Duplex Residential Income Property with
For Sale
$1,450,000
41 PUTNAM Avenue 1, Brooklyn, NY 11238
Two-level home with private outdoor space, flexible lower-level living area, and access to Clinton Hill amenities.
Property Size1,424 SF
Price / SF$1,018
Days on Market9
Property Features for 41 PUTNAM Avenue 1
General Information
Standard status
Active
Size
1,424 SF
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
private garden
recreation room
video intercom system
washer and dryer
central boiler heat
Building Details
Building Size
1,424 SF
Year Built
1930
Listing Agency:
Douglas Elliman Real Estate
(917) 704-3102
Listed By:
Alexander F Maroni · License #10301201619
(917) 704-3102
Source:
Carlinwright
Added: Aug 6
Changed: Aug 12
Last Checked: Aug 14 at 12:06PM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This duplex residential income property offers 1,424 square feet across two levels, with two bedrooms, two bathrooms, and a private garden. Hardwood flooring extends throughout the home. The kitchen includes a built-in refrigerator, dishwasher, KitchenAid electric range, custom hardwood cabinetry, quartz countertops, and a marble mosaic backsplash. Both bedrooms open directly to the garden, while the primary suite includes a walk-in closet and en suite bathroom. A recreation room on the lower level adds flexible interior space for additional living, office, gym, or studio use. Central boiler heat, video intercom service, and a full-size washer and dryer are also included.
The property is located at 41 Putnam Avenue in Brooklyn’s Clinton Hill neighborhood, near the Fulton Street corridor, Franklin Avenue subway access, pocket parks, Fort Greene Park, and Prospect Park. The building dates to 1930, and the offering plan is identified as File No. CD25-0166.
The property is located at 41 Putnam Avenue in Brooklyn’s Clinton Hill neighborhood, near the Fulton Street corridor, Franklin Avenue subway access, pocket parks, Fort Greene Park, and Prospect Park. The building dates to 1930, and the offering plan is identified as File No. CD25-0166.
Key Highlights
- Duplex layout with 1,424 square feet of interior space
- Two bedrooms and two bathrooms
- Private garden accessible from both bedrooms
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
$43,473
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
3.00%
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%
$869,460
$869.5K
Cap Rate 7%
$621,043
$621.0K
Cap Rate 9%
$483,033
$483.0K
Market Conditions
NOI Build-Up for 1,424 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
$80.7K $56.64/SF
− Vacancy
−$1.6K −$1.13/SF
EGI
$79.0K $55.51/SF
− OpEx
−$35.6K −$24.98/SF
NOI
$43.5K $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 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%
$869,460
Cap Rate 7%
$621,043
Cap Rate 9%
$483,033
Alternative Uses
Best Use
Apartment 5plus
$621.0K
$543.4K – $724.6K
NOI $43,473 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.18M
$1.03M – $1.38M
NOI $82,535 @ 7.0% cap · market cap 5.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
6,107
Businesses Nearby
Explore this area
Business Placement
Demographics for 11238, NY
60,090
Population
29,588
Households
2
Avg Household Size
35
Median Age
71%
College-Educated
93%
High-School Grad
1.8 sq mi
ZIP Area
33,383
Density / Sq Mi
$132,957
Median Household Income
$85,179
Median Earnings
$2,511
Median Rent
$1,146,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level home with private outdoor space, flexible lower-level living area, and access to Clinton Hill amenities.
Where is this residential income property located?
The property is located at 41 PUTNAM Avenue 1 Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Duplex layout with 1,424 square feet of interior space; Two bedrooms and two bathrooms; Private garden accessible from both bedrooms
