Duplex Residential Property with Private
New
For Sale
$1,250,000
366 GATES Avenue 1B, Brooklyn, NY 11216
A legal one-bedroom layout includes a lower-level office, separate entrance, and full bath.
Property Size1,174 SF
Price / SF$1,064
Days on Market6
Property Features for 366 GATES Avenue 1B
General Information
Standard status
Active
Size
1,174 SF
Property subtype
Duplex
Units
Unit Mix
1 x 1BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$11,484
Amenities
private backyard
radiant-heated floors
in-unit washer/dryer
video intercom
integrated surround sound
shared roof deck
Building Details
Building Size
1,174 SF
Year Built
2017
Listing Agency:
The Agency Brokerage
Listed By:
Ashlie Roberson
(256) 394-5609
Source:
Nilelundgren
Added: Oct 21
Changed: Oct 25
Last Checked: Oct 25 at 12:13AM
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 The Agency Brokerage
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Investment Insights
Based on property information with market context.
This 1,174-square-foot duplex residence has a main-level bedroom and an office on the lower floor. The lower level also has a separate entrance and full bath, with room for additional living or work space. Interior features include white oak flooring, an open kitchen with a Bertazzoni range, Bosch dishwasher, and Blomberg refrigerator, plus central heating and cooling, a vented washer and dryer, and radiant-heated floors in both bathrooms.
A 1,225-square-foot private backyard extends from a bluestone terrace to a lawn. The home is part of an eight-unit condominium built in 2017, with shared access to a roof deck. It is situated between Bedford and Nostrand Avenues, near neighborhood restaurants, cafés, bars, shops, Citi Bike stations, the A/C express trains at Fulton Street, and the G train at Lafayette Avenue.
A 1,225-square-foot private backyard extends from a bluestone terrace to a lawn. The home is part of an eight-unit condominium built in 2017, with shared access to a roof deck. It is situated between Bedford and Nostrand Avenues, near neighborhood restaurants, cafés, bars, shops, Citi Bike stations, the A/C express trains at Fulton Street, and the G train at Lafayette Avenue.
Key Highlights
- 1,174‑square‑foot duplex with a legal one‑bedroom layout and lower‑level office
- Private 1,225‑square‑foot backyard with bluestone terrace and lawn
- Lower level has a separate entrance and full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,841
Cap Rate
2.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$716,820
$716.8K
Cap Rate 7%
$512,014
$512.0K
Cap Rate 9%
$398,233
$398.2K
Market Conditions
NOI Build-Up for 1,174 SF
Gross rent
$66.5K $56.64/SF
− Vacancy
−$1.3K −$1.13/SF
EGI
$65.2K $55.51/SF
− OpEx
−$29.3K −$24.98/SF
NOI
$35.8K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$716,820
Cap Rate 7%
$512,014
Cap Rate 9%
$398,233
Alternative Uses
Best Use
Apartment 5plus
$512.0K
$448.0K – $597.4K
NOI $35,841 @ 7.0% cap · market cap 2.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$972.1K
$850.6K – $1.13M
NOI $68,045 @ 7.0% cap · market cap 5.44%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,908
Businesses Nearby
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Business Placement
Demographics for 11216, NY
61,251
Population
28,825
Households
2.1
Avg Household Size
34
Median Age
56%
College-Educated
91%
High-School Grad
1.0 sq mi
ZIP Area
61,251
Density / Sq Mi
$95,000
Median Household Income
$61,389
Median Earnings
$2,180
Median Rent
$1,398,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - A legal one-bedroom layout includes a lower-level office, separate entrance, and full bath.
Where is this residential income property located?
The property is located at 366 GATES Avenue 1B Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 1,174‑square‑foot duplex with a legal one‑bedroom layout and lower‑level office; Private 1,225‑square‑foot backyard with bluestone terrace and lawn; Lower level has a separate entrance and full bath
