Two-Family Duplex with
New
For Sale
$1,595,000
419 18th Street, Brooklyn, NY 11215
Legally configured for two families, the residence is currently arranged as a single-family home with three bedrooms and two bathrooms.
Property Size2,096 SF
Price / SF$760.97
Days on Market4
Property Features for 419 18th Street
General Information
Standard status
Active
Size
2,096 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$4,308
Building Details
Building Size
2,096 SF
Listing Agency:
Corcoran Group
Listed By:
Michele Silverman · License #10401245983
(917) 554-4488
Source:
Howardhannanyc
Added: Sep 28
Changed: Sep 30
Last Checked: Sep 30 at 12:04PM
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 Corcoran Group
Investment Insights
Based on property information with market context.
This 2,096-square-foot duplex is a legal two-family property currently arranged as a one-family residence. The main level has an open living and dining area, an eat-in kitchen, a flexible room, and a full bathroom. Three bedrooms and a second full bathroom occupy the upper floor. Outdoor areas include a front yard, side yard, and a 31-foot-deep backyard, with a secondary street entrance along the side of the property.
The basement has laundry and approximately 500 additional square feet with seven-foot ceilings. A stand-up attic adds approximately 270 square feet, with a window and vaulted ceilings. Recent updates include the roof, boiler, and hot water heater.
The property is near F, G, and R subway service, bus routes, and Citi Bike stations. Butterfly Gardens is nearby, and Prospect Park and Greenwood Cemetery are a short walk away. The Wednesday year-round Greenmarket at Bartel-Pritchard Square and P.S. 10 are also in the surrounding area.
The basement has laundry and approximately 500 additional square feet with seven-foot ceilings. A stand-up attic adds approximately 270 square feet, with a window and vaulted ceilings. Recent updates include the roof, boiler, and hot water heater.
The property is near F, G, and R subway service, bus routes, and Citi Bike stations. Butterfly Gardens is nearby, and Prospect Park and Greenwood Cemetery are a short walk away. The Wednesday year-round Greenmarket at Bartel-Pritchard Square and P.S. 10 are also in the surrounding area.
Key Highlights
- Legal two‑family property currently configured as a one‑family residence
- 2,096 square feet with three bedrooms and two full bathrooms
- 31‑foot‑deep backyard, plus front and side yards
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
$73,405
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
4.60%
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%
$1,468,100
$1.5M
Cap Rate 7%
$1,048,643
$1.0M
Cap Rate 9%
$815,611
$815.6K
Market Conditions
NOI Build-Up for 2,096 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
$106.9K $51.00/SF
− Vacancy
−$2.0K −$0.97/SF
EGI
$104.9K $50.03/SF
− OpEx
−$31.5K −$15.01/SF
NOI
$73.4K $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%
$1,468,100
Cap Rate 7%
$1,048,643
Cap Rate 9%
$815,611
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$917.6K – $1.22M
NOI $73,405 @ 7.0% cap · market cap 4.60%
Second Best
Apartment 5plus
$914.1K
$799.9K – $1.07M
NOI $63,989 @ 7.0% cap · market cap 4.01%
Theoretical Best
Specialty Retail
$1.74M
$1.52M – $2.02M
NOI $121,484 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,546
Businesses Nearby
Explore this area
Business Placement
Demographics for 11215, NY
67,493
Population
32,197
Households
2.1
Avg Household Size
37
Median Age
80%
College-Educated
96%
High-School Grad
2.2 sq mi
ZIP Area
30,679
Density / Sq Mi
$180,773
Median Household Income
$99,151
Median Earnings
$2,803
Median Rent
$1,674,700
Median Home Value
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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 - Legally configured for two families, the residence is currently arranged as a single-family home with three bedrooms and two bathrooms.
Where is this duplex located?
The property is located at 419 18th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Legal two‑family property currently configured as a one‑family residence; 2,096 square feet with three bedrooms and two full bathrooms; 31‑foot‑deep backyard, plus front and side yards
