Brick Duplex with Two
For Sale
$1,690,000
489 E 3rd Street, Brooklyn, NY 11218
Residential, Brooklyn, NY
Property Size2,360 SF
Lot Size0.06 Acres
Price / SF$716.10
Days on Market48
Property Features for 489 E 3rd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 5, Bedroom 3
Parking features
Garage - Detached
Interior features
A/C Unit - Window, Refrigerator, Stove
Basement
Full, Finished
Subdivision
Kensington
Standard status
Active
Size
2,360 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
9002
Amenities
front sunroom
second-floor balcony
Building Details
Year built
1925
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Renzhang Danny Dong · License #RD7348
(929) 291-9897
Added: Aug 26
Changed: Oct 10
Last Checked: Oct 12 at 6:06PM
MLS# 504046
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.
Built in 1925, this semi-attached brick duplex contains 2,360 square feet across two apartments. The lower residence has two bedrooms, a living room, eat-in kitchen, full bathroom, and front sunroom. Upstairs, the three-bedroom apartment includes a full bathroom and front balcony. Hardwood and tile flooring, window A/C units, a refrigerator, and a stove are among the interior features. The property also includes a detached two-car garage and a shared driveway approximately 12 feet wide.
The home is located at 489 E 3rd Street in Brooklyn’s Kensington neighborhood, near markets, restaurants, cafes, schools, parks, and public transportation. F train stations at Ditmas Avenue and Church Avenue provide service to Manhattan and other Brooklyn destinations. The property occupies approximately 0.0597 acres.
The home is located at 489 E 3rd Street in Brooklyn’s Kensington neighborhood, near markets, restaurants, cafes, schools, parks, and public transportation. F train stations at Ditmas Avenue and Church Avenue provide service to Manhattan and other Brooklyn destinations. The property occupies approximately 0.0597 acres.
Key Highlights
- Two‑apartment duplex with a 2‑bedroom lower unit and 3‑bedroom upper unit
- 2,360 square feet on approximately 0.0597 acres
- Detached 2‑car garage and shared driveway approximately 12 feet wide
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,651
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,653,020
$1.7M
Cap Rate 7%
$1,180,729
$1.2M
Cap Rate 9%
$918,344
$918.3K
Market Conditions
NOI Build-Up for 2,360 SF
Gross rent
$120.4K $51.00/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$118.1K $50.03/SF
− OpEx
−$35.4K −$15.01/SF
NOI
$82.7K $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 Rate 5%
$1,653,020
Cap Rate 7%
$1,180,729
Cap Rate 9%
$918,344
Alternative Uses
Best Use
Multifamily LT 5
$1.18M
$1.03M – $1.38M
NOI $82,651 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$1.03M
$900.6K – $1.20M
NOI $72,048 @ 7.0% cap · market cap 4.26%
Theoretical Best
Specialty Retail
$1.95M
$1.71M – $2.28M
NOI $136,786 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,413
Businesses Nearby
Explore this area
Business Placement
Demographics for 11218, NY
78,642
Population
27,403
Households
2.9
Avg Household Size
35
Median Age
51%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
56,173
Density / Sq Mi
$95,916
Median Household Income
$55,190
Median Earnings
$1,966
Median Rent
$914,300
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 - Five-bedroom layout with a detached garage, balcony, sunroom, and shared driveway.
Where is this duplex located?
The property is located at 489 E 3rd Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: Two‑apartment duplex with a 2‑bedroom lower unit and 3‑bedroom upper unit; 2,360 square feet on approximately 0.0597 acres; Detached 2‑car garage and shared driveway approximately 12 feet wide
