Brick Duplex
For Sale
$1,300,000
690A Lexington Avenue, Brooklyn, NY 11221
MULTI_FAMILY - Brooklyn, NY
Property Size2,820 SF
Lot Size0.05 Acres
Price / SF$460.99
Days on Market191
Property Features for 690A Lexington Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6B
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 4, Bedroom 2, Bedroom 5, Bedroom 3, Bathroom 2
Interior features
Refrigerator, Stove
Basement
Finished, Full
Subdivision
Bedford Stuyvesant
Standard status
Active
Size
2,820 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
8300
Building Details
Year built
2002
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Bao Yan (Serena) Ma
(718) 838-2600
Added: Feb 24
Changed: Aug 4
Last Checked: Sep 3 at 7:06PM
MLS# 499136
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.
Well-kept two-family brick residence with a flat roof, built in 2002, on a 0.0459-acre lot. The building is described as 20*47, on a 20*100 lot, and includes community driveway parking for 2 cars.
The property is configured as a duplex with a unit offering 3 bedrooms and 2 3/4 baths, plus a second apartment with 2 bedrooms and 1 full bath. Interior finishes include tile and hardwood flooring. Interior features noted include a refrigerator and stove.
Zoned R6B, this property provides a straightforward two-unit setup for either an owner-occupant or an investor looking for a maintained duplex in Brooklyn.
The property is configured as a duplex with a unit offering 3 bedrooms and 2 3/4 baths, plus a second apartment with 2 bedrooms and 1 full bath. Interior finishes include tile and hardwood flooring. Interior features noted include a refrigerator and stove.
Zoned R6B, this property provides a straightforward two-unit setup for either an owner-occupant or an investor looking for a maintained duplex in Brooklyn.
Key Highlights
- 0.0459‑acre lot with 2047 building size on a 20100 lot
- Community driveway parking for 2 cars
- Unit mix: 3 bedrooms / 2 3/4 baths plus 2 bedrooms / 1 full bath
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
$98,761
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
7.60%
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%
$1,975,220
$2.0M
Cap Rate 7%
$1,410,871
$1.4M
Cap Rate 9%
$1,097,344
$1.1M
Market Conditions
NOI Build-Up for 2,820 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
$143.8K $51.00/SF
− Vacancy
−$2.7K −$0.97/SF
EGI
$141.1K $50.03/SF
− OpEx
−$42.3K −$15.01/SF
NOI
$98.8K $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%
$1,975,220
Cap Rate 7%
$1,410,871
Cap Rate 9%
$1,097,344
Alternative Uses
Best Use
Multifamily LT 5
$1.41M
$1.23M – $1.65M
NOI $98,761 @ 7.0% cap · market cap 7.60%
Second Best
Apartment 5plus
$1.23M
$1.08M – $1.43M
NOI $86,092 @ 7.0% cap · market cap 6.62%
Theoretical Best
Specialty Retail
$2.33M
$2.04M – $2.72M
NOI $163,447 @ 7.0% cap · market cap 12.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,119
Businesses Nearby
Explore this area
Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Brick two-family home zoned R6B with community driveway parking and two separate apartments.
Where is this duplex located?
The property is located at 690A Lexington Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 0.0459‑acre lot with 20*47 building size on a 20*100 lot; Community driveway parking for 2 cars; Unit mix: 3 bedrooms / 2 3/4 baths plus 2 bedrooms / 1 full bath
