Brick Duplex with Finished
For Sale
$809,000
2963 Voorhies Avenue, Brooklyn, NY 11235
Residential, Duplex, Brooklyn, NY
Property Size1,833 SF
Lot Size0.03 Acres
Price / SF$441.35
Days on Market254
Property Features for 2963 Voorhies Avenue
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R3-2
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Rooms
Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 1
Patio and Porch features
Deck
Interior features
Central Air - Split, Deck, Dishwasher, Dryer, Laundry Area, Refrigerator, Stove, Terrace, Washer, Window Treatments
Basement
Finished, Full
Subdivision
Sheepshead Bay
Standard status
Active
Size
1,833 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
4955
Amenities
modern kitchen
stainless steel appliances
modern bathrooms
hardwood floors
crown molding
finished basement
separate entrance
washer/dryer
porch
skylights
Building Details
Year built
1920
Floors in Building
2
Flooring type
Hardwood, Ceramic, Granite
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
Superior Realty Service
(347) 554-8282
Listed By:
Diana Melerud · License #MELNA1282
(718) 921-3100
Added: Dec 27, 2025
Changed: Sep 5
Last Checked: Sep 7 at 5:06PM
MLS# 498030
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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 1,833-square-foot brick duplex, built in 1920, offers two bedrooms and two bathrooms with a range of recent interior improvements. The residence includes a modern kitchen with stainless steel appliances, updated hardwood flooring and doors, crown molding, ceramic and granite finishes, and a recently painted interior. A finished basement has tile-floor heating and its own entrance. Laundry equipment, split-system air conditioning and heating, radiator heat, skylights, and window treatments are also included.
Outdoor features include a rear deck and two carports. The property sits on a 0.0298-acre lot and is zoned R3-2. Stores, schools, and transportation are nearby, with access to buses serving the B and Q train routes. The Bay and beach are also described as close by.
Outdoor features include a rear deck and two carports. The property sits on a 0.0298-acre lot and is zoned R3-2. Stores, schools, and transportation are nearby, with access to buses serving the B and Q train routes. The Bay and beach are also described as close by.
Key Highlights
- 1,833‑square‑foot brick duplex on a 0.0298‑acre lot
- Finished basement with separate entrance and heating beneath tile floors
- Two bedrooms and two bathrooms
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
$64,195
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
7.94%
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%
$1,283,900
$1.3M
Cap Rate 7%
$917,071
$917.1K
Cap Rate 9%
$713,278
$713.3K
Market Conditions
NOI Build-Up for 1,833 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
$93.5K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$91.7K $50.03/SF
− OpEx
−$27.5K −$15.01/SF
NOI
$64.2K $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%
$1,283,900
Cap Rate 7%
$917,071
Cap Rate 9%
$713,278
Alternative Uses
Best Use
Multifamily LT 5
$917.1K
$802.4K – $1.07M
NOI $64,195 @ 7.0% cap · market cap 7.94%
Second Best
Apartment 5plus
$799.4K
$699.5K – $932.7K
NOI $55,960 @ 7.0% cap · market cap 6.92%
Theoretical Best
Specialty Retail
$1.52M
$1.33M – $1.77M
NOI $106,241 @ 7.0% cap · market cap 13.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,772
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
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 - Upgraded duplex with a separate-entry finished basement, rear deck, two carports, and multiple heating and cooling systems.
Where is this duplex located?
The property is located at 2963 Voorhies Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $809,000.
What are key features of this property?
This property features: 1,833‑square‑foot brick duplex on a 0.0298‑acre lot; Finished basement with separate entrance and heating beneath tile floors; Two bedrooms and two bathrooms
