Two-Family House in Ocean
For Sale
$819,000
Pending
284 Macdougal St, Brooklyn, NY 11233
Two-family house in Ocean Hill, near Bushwick, delivered vacant.
Property Size1,400 SF
Lot Size0.03 Acres
Days on Market285
Property Features for 284 Macdougal St
General Information
Standard status
Pending
Size
1,400 SF
Lot size
0.03 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$2,008
Building Details
Building Size
1,400 SF
Year Built
1899
Stories
2
Listed By:
Michael Feldman
(718) 749-9409
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 24
Last Checked: Sep 8 at 8:16AM
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 Michael Feldman
Investment Insights
Based on property information with market context.
This two-family house, delivered vacant, presents an investment opportunity in Ocean Hill, Brooklyn, situated a minute away from Bushwick. The property allows for options such as living in one unit and renting the other, or renting out both units as a complete investment. The top floor features a 2-bedroom, 1-bath layout. The main floor includes a 1-bedroom plus office space and 1 bath, with access to the backyard. The property also includes interior and exterior stairs to the finished basement. It is equipped with separate boilers and hot water tanks. Some decorative fireplaces and hardwood floors are present. The location is near eateries, shops, and local trains C, J, Z, and L.
Key Highlights
- Vacant 2‑family house: Ideal for immediate occupancy or rental.
- Prime location in Ocean Hill, near Bushwick, with convenient access to eateries, shops, and transportation.
- Income potential: Live in one unit and rent the other, or rent out both for maximum investment return.
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
$49,030
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
5.99%
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%
$980,600
$980.6K
Cap Rate 7%
$700,429
$700.4K
Cap Rate 9%
$544,778
$544.8K
Market Conditions
NOI Build-Up for 1,400 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
$71.4K $51.00/SF
− Vacancy
−$1.4K −$0.97/SF
EGI
$70.0K $50.03/SF
− OpEx
−$21.0K −$15.01/SF
NOI
$49.0K $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 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%
$980,600
Cap Rate 7%
$700,429
Cap Rate 9%
$544,778
Alternative Uses
Best Use
Multifamily LT 5
$700.4K
$612.9K – $817.2K
NOI $49,030 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$610.6K
$534.3K – $712.4K
NOI $42,741 @ 7.0% cap · market cap 5.22%
Theoretical Best
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $81,144 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,685
Businesses Nearby
Explore this area
Business Placement
Demographics for 11233, NY
75,399
Population
34,412
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
57,999
Density / Sq Mi
$62,034
Median Household Income
$47,149
Median Earnings
$1,613
Median Rent
$1,013,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family house in Ocean Hill, near Bushwick, delivered vacant.
Where is this duplex located?
The property is located at 284 Macdougal St Brooklyn, NY.
What is the asking price?
The asking price for this property is $819,000.
What are key features of this property?
This property features: Vacant 2‑family house: Ideal for immediate occupancy or rental.; Prime location in Ocean Hill, near Bushwick, with convenient access to eateries, shops, and transportation.; Income potential: Live in one unit and rent the other, or rent out both for maximum investment return.
