Two-Family Duplex
For Sale
$798,000
27 Milford Street, Brooklyn, NY 11208
Two-family residential property with substantial room for renovation and customization.
Property Size1,728 SF
Days on Market45
Property Features for 27 Milford Street
General Information
Standard status
Active
Size
1,728 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
needs some TLC
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,293
Building Details
Building Size
1,728 SF
Year Built
1910
Units
2
Listing Agency:
Douglas Elliman Real Estate
(516) 354-6500
Listed By:
Elizabeth Richards SFR · License #40RI1097355
(917) 692-9330
Source:
Cohenandcohenrealty
Added: Jul 27
Changed: Sep 8
Last Checked: Aug 29 at 10:17AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This duplex property, constructed in 1910, includes six bedrooms and four full bathrooms across its two-family configuration. The home requires some renovation, providing an opportunity to update the existing layout and finishes while retaining its residential income-property format.
The property is located at 27 Milford Street in Brooklyn’s East New York neighborhood, with access to area amenities. Its bedroom and bathroom count supports both owner-occupant and rental-income applications, as identified in the property information.
The property is located at 27 Milford Street in Brooklyn’s East New York neighborhood, with access to area amenities. Its bedroom and bathroom count supports both owner-occupant and rental-income applications, as identified in the property information.
Key Highlights
- Two‑family duplex configuration
- Six bedrooms and four full bathrooms
- Built in 1910
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
$44,358
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
5.56%
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%
$887,160
$887.2K
Cap Rate 7%
$633,686
$633.7K
Cap Rate 9%
$492,867
$492.9K
Market Conditions
NOI Build-Up for 1,728 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
$66.4K $38.40/SF
− Vacancy
−$3.0K −$1.73/SF
EGI
$63.4K $36.67/SF
− OpEx
−$19.0K −$11.00/SF
NOI
$44.4K $25.67/SF
Area
ZIP 11208
Vacancy
4.50%
Lease Rate
$38.40 /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%
$887,160
Cap Rate 7%
$633,686
Cap Rate 9%
$492,867
Alternative Uses
Best Use
Multifamily LT 5
$633.7K
$554.5K – $739.3K
NOI $44,358 @ 7.0% cap · market cap 5.56%
Second Best
Apartment 5plus
$564.2K
$493.7K – $658.3K
NOI $39,497 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$1.06M
$925.2K – $1.23M
NOI $74,013 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,070
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
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 - Two-family residential property with substantial room for renovation and customization.
Where is this duplex located?
The property is located at 27 Milford Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $798,000.
What are key features of this property?
This property features: Two‑family duplex configuration; Six bedrooms and four full bathrooms; Built in 1910
