Income-Producing Brick Duplex in
272 Nichols Avenue, Brooklyn, NY 11208
- Added:
- Mar 3, 2026
- Days on Market:
- 75
- Last Refresh:
- May 17 at 10:06 pm
Property Features for 272 Nichols Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 4
- Rooms
- Bathroom 4, Basement, Bathroom 3, Bathroom 1, Bedroom 3, Bedroom 5, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 1
- Parking features
- On Street
- Standard status
- Pending
- APN
- 04150-0038
- Size
- 2,128 SF
- 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 agent Derek J. Greene License #SBR004802 (860) 560-1006
Listing office Greene Realty Group 4 Field Way, Worcester, NY (860) 560-1006
Listing date Mar 3, 2026
MLS# 966974
Listing URL
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.
HighLights
- Income‑producing duplex with one unit currently rented by the state, providing immediate rental income.
- Value‑add potential with the second unit offering opportunity for additional income or owner‑occupancy.
- New roof with solar panels for added efficiency.
- Well‑maintained solid brick construction with newer windows.
- Separate gas heating systems and hot water tanks for each unit.
- New front entrance gate enhancing curb appeal and security.
Overview
This well-maintained, two-story brick duplex is located in Brooklyn, NY. The property offers 2,128 square feet of living space, featuring a total of 5 bedrooms and 3.5 baths. The duplex consists of two units, one of which is currently rented, providing immediate rental income. The second unit presents an opportunity for additional income or owner-occupancy. The property is equipped with town water and town sewer services. Each unit has its own separate gas heating system and individual hot water tanks. Recent updates include a new roof with solar panels for added efficiency, newer windows, and a new front entrance gate. Street parking is available. This property offers value-add potential for investors seeking steady income or buyers looking to live in one unit while renting the other.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$607.0K
NOI $54,627 @ 9.00% cap · cautious / downside scenario
Moderate
$780.4K
NOI $54,627 @ 7.00% cap · market / base-case scenario
Aggressive
$1.09M
NOI $54,627 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $81.7k | $38.40 |
| − Vacancy | −$3.7k | −$1.73 |
| EGI | $78.0k | $36.67 |
| − OpEx | −$23.4k | −$11.00 |
| NOI | $54.6k | $25.67 |
2,128 SF · lease $38.40/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$780.4K
$682.8K – $910.5K
NOI $54,627 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$694.9K
$608.0K – $810.7K
NOI $48,640 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,145 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.868805
- Latitude
- 40.683884
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Well-maintained duplex with income potential and recent upgrades.
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 $899,000.
What are key features of this property?
This property features: Income‑producing duplex with one unit currently rented by the state, providing immediate rental income.; Value‑add potential with the second unit offering opportunity for additional income or owner‑occupancy.; New roof with solar panels for added efficiency.
