Updated Two-Family
New
For Sale
$1,675,000
82 Kermit Pl, Brooklyn, NY 11218
Three-level duplex property with a private yard, driveway parking, and a separate basement entrance.
Property Size3,120 SF
Price / SF$536.86
Days on Market3
Property Features for 82 Kermit Pl
General Information
Standard status
Active
Size
3,120 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,952
Building Details
Building Size
3,120 SF
Year Built
1910
Buildings
1
Stories
2
Listing Agency:
RE/MAX Elite
(718) 690-3900
Listed By:
Gennadiy Zemel
(718) 690-3900
Source:
Elliman
Added: Aug 12
Changed: Aug 14
Last Checked: Aug 14 at 10:16AM
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 RE/MAX Elite
Investment Insights
Based on property information with market context.
This two-family townhouse spans approximately 3,120 square feet across three levels, with 9 bedrooms and 5 full bathrooms. Recent updates include hardwood flooring, renovated bathrooms, and a roof replaced in 2022. The upper floor contains four bedrooms and two bathrooms, while the first floor offers three bedrooms, two bathrooms, and access to a private rear yard. The basement adds two bedrooms, a kitchen, a full bathroom, and a separate entrance, along with space that can serve as a guest area.
Additional features include exposed brick details, abundant natural light, and a private driveway. The property is located at 82 Kermit Pl in Brooklyn, NY 11218, across from Prospect Park and near neighborhood cafés, restaurants, boutique shopping, and the F and G trains. WalkScore is 93, TransitScore is 95, and bikeScore is 81.
Additional features include exposed brick details, abundant natural light, and a private driveway. The property is located at 82 Kermit Pl in Brooklyn, NY 11218, across from Prospect Park and near neighborhood cafés, restaurants, boutique shopping, and the F and G trains. WalkScore is 93, TransitScore is 95, and bikeScore is 81.
Key Highlights
- Approximately 3,120 square feet across 3 levels
- 9 bedrooms and 5 full bathrooms
- Roof replaced in 2022
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
$109,268
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
6.52%
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%
$2,185,360
$2.2M
Cap Rate 7%
$1,560,971
$1.6M
Cap Rate 9%
$1,214,089
$1.2M
Market Conditions
NOI Build-Up for 3,120 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
$159.1K $51.00/SF
− Vacancy
−$3.0K −$0.97/SF
EGI
$156.1K $50.03/SF
− OpEx
−$46.8K −$15.01/SF
NOI
$109.3K $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%
$2,185,360
Cap Rate 7%
$1,560,971
Cap Rate 9%
$1,214,089
Alternative Uses
Best Use
Multifamily LT 5
$1.56M
$1.37M – $1.82M
NOI $109,268 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$1.36M
$1.19M – $1.59M
NOI $95,250 @ 7.0% cap · market cap 5.69%
Theoretical Best
Specialty Retail
$2.58M
$2.26M – $3.01M
NOI $180,835 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,788
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
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 - Three-level duplex property with a private yard, driveway parking, and a separate basement entrance.
Where is this duplex located?
The property is located at 82 Kermit Pl Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,675,000.
What are key features of this property?
This property features: Approximately 3,120 square feet across 3 levels; 9 bedrooms and 5 full bathrooms; Roof replaced in 2022
