Renovated Two-Family Attached
For Sale
$1,229,000
Pending
716 Desmond Ct, Brooklyn, NY 11235
Two fully renovated units with modern kitchens, new systems, and split HVAC, including a deck and fenced backyard access.
Property Size1,728 SF
Days on Market135
Property Features for 716 Desmond Ct
General Information
Standard status
Pending
Size
1,728 SF
Property subtype
Multi Family
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Building Details
Building Size
1,728 SF
Listing Agency:
Golden Real Corp.
Listed By:
Olena Bukhanov · License #OB4151
(718) 891-8882
Source:
Elliman
Added: Apr 28
Changed: Sep 5
Last Checked: Sep 8 at 6:55AM
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 Golden Real Corp.
Investment Insights
Based on property information with market context.
This fully renovated two-family attached townhouse offers two separate living spaces. On the first floor, a large studio apartment is effectively configured as a one-bedroom with a full kitchen and bathroom. The second floor features a duplex layout with three bedrooms and 1.5 bathrooms, along with a spacious living area, a modern kitchen, and a large deck with access to a fenced backyard.
The property was completely renovated approximately one year ago and includes a brand new electrical system, new plumbing throughout, and new gas lines. Split-system heating and air conditioning provides heating and cooling to support year-round comfort.
The first-floor unit is tenant occupied until March 12, with the second-floor arrangement offering a separate upper duplex configuration. WalkScore 94 and transitScore 97 indicate a highly walkable and transit-friendly setting, with bikeScore 72 supporting practical cycling access.
The property was completely renovated approximately one year ago and includes a brand new electrical system, new plumbing throughout, and new gas lines. Split-system heating and air conditioning provides heating and cooling to support year-round comfort.
The first-floor unit is tenant occupied until March 12, with the second-floor arrangement offering a separate upper duplex configuration. WalkScore 94 and transitScore 97 indicate a highly walkable and transit-friendly setting, with bikeScore 72 supporting practical cycling access.
Key Highlights
- Fully renovated two‑family attached townhouse in Sheepshead Bay on a quiet residential block
- First floor: large studio layout used as a 1‑bedroom with full kitchen and bathroom (tenant occupied until March 12)
- Second floor duplex: 3 bedrooms, 1.5 bathrooms with spacious living area and modern kitchen
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
$60,517
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
4.92%
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%
$1,210,340
$1.2M
Cap Rate 7%
$864,529
$864.5K
Cap Rate 9%
$672,411
$672.4K
Market Conditions
NOI Build-Up for 1,728 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
$88.1K $51.00/SF
− Vacancy
−$1.7K −$0.97/SF
EGI
$86.5K $50.03/SF
− OpEx
−$25.9K −$15.01/SF
NOI
$60.5K $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%
$1,210,340
Cap Rate 7%
$864,529
Cap Rate 9%
$672,411
Alternative Uses
Best Use
Multifamily LT 5
$864.5K
$756.5K – $1.01M
NOI $60,517 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$753.6K
$659.4K – $879.2K
NOI $52,754 @ 7.0% cap · market cap 4.29%
Theoretical Best
Specialty Retail
$1.43M
$1.25M – $1.67M
NOI $100,155 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
5,411
Businesses Nearby
Explore this area
Business Placement
Demographics for 11235, NY
88,482
Population
37,188
Households
2.4
Avg Household Size
44
Median Age
50%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
35,393
Density / Sq Mi
$61,689
Median Household Income
$48,898
Median Earnings
$1,649
Median Rent
$723,900
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two fully renovated units with modern kitchens, new systems, and split HVAC, including a deck and fenced backyard access.
Where is this duplex located?
The property is located at 716 Desmond Ct Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,229,000.
What are key features of this property?
This property features: Fully renovated two‑family attached townhouse in Sheepshead Bay on a quiet residential block; First floor: large studio layout used as a 1‑bedroom with full kitchen and bathroom (tenant occupied until March 12); Second floor duplex: 3 bedrooms, 1.5 bathrooms with spacious living area and modern kitchen
