Period-Detail Duplex
New
For Sale
$1,100,000
902 New York Avenue, Brooklyn, NY 11203
Two residences with original architectural features, flexible lower-level space, and a backyard in Brooklyn.
Property Size2,060 SF
Price / SF$533.98
Days on Market5
Property Features for 902 New York Avenue
General Information
Standard status
Active
Size
2,060 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,400
Building Details
Building Size
2,060 SF
Year Built
1910
Buildings
1
Listing Agency:
Keller Williams Realty Empire
Listed By:
Alana McIntosh · License #10301209681
(646) 820-8441
Source:
Carlinwright
Added: Sep 18
Changed: Sep 21
Last Checked: Sep 21 at 7:56AM
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 Keller Williams Realty Empire
Investment Insights
Based on property information with market context.
This 1910 duplex townhouse contains two residences within a 2,060-square-foot building and will be vacant at closing. Original features include wood flooring, pressed tin ceilings, a mosaic-tile vestibule, a carved staircase, bay windows, a skylight, and a buff brick facade with an ornamented cornice. The parlor level extends nearly 28 feet from front to back, while the upper level includes two bedrooms, a family room, and a sitting room. A separate lower-level entrance leads to a 38-foot open room, full bath, laundry, and storage. The kitchen connects with a dining area and the backyard, which provides additional outdoor space for future improvements.
Transit access includes the 2 and 5 trains at Church Avenue and Nostrand, along with B35 and B44 Select Bus Service across the street. The property is suited to owner occupancy with a second residence, or to a full-house residential configuration. Annual taxes are approximately $6,400.
Transit access includes the 2 and 5 trains at Church Avenue and Nostrand, along with B35 and B44 Select Bus Service across the street. The property is suited to owner occupancy with a second residence, or to a full-house residential configuration. Annual taxes are approximately $6,400.
Key Highlights
- Two‑family duplex townhouse built in 1910
- 2,060‑square‑foot building with two residences
- Original wood floors, pressed tin ceilings, mosaic vestibule, bay windows, and carved staircase
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
$72,145
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
6.56%
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%
$1,442,900
$1.4M
Cap Rate 7%
$1,030,643
$1.0M
Cap Rate 9%
$801,611
$801.6K
Market Conditions
NOI Build-Up for 2,060 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
$105.1K $51.00/SF
− Vacancy
−$2.0K −$0.97/SF
EGI
$103.1K $50.03/SF
− OpEx
−$30.9K −$15.01/SF
NOI
$72.1K $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%
$1,442,900
Cap Rate 7%
$1,030,643
Cap Rate 9%
$801,611
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$901.8K – $1.20M
NOI $72,145 @ 7.0% cap · market cap 6.56%
Second Best
Apartment 5plus
$898.4K
$786.1K – $1.05M
NOI $62,890 @ 7.0% cap · market cap 5.72%
Theoretical Best
Specialty Retail
$1.71M
$1.49M – $1.99M
NOI $119,398 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,278
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences with original architectural features, flexible lower-level space, and a backyard in Brooklyn.
Where is this duplex located?
The property is located at 902 New York Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two‑family duplex townhouse built in 1910; 2,060‑square‑foot building with two residences; Original wood floors, pressed tin ceilings, mosaic vestibule, bay windows, and carved staircase
