Two-Unit Duplex with Full
For Sale
$1,050,000
902 Brooklyn Avenue, Brooklyn, NY 11203
MULTI_FAMILY - Brooklyn, NY
Property Size2,228 SF
Lot Size0.05 Acres
Price / SF$471.27
Days on Market391
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
Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 5, Bathroom 3, Bedroom 2, Bedroom 1, Bedroom 4
Patio and Porch features
Patio
Interior features
A/C Unit - Window, Laundry Area, Patio Garden, Refrigerator, Stove, Window Treatments
Basement
Full, Finished
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
(718) 758-0600
Listed By:
Andre Hanniford
(718) 758-0600
Added: Jul 30, 2025
Changed: Aug 3
Last Checked: Aug 24 at 5:06PM
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 fully attached two-unit limestone duplex is configured as a three-bedroom, one-bath unit over a two-bedroom, one-bath unit. The property also includes a full basement with a full bathroom and a private entrance, providing an additional level of versatility. Interior features include window A/C units, a designated laundry area, hardwood and tile flooring, and in-place kitchen appliances such as a refrigerator and stove. A patio is included as an outdoor amenity. Built in 1910, the home combines traditional materials with functional living space.
The property is located at 902 Brooklyn Avenue in East Flatbush, Brooklyn (11203). Public transit nearby includes the B35 bus and access to the 2 and 5 trains, with shopping, supermarkets, and hospitals including Kings County Hospital and Downstate Hospital described as minutes away.
Zoned R5, this duplex is well suited for an owner-occupant or tenant-operator seeking a two-family layout with separate basement access.
The property is located at 902 Brooklyn Avenue in East Flatbush, Brooklyn (11203). Public transit nearby includes the B35 bus and access to the 2 and 5 trains, with shopping, supermarkets, and hospitals including Kings County Hospital and Downstate Hospital described as minutes away.
Zoned R5, this duplex is well suited for an owner-occupant or tenant-operator seeking a two-family layout with separate basement access.
Key Highlights
- R5 zoning
- Two‑unit layout: three‑bedroom one‑bath over two‑bedroom one‑bath
- Full basement with full bathroom and private entrance
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
Multi-tenant
Tenancy
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 - R5-zoned, two-unit duplex with a full basement and private entrance, plus patio and interior A/C and in-unit laundry.
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: R5 zoning; Two‑unit layout: three‑bedroom one‑bath over two‑bedroom one‑bath; Full basement with full bathroom and private entrance
