Two-Unit Limestone
For Sale
$1,050,000
902 Brooklyn Avenue, Brooklyn, NY 11203
Residential, Brooklyn, NY
Property Size2,228 SF
Lot Size0.05 Acres
Price / SF$471.27
Days on Market406
Property Features for 902 Brooklyn Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 3, Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 5
Patio and Porch features
Patio
Interior features
A/C Unit - Window, Laundry Area, Patio Garden, Refrigerator, Stove, Window Treatments
Basement
Finished, Full
Subdivision
East Flatbush
Standard status
Active
Size
2,228 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
6797
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Flooring type
Hardwood, Tile
Building materials
Block, Brick
Roof type
Rubber
Listing Agency:
Century 21 Achievers
Listed By:
Andre Hanniford · License #HANDE791
(718) 758-0600
Added: Jul 30, 2025
Changed: Sep 5
Last Checked: Sep 8 at 3:06PM
MLS# 494581
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 1910 attached limestone duplex contains 2228 square feet across two residential units. The upper residence offers three bedrooms and one bathroom, while the lower unit includes two bedrooms and one bathroom. A full basement adds another bathroom and has its own private entrance. Interior features include hardwood and tile flooring, window-unit air conditioning, a laundry area, patio garden, refrigerator, stove, and window treatments. The structure uses block and brick construction and has a rubber roof.
The property sits in Brooklyn’s East Flatbush area, with access to the B35 bus and the 2 and 5 subway lines. Shops, supermarkets, Kings County Hospital, and Downstate Hospital are also identified in the surrounding area. The parcel measures 0.0459 acres and carries R5 zoning.
The property sits in Brooklyn’s East Flatbush area, with access to the B35 bus and the 2 and 5 subway lines. Shops, supermarkets, Kings County Hospital, and Downstate Hospital are also identified in the surrounding area. The parcel measures 0.0459 acres and carries R5 zoning.
Key Highlights
- Two residential units: three‑bedroom/one‑bath and two‑bedroom/one‑bath layouts
- Full basement with bathroom and separate private entrance
- 2228 square feet on a 0.0459‑acre parcel
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
$78,028
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
7.43%
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%
$1,560,560
$1.6M
Cap Rate 7%
$1,114,686
$1.1M
Cap Rate 9%
$866,978
$867.0K
Market Conditions
NOI Build-Up for 2,228 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
$113.6K $51.00/SF
− Vacancy
−$2.2K −$0.97/SF
EGI
$111.5K $50.03/SF
− OpEx
−$33.4K −$15.01/SF
NOI
$78.0K $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%
$1,560,560
Cap Rate 7%
$1,114,686
Cap Rate 9%
$866,978
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$975.4K – $1.30M
NOI $78,028 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$971.7K
$850.2K – $1.13M
NOI $68,019 @ 7.0% cap · market cap 6.48%
Theoretical Best
Specialty Retail
$1.84M
$1.61M – $2.15M
NOI $129,135 @ 7.0% cap · market cap 12.30%
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
5,390
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
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 - Attached two-family property with a finished basement, private entry, and separate residential layouts.
Where is this duplex located?
The property is located at 902 Brooklyn Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Two residential units: three‑bedroom/one‑bath and two‑bedroom/one‑bath layouts; Full basement with bathroom and separate private entrance; 2228 square feet on a 0.0459‑acre parcel
