Brick Duplex with Solar
For Sale
$829,000
272 Nichols Avenue, Brooklyn, NY 11208
Residential Income, Brooklyn, NY
Property Size2,128 SF
Lot Size0.04 Acres
Price / SF$389.57
Days on Market179
Property Features for 272 Nichols Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Basement, Bedroom 3, Bedroom 4, Bathroom 3, Bedroom 2, Bathroom 4, Bathroom 1, Bedroom 5, Bedroom 1, Bathroom 2
Parking features
On Street
Elementary school
Ps 7 Abraham Lincoln
Middle school
Is 171 Abraham Lincoln
High school
Transit Tech Career And Tech Edu
Elementary school district
Brooklyn 19
Middle school district
Brooklyn 19
High school district
Brooklyn 19
Directions
Fulton Street to 272 Nichols Ave
Standard status
Active
APN
04150-0038
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1590
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1910
Number of units
2
Listing Agency:
Greene Realty Group
(860) 560-1006
Listed By:
Derek J. Greene · License #10371200613
(860) 560-1006
Added: Mar 3
Changed: Aug 20
Last Checked: Aug 29 at 1:06AM
MLS# 966974
Copyright © 2026 OneKey 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 two-level brick duplex contains 2,128 square feet of living space with five bedrooms and 3.5 bathrooms. Each residence has its own natural-gas heating system and individual hot water tank. A recently replaced roof incorporates solar panels, while newer windows and a front entry gate are additional improvements. The property does not have central air conditioning.
One unit is occupied by a state tenant, and the other is configured for additional rental use or owner occupancy. Public water and public sewer serve the property, with on-street parking available. Built in 1910, the duplex occupies a 0.0402-acre lot in Brooklyn, New York.
One unit is occupied by a state tenant, and the other is configured for additional rental use or owner occupancy. Public water and public sewer serve the property, with on-street parking available. Built in 1910, the duplex occupies a 0.0402-acre lot in Brooklyn, New York.
Key Highlights
- 2,128 square feet of living space with 5 bedrooms and 3.5 bathrooms
- Two‑story brick duplex with separate natural‑gas heating systems
- New roof with solar panels and newer windows
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
$54,627
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
6.59%
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%
$1,092,540
$1.1M
Cap Rate 7%
$780,386
$780.4K
Cap Rate 9%
$606,967
$607.0K
Market Conditions
NOI Build-Up for 2,128 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
$81.7K $38.40/SF
− Vacancy
−$3.7K −$1.73/SF
EGI
$78.0K $36.67/SF
− OpEx
−$23.4K −$11.00/SF
NOI
$54.6K $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%
$1,092,540
Cap Rate 7%
$780,386
Cap Rate 9%
$606,967
Alternative Uses
Best Use
Multifamily LT 5
$780.4K
$682.8K – $910.5K
NOI $54,627 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$694.9K
$608.0K – $810.7K
NOI $48,640 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,145 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,770
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-story layout with separate heating and hot water systems serving each residence.
Where is this duplex located?
The property is located at 272 Nichols Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $829,000.
What are key features of this property?
This property features: 2,128 square feet of living space with 5 bedrooms and 3.5 bathrooms; Two‑story brick duplex with separate natural‑gas heating systems; New roof with solar panels and newer windows
