Brick Duplex with Separate
New
For Sale
$1,198,000
4115 Manhattan Avenue, Brooklyn, NY 11224
Residential Income, Brooklyn, NY
Property Size2,200 SF
Lot Size0.07 Acres
Price / SF$544.55
Days on Market2
Property Features for 4115 Manhattan Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
Driveway
Interior features
First Floor Bedroom, First Floor Full Bath, Primary Bathroom, Master Downstairs
Basement
Full, Walk-Out Access, Unfinished
Elementary school
Ps 188 Michael E Berdy
Middle school
Mark Twain Is 239-Gifted & Talented
High school
Rachel Carson Hs For Coastal Studies
Elementary school district
Brooklyn 21
Middle school district
Brooklyn 21
High school district
Brooklyn 21
Standard status
Active
APN
06975-0008
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8295
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Steam
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
parquet flooring
full unfinished basement
off-street parking
gas heating
gated community
Building Details
Year built
1910
Number of units
2
Building materials
Brick
Listing Agency:
Empire State Realty Group NY
(347) 462-9500
Listed By:
Waqas Azhar
(347) 791-5872
Added: Sep 22
Changed: Sep 23
Last Checked: Sep 23 at 9:06AM
MLS# 1054057
Copyright © 2026 OneKey MLS. 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 brick duplex at 4115 Manhattan Avenue includes approximately 2,200 square feet of living space on a 3,080-square-foot lot. The first-floor residence has two bedrooms plus an additional room, while the second-floor unit provides two bedrooms and a separate side entrance. Both units include living rooms, dining areas, and kitchens. Parquet flooring appears throughout much of the home, and a full unfinished basement with exterior access adds approximately 2,200 square feet of flexible space. Steam heating, public water, public sewer, and natural gas service are present. A shared driveway provides off-street parking. Built in 1910, the property is located in Sea Gate, a gated waterfront community near the beach, with Coney Island beaches and boardwalk, shopping, dining, schools, and transportation nearby.
Key Highlights
- Two‑family brick residence with approximately 2,200 square feet of living space
- 3,080‑square‑foot lot with shared driveway and off‑street parking
- Separate side entrance serves the second‑floor two‑bedroom unit
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
$77,048
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
6.43%
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%
$1,540,960
$1.5M
Cap Rate 7%
$1,100,686
$1.1M
Cap Rate 9%
$856,089
$856.1K
Market Conditions
NOI Build-Up for 2,200 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
$112.2K $51.00/SF
− Vacancy
−$2.1K −$0.97/SF
EGI
$110.1K $50.03/SF
− OpEx
−$33.0K −$15.01/SF
NOI
$77.0K $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%
$1,540,960
Cap Rate 7%
$1,100,686
Cap Rate 9%
$856,089
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$963.1K – $1.28M
NOI $77,048 @ 7.0% cap · market cap 6.43%
Second Best
Apartment 5plus
$959.5K
$839.6K – $1.12M
NOI $67,164 @ 7.0% cap · market cap 5.61%
Theoretical Best
Specialty Retail
$1.82M
$1.59M – $2.13M
NOI $127,512 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
364
Businesses Nearby
Explore this area
Business Placement
Demographics for 11224, NY
46,019
Population
21,354
Households
2.2
Avg Household Size
46
Median Age
33%
College-Educated
82%
High-School Grad
1.6 sq mi
ZIP Area
28,762
Density / Sq Mi
$41,449
Median Household Income
$41,233
Median Earnings
$905
Median Rent
$512,900
Median Home Value
Check the figures for this property
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 - Two-family Brooklyn residence with flexible rooms, basement storage, shared driveway parking, and access to a gated waterfront community.
Where is this duplex located?
The property is located at 4115 Manhattan Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,198,000.
What are key features of this property?
This property features: Two‑family brick residence with approximately 2,200 square feet of living space; 3,080‑square‑foot lot with shared driveway and off‑street parking; Separate side entrance serves the second‑floor two‑bedroom unit
