details
Year built
1940
Floors in Building
2
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Rubber
Architectural style
Other
Listing Agency:
EAGLES NESTERS LLC
Listed By:
Wilfred Howard
(347) 350-8138
Added: Oct 7
Last Checked: Oct 8 at 6:06PM
MLS# 12017584
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.
Investment Insights
Based on property information with market context.
This brick duplex offers 2,000 square feet with six bedrooms and four bathrooms. The property has been updated with hardwood and tile flooring, two kitchens featuring stainless steel appliances and quartz counters, and two designated laundry areas. Each apartment has its own HVAC system with individual controls and a separate electrical panel. Additional improvements include a new roof, windows, wiring, plumbing, and two electric hot water tanks. A fenced backyard, front porch, patio, and two-car driveway provide outdoor and parking features.
Located in East Flatbush, the property has access to train lines 2, 3, 4, and 5, as well as bus service. Nearby destinations named in the property information include Prospect Park, Kings Theater, Kings Plaza Mall, and several hospitals.
Located in East Flatbush, the property has access to train lines 2, 3, 4, and 5, as well as bus service. Nearby destinations named in the property information include Prospect Park, Kings Theater, Kings Plaza Mall, and several hospitals.
Key Highlights
- Duplex with 6 bedrooms and 4 bathrooms
- 2,000 square feet on a 0.0505‑acre lot
- Two apartments, each with its own HVAC system and electrical panel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,043
Cap Rate
7.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,400,860
$1.4M
Cap Rate 7%
$1,000,614
$1.0M
Cap Rate 9%
$778,256
$778.3K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$102.0K $51.00/SF
− Vacancy
−$1.9K −$0.97/SF
EGI
$100.1K $50.03/SF
− OpEx
−$30.0K −$15.01/SF
NOI
$70.0K $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 Rate 5%
$1,400,860
Cap Rate 7%
$1,000,614
Cap Rate 9%
$778,256
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$875.5K – $1.17M
NOI $70,043 @ 7.0% cap · market cap 7.03%
Second Best
Apartment 5plus
$872.3K
$763.2K – $1.02M
NOI $61,058 @ 7.0% cap · market cap 6.12%
Theoretical Best
Specialty Retail
$1.66M
$1.45M – $1.93M
NOI $115,920 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,239
Businesses Nearby
Explore this area
Business Placement
Demographics for 11203, NY
81,824
Population
33,434
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
38,964
Density / Sq Mi
$68,028
Median Household Income
$47,302
Median Earnings
$1,566
Median Rent
$677,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two apartments have independent heating and cooling, updated kitchens, and dedicated laundry areas.
Where is this duplex located?
The property is located at 240 E 48th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $997,000.
What are key features of this property?
This property features: Duplex with 6 bedrooms and 4 bathrooms; 2,000 square feet on a 0.0505‑acre lot; Two apartments, each with its own HVAC system and electrical panel
