Renovated Duplex with Private
For Sale
$800,000
9021 Ave L, Brooklyn, NY 11236
Two-family property with updated kitchens and baths, private outdoor space, parking, and access to public transportation.
Property Size1,700 SF
Price / SF$470.59
Days on Market389
Property Features for 9021 Ave L
General Information
Standard status
Active
Size
1,700 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,400
Amenities
private backyard
yard parking
community driveway access
tankless water heater
Building Details
Building Size
1,700 SF
Year Built
1955
Buildings
1
Tenancy
Single
Listing Agency:
Compass
Listed By:
Susan Chung · License #10401258951
(347) 268-3389
Source:
Carlinwright
Added: Sep 2, 2025
Changed: Sep 24
Last Checked: Sep 24 at 3:27PM
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 Compass
Investment Insights
Based on property information with market context.
This 1,700-square-foot duplex, built in 1955, includes two separate living units. The owner's residence has two bedrooms and one bath, while the rental unit offers one bedroom and two baths. Kitchens and bathrooms have been renovated in both units, with updates completed in the rental unit within the past year and in the owner's unit in 2018. Floors were refinished in 2025. A tankless water heater installed within the past 6–7 years and a roof under 10 years old add to the property's physical improvements. The layout also includes an enclosed third bath that can serve as laundry or utility space.
Located at 9021 Ave L in Brooklyn's Canarsie neighborhood, the property has a private backyard, yard parking, and community driveway access. The L train at Canarsie-Rockaway Parkway, multiple bus lines, and the Belt Parkway provide transportation connections. Gateway Center, Canarsie Pier, Shirley Chisholm State Park, Jamaica Bay, Rockaway Beach, and Seaview Park are also nearby.
Located at 9021 Ave L in Brooklyn's Canarsie neighborhood, the property has a private backyard, yard parking, and community driveway access. The L train at Canarsie-Rockaway Parkway, multiple bus lines, and the Belt Parkway provide transportation connections. Gateway Center, Canarsie Pier, Shirley Chisholm State Park, Jamaica Bay, Rockaway Beach, and Seaview Park are also nearby.
Key Highlights
- 1,700‑square‑foot duplex on a 1955‑built property
- Two‑bedroom, one‑bath owner's unit and one‑bedroom, two‑bath rental unit
- Renovated kitchens and bathrooms in both units
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
$59,537
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
7.44%
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%
$1,190,740
$1.2M
Cap Rate 7%
$850,529
$850.5K
Cap Rate 9%
$661,522
$661.5K
Market Conditions
NOI Build-Up for 1,700 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
$86.7K $51.00/SF
− Vacancy
−$1.6K −$0.97/SF
EGI
$85.1K $50.03/SF
− OpEx
−$25.5K −$15.01/SF
NOI
$59.5K $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%
$1,190,740
Cap Rate 7%
$850,529
Cap Rate 9%
$661,522
Alternative Uses
Best Use
Multifamily LT 5
$850.5K
$744.2K – $992.3K
NOI $59,537 @ 7.0% cap · market cap 7.44%
Second Best
Apartment 5plus
$741.4K
$648.7K – $865.0K
NOI $51,899 @ 7.0% cap · market cap 6.49%
Theoretical Best
Specialty Retail
$1.41M
$1.23M – $1.64M
NOI $98,532 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,677
Businesses Nearby
Explore this area
Business Placement
Demographics for 11236, NY
100,687
Population
37,002
Households
2.7
Avg Household Size
40
Median Age
28%
College-Educated
88%
High-School Grad
3.6 sq mi
ZIP Area
27,969
Density / Sq Mi
$82,813
Median Household Income
$50,244
Median Earnings
$1,637
Median Rent
$710,300
Median Home Value
Check the figures for this property
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-family property with updated kitchens and baths, private outdoor space, parking, and access to public transportation.
Where is this duplex located?
The property is located at 9021 Ave L Brooklyn, NY.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 1,700‑square‑foot duplex on a 1955‑built property; Two‑bedroom, one‑bath owner's unit and one‑bedroom, two‑bath rental unit; Renovated kitchens and bathrooms in both units
