Detached Duplex with Private
For Sale
$729,999
8 Lester Court, Brooklyn, NY 11229
Residential, Duplex, Brooklyn, NY
Property Size1,880 SF
Lot Size0.04 Acres
Price / SF$388.30
Days on Market478
Property Features for 8 Lester Court
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R4
Bedrooms
4
Bathrooms
2
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 3
Interior features
A/C Unit - Wall, Dishwasher, Dryer, Laundry Area, Microwave, Refrigerator, Stove
Basement
Unfinished
Subdivision
Gerritsen Beach
Standard status
Active
Size
1,880 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
5171
Amenities
granite countertops
stainless steel appliances
washer and dryer
new boiler and water heater
brand-new fence
sunroom
private front and backyard
attic storage
Building Details
Year built
1920
Floors in Building
2
Flooring type
Hardwood, Linoleum
Building materials
Wood Frame, Masonry
Roof type
Asphalt
Architectural style
Other
Listing Agency:
RE/MAX Edge · RE/MAX International
Listed By:
Yu-Fen (Madeline) Chiu
(718) 612-3088
Added: Jun 5, 2025
Changed: Sep 20
Last Checked: Sep 25 at 3:06AM
MLS# 493141
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.
This 1,880-square-foot detached duplex at 8 Lester Court includes four bedrooms, two bathrooms, hardwood and linoleum flooring, and a first-floor living and dining area. The eat-in kitchen is equipped with granite countertops, stainless steel appliances, a dishwasher, microwave, refrigerator, and stove. A basement laundry area includes a washer and dryer, while a side entrance leads to a newly built sunroom. The property also has a new boiler, new water heater, attic storage, front and rear outdoor areas, and a private parking spot.
Built in 1920 on a 0.0413-acre corner lot, the property is zoned R4 and located in Brooklyn, NY 11229. Parks, schools, shopping, and public transportation are identified as nearby amenities. Wood frame and masonry construction, along with an asphalt roof, complete the physical profile.
Built in 1920 on a 0.0413-acre corner lot, the property is zoned R4 and located in Brooklyn, NY 11229. Parks, schools, shopping, and public transportation are identified as nearby amenities. Wood frame and masonry construction, along with an asphalt roof, complete the physical profile.
Key Highlights
- 1,880‑square‑foot detached duplex on a 0.0413‑acre corner lot
- Four bedrooms and two bathrooms
- R4 zoning in Brooklyn, NY 11229
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
$65,841
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
9.02%
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%
$1,316,820
$1.3M
Cap Rate 7%
$940,586
$940.6K
Cap Rate 9%
$731,567
$731.6K
Market Conditions
NOI Build-Up for 1,880 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
$95.9K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$94.1K $50.03/SF
− OpEx
−$28.2K −$15.01/SF
NOI
$65.8K $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%
$1,316,820
Cap Rate 7%
$940,586
Cap Rate 9%
$731,567
Alternative Uses
Best Use
Multifamily LT 5
$940.6K
$823.0K – $1.10M
NOI $65,841 @ 7.0% cap · market cap 9.02%
Second Best
Apartment 5plus
$819.9K
$717.4K – $956.6K
NOI $57,394 @ 7.0% cap · market cap 7.86%
Theoretical Best
Specialty Retail
$1.56M
$1.36M – $1.82M
NOI $108,965 @ 7.0% cap · market cap 14.93%
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
523
Businesses Nearby
Explore this area
Business Placement
Demographics for 11229, NY
83,669
Population
33,353
Households
2.5
Avg Household Size
40
Median Age
41%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
41,835
Density / Sq Mi
$72,556
Median Household Income
$52,948
Median Earnings
$1,666
Median Rent
$812,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - R4-zoned duplex with separate outdoor areas, updated systems, and a private parking spot.
Where is this duplex located?
The property is located at 8 Lester Court Brooklyn, NY.
What is the asking price?
The asking price for this property is $729,999.
What are key features of this property?
This property features: 1,880‑square‑foot detached duplex on a 0.0413‑acre corner lot; Four bedrooms and two bathrooms; R4 zoning in Brooklyn, NY 11229
