Brick
For Sale
$769,000
693 E 38th Street, Brooklyn, NY 11203
Residential, Duplex, Brooklyn, NY
Property Size1,881 SF
Lot Size0.04 Acres
Price / SF$408.83
Days on Market97
Property Features for 693 E 38th Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R4
Bedrooms
3
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3
Patio and Porch features
Porch
Interior features
Garage Door Opener(s), Laundry Area, Microwave, Porch, Refrigerator, Stove, Washer
Basement
Finished, Full
Subdivision
East Flatbush
Standard status
Active
Size
1,881 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
6318
Building Details
Year built
1940
Flooring type
Hardwood, Ceramic
Building materials
Brick
Architectural style
Other
Listing Agency:
Welchs Int'nl Realty Group Inc
Listed By:
Everton Welch
(347) 880-3680
Added: Jul 23
Changed: Oct 23
Last Checked: Oct 27 at 5:06AM
MLS# 503265
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.
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Investment Insights
Based on property information with market context.
This brick duplex was built in 1940 and contains 1,881 square feet on a 0.0371-acre lot. The interior includes three bedrooms and one bathroom, with hardwood and ceramic flooring throughout. A porch, laundry area, washer, refrigerator, stove, microwave, and garage door opener are included among the property features.
Located at 693 E 38th Street in Brooklyn, the property carries R4 zoning and is identified within Kings County. The residential layout and existing household features provide a practical foundation for an income-property offering.
Located at 693 E 38th Street in Brooklyn, the property carries R4 zoning and is identified within Kings County. The residential layout and existing household features provide a practical foundation for an income-property offering.
Key Highlights
- 1,881 square feet on a 0.0371‑acre lot
- R4 zoning in Brooklyn, NY
- Brick construction dating to 1940
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,876
Cap Rate
8.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,317,520
$1.3M
Cap Rate 7%
$941,086
$941.1K
Cap Rate 9%
$731,956
$732.0K
Market Conditions
NOI Build-Up for 1,881 SF
Gross rent
$95.9K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$94.1K $50.03/SF
− OpEx
−$28.2K −$15.01/SF
NOI
$65.9K $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%
$1,317,520
Cap Rate 7%
$941,086
Cap Rate 9%
$731,956
Alternative Uses
Best Use
Multifamily LT 5
$941.1K
$823.5K – $1.10M
NOI $65,876 @ 7.0% cap · market cap 8.57%
Second Best
Apartment 5plus
$820.4K
$717.8K – $957.1K
NOI $57,425 @ 7.0% cap · market cap 7.47%
Theoretical Best
Specialty Retail
$1.56M
$1.36M – $1.82M
NOI $109,023 @ 7.0% cap · market cap 14.18%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
3,167
Businesses Nearby
Explore this area
Business Placement
Demographics for 11203, NY
81,824
Population
33,434
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
38,964
Density / Sq Mi
$68,028
Median Household Income
$47,302
Median Earnings
$1,566
Median Rent
$677,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - R4-zoned duplex with a porch, laundry area, and household appliances.
Where is this duplex located?
The property is located at 693 E 38th Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $769,000.
What are key features of this property?
This property features: 1,881 square feet on a 0.0371‑acre lot; R4 zoning in Brooklyn, NY; Brick construction dating to 1940
