Renovated Two-Family
For Sale
$1,899,000
275 East 9th Street, Brooklyn, NY 11218
Turnkey two-bedroom over two-bedroom with a finished basement, separate entrance, and private two-car off-street parking.
Property Size1,880 SF
Days on Market92
Property Features for 275 East 9th Street
General Information
Standard status
Active
Size
1,880 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Building Size
1,880 SF
Year Built
1901
Stories
2
Tenancy
Multi
Listing Agency:
Re/Max Edge
Listed By:
Daniel P. Gallogly
(718) 612-3088
Source:
Michaelfraulo
Added: Jun 10
Changed: Sep 8
Last Checked: Sep 8 at 8:12AM
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 Re/Max Edge
Investment Insights
Based on property information with market context.
This beautifully renovated two-family duplex is configured as a two-bedroom unit over a two-bedroom unit, with modern updates throughout. The property is fully updated and presented in move-in condition, with stylish fixtures and a functional layout designed for day-to-day living. A full finished basement adds additional flexible space, including a kitchen and extra rooms that can support a home office, extended living, or other uses. The basement also features a separate entrance, improving privacy and accessibility.
Located at 275 E 9th St in Brooklyn’s Kensington area, the property benefits from a walkable, transit-friendly setting, with excellent walk and transit scores reported for the area. The description notes that it is minutes from Prospect Park and provides an efficient commute to Manhattan. Nearby residents can access local parks, shopping, dining, and public transportation options.
As a for-sale multifamily asset, this duplex can fit multiple ownership goals, whether you’re seeking a primary residence with rental income or looking for a stand-alone investment property. The private two-car driveway provides off-street parking convenience, a practical feature for tenants and owners alike. With a versatile basement and separate entry, the property also offers adaptability for changing household needs.
Located at 275 E 9th St in Brooklyn’s Kensington area, the property benefits from a walkable, transit-friendly setting, with excellent walk and transit scores reported for the area. The description notes that it is minutes from Prospect Park and provides an efficient commute to Manhattan. Nearby residents can access local parks, shopping, dining, and public transportation options.
As a for-sale multifamily asset, this duplex can fit multiple ownership goals, whether you’re seeking a primary residence with rental income or looking for a stand-alone investment property. The private two-car driveway provides off-street parking convenience, a practical feature for tenants and owners alike. With a versatile basement and separate entry, the property also offers adaptability for changing household needs.
Key Highlights
- Renovated two‑family home (two‑bedroom over two‑bedroom) with versatile layout
- Full finished basement includes a kitchen and flexible space with a separate entrance
- Private driveway provides off‑street parking for 2 cars
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
$65,841
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
3.47%
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%
$1,316,820
$1.3M
Cap Rate 7%
$940,586
$940.6K
Cap Rate 9%
$731,567
$731.6K
Market Conditions
NOI Build-Up for 1,880 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
$95.9K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$94.1K $50.03/SF
− OpEx
−$28.2K −$15.01/SF
NOI
$65.8K $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%
$1,316,820
Cap Rate 7%
$940,586
Cap Rate 9%
$731,567
Alternative Uses
Best Use
Multifamily LT 5
$940.6K
$823.0K – $1.10M
NOI $65,841 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$819.9K
$717.4K – $956.6K
NOI $57,394 @ 7.0% cap · market cap 3.02%
Theoretical Best
Specialty Retail
$1.56M
$1.36M – $1.82M
NOI $108,965 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,648
Businesses Nearby
Explore this area
Business Placement
Demographics for 11218, NY
78,642
Population
27,403
Households
2.9
Avg Household Size
35
Median Age
51%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
56,173
Density / Sq Mi
$95,916
Median Household Income
$55,190
Median Earnings
$1,966
Median Rent
$914,300
Median Home Value
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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 - Turnkey two-bedroom over two-bedroom with a finished basement, separate entrance, and private two-car off-street parking.
Where is this duplex located?
The property is located at 275 East 9th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: Renovated two‑family home (two‑bedroom over two‑bedroom) with versatile layout; Full finished basement includes a kitchen and flexible space with a separate entrance; Private driveway provides off‑street parking for 2 cars
