Two-Family Townhouse with Private
For Sale
$1,399,999
904 GATES Avenue, Brooklyn, NY 11221
Move-in-ready two-family townhouse with an owner duplex, separate top-floor rental, and private off-street parking.
Property Size2,880 SF
Price / SF$486.11
Days on Market101
Property Features for 904 GATES Avenue
General Information
Standard status
Active
Size
2,880 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,376
Building Details
Building Size
2,880 SF
Year Built
1995
Listing Agency:
Serhant
Listed By:
Stanley P Montfort
(908) 414-6006
Source:
Nilelundgren
Added: Jul 24
Changed: Oct 31
Last Checked: Oct 30 at 7:56PM
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 Serhant
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Investment Insights
Based on property information with market context.
This move-in-ready two-family townhouse includes an expansive owner duplex with four bedrooms, two modern bathrooms, and a chef-friendly kitchen with updated appliances and premium granite countertops. A deep private garden is available for outdoor enjoyment.
The property also features a completely separate top-floor rental apartment for additional income. It includes a private driveway providing off-street parking. The remarks note a generous FAR of 3, with potential for long-term expansion by approximately 3,120 square feet.
Transit information provided indicates a TransitScore of 98 (Rider’s Paradise), with WalkScore of 88 (Very Walkable) and BikeScore of 74 (Very Bikeable).
The property also features a completely separate top-floor rental apartment for additional income. It includes a private driveway providing off-street parking. The remarks note a generous FAR of 3, with potential for long-term expansion by approximately 3,120 square feet.
Transit information provided indicates a TransitScore of 98 (Rider’s Paradise), with WalkScore of 88 (Very Walkable) and BikeScore of 74 (Very Bikeable).
Key Highlights
- Two‑family townhouse built in 1995 with an owner duplex and a separate top‑floor rental apartment
- Owner duplex features 4 bedrooms, 2 bathrooms, and a chef‑friendly kitchen with updated appliances and granite countertops
- Separate top‑floor rental provides immediate, steady revenue
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$100,862
Cap Rate
7.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,017,240
$2.0M
Cap Rate 7%
$1,440,886
$1.4M
Cap Rate 9%
$1,120,689
$1.1M
Market Conditions
NOI Build-Up for 2,880 SF
Gross rent
$146.9K $51.00/SF
− Vacancy
−$2.8K −$0.97/SF
EGI
$144.1K $50.03/SF
− OpEx
−$43.2K −$15.01/SF
NOI
$100.9K $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 Rate 5%
$2,017,240
Cap Rate 7%
$1,440,886
Cap Rate 9%
$1,120,689
Alternative Uses
Best Use
Multifamily LT 5
$1.44M
$1.26M – $1.68M
NOI $100,862 @ 7.0% cap · market cap 7.20%
Second Best
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $87,923 @ 7.0% cap · market cap 6.28%
Theoretical Best
Specialty Retail
$2.38M
$2.09M – $2.78M
NOI $166,925 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,649
Businesses Nearby
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Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
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
Frequently Asked Questions
What type of property is this?
Duplex - Move-in-ready two-family townhouse with an owner duplex, separate top-floor rental, and private off-street parking.
Where is this duplex located?
The property is located at 904 GATES Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,399,999.
What are key features of this property?
This property features: Two‑family townhouse built in 1995 with an owner duplex and a separate top‑floor rental apartment; Owner duplex features 4 bedrooms, 2 bathrooms, and a chef‑friendly kitchen with updated appliances and granite countertops; Separate top‑floor rental provides immediate, steady revenue
