Modern Brooklyn Three-Family
For Sale
$1,999,999
88 Aberdeen Street, Brooklyn, NY 11207
Three-family home with spacious layouts and excellent rental potential.
Property Size2,940 SF
Price / SF$680.27
Days on Market119
Property Features for 88 Aberdeen Street
General Information
Standard status
Active
Size
2,940 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$7,719
Building Details
Building Size
2,940 SF
Year Built
2004
Listing Agency:
Reliance Realty One LLC
Listed By:
Richard E. Dun · License #10491213076
(646) 881-6225
Source:
Penrealty
Added: May 11
Changed: Aug 31
Last Checked: Sep 5 at 7:25AM
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 Reliance Realty One LLC
Investment Insights
Based on property information with market context.
Located at 88 Aberdeen St, Brooklyn, NY 11207, this modern three-family home features spacious layouts and excellent rental potential. The property is in mint condition and includes two 3-bedroom, 2-bath apartments and one 2-bedroom, 1-bath unit. Each unit is equipped with its own washer and dryer. Residents of the first-floor apartment have private yard access. Owners also gain access to the community garden across the street. The property is located minutes from the L train, offering convenient commuting options. With a walk score of 90, the location is considered very walkable. The bike score is 64, indicating it is bikeable. The transit score is 100, designating it as a rider's paradise. This property is suitable for an owner-occupant seeking rental income.
Key Highlights
- Excellent Rental Income Potential: Three‑family home with two 3‑bedroom, 2‑bath units and one 2‑bedroom, 1‑bath unit.
- Mint Condition: Property is in excellent, move‑in ready condition.
- Convenient Commuting: Located minutes from the L train, providing easy access to transportation.
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
$102,964
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
5.15%
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%
$2,059,280
$2.1M
Cap Rate 7%
$1,470,914
$1.5M
Cap Rate 9%
$1,144,044
$1.1M
Market Conditions
NOI Build-Up for 2,940 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
$149.9K $51.00/SF
− Vacancy
−$2.8K −$0.97/SF
EGI
$147.1K $50.03/SF
− OpEx
−$44.1K −$15.01/SF
NOI
$103.0K $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%
$2,059,280
Cap Rate 7%
$1,470,914
Cap Rate 9%
$1,144,044
Alternative Uses
Best Use
Multifamily LT 5
$1.47M
$1.29M – $1.72M
NOI $102,964 @ 7.0% cap · market cap 5.15%
Second Best
Apartment 5plus
$1.28M
$1.12M – $1.50M
NOI $89,755 @ 7.0% cap · market cap 4.49%
Theoretical Best
Specialty Retail
$2.43M
$2.13M – $2.84M
NOI $170,402 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,473
Businesses Nearby
Explore this area
Business Placement
Demographics for 11207, NY
100,330
Population
38,030
Households
2.6
Avg Household Size
35
Median Age
19%
College-Educated
81%
High-School Grad
2.7 sq mi
ZIP Area
37,159
Density / Sq Mi
$55,419
Median Household Income
$41,008
Median Earnings
$1,443
Median Rent
$657,400
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?
Triplex - Three-family home with spacious layouts and excellent rental potential.
Where is this triplex located?
The property is located at 88 Aberdeen Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,999,999.
What are key features of this property?
This property features: Excellent Rental Income Potential: Three‑family home with two 3‑bedroom, 2‑bath units and one 2‑bedroom, 1‑bath unit.; Mint Condition: Property is in excellent, move‑in ready condition.; Convenient Commuting: Located minutes from the L train, providing easy access to transportation.
