Brick Two-Family
New
For Sale
$1,795,000
937 71st St, Brooklyn, NY 11228
Two three-bedroom residences are complemented by a finished basement with separate front and rear entry points.
Property Size2,200 SF
Lot Size0.05 Acres
Days on Market5
Property Features for 937 71st St
General Information
Standard status
Active
Size
2,200 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,859
Amenities
private balcony
private backyard
finished basement
Building Details
Building Size
2,200 SF
Year Built
1925
Buildings
1
Stories
2
Construction
brick
Listing Agency:
Womcore LLC dba Remax Edge
Listed By:
Ping Chen · License #PC7262
(718) 612-3088
Source:
Elliman
Added: Oct 23
Changed: Oct 26
Last Checked: Oct 26 at 6:07PM
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 Womcore LLC dba Remax Edge
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Investment Insights
Based on property information with market context.
At 937 71st St in Brooklyn, this brick duplex contains two apartments, each with three bedrooms and one full bathroom. The first-floor unit has a kitchen, separate dining room and large living room; the upper residence includes a kitchen, combined living and dining areas, and a private balcony. Ceilings measure 9'9", and oversized windows bring natural light into the interiors. A full finished basement provides a family room, entertainment room and storage area, with access from both the front and rear.
The property occupies a 20' x 100' lot, with a 20' x 55' building footprint, and includes a private backyard. Recent work includes a new roof, hot water heater and windows, split-unit heating and cooling systems, and reinforcement of the front porch. Electrical wiring and plumbing were redone in 2008. Shopping, restaurants, schools, the N train and local bus service are nearby.
The property occupies a 20' x 100' lot, with a 20' x 55' building footprint, and includes a private backyard. Recent work includes a new roof, hot water heater and windows, split-unit heating and cooling systems, and reinforcement of the front porch. Electrical wiring and plumbing were redone in 2008. Shopping, restaurants, schools, the N train and local bus service are nearby.
Key Highlights
- Two apartments, each with three bedrooms and one full bathroom
- 20' x 100' lot with a 20' x 55' building footprint
- Finished basement with family room, entertainment room, storage, and separate front and rear entrances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,048
Cap Rate
4.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,540,960
$1.5M
Cap Rate 7%
$1,100,686
$1.1M
Cap Rate 9%
$856,089
$856.1K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$112.2K $51.00/SF
− Vacancy
−$2.1K −$0.97/SF
EGI
$110.1K $50.03/SF
− OpEx
−$33.0K −$15.01/SF
NOI
$77.0K $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 Rate 5%
$1,540,960
Cap Rate 7%
$1,100,686
Cap Rate 9%
$856,089
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$963.1K – $1.28M
NOI $77,048 @ 7.0% cap · market cap 4.29%
Second Best
Apartment 5plus
$959.5K
$839.6K – $1.12M
NOI $67,164 @ 7.0% cap · market cap 3.74%
Theoretical Best
Specialty Retail
$1.82M
$1.59M – $2.13M
NOI $127,512 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,349
Businesses Nearby
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Business Placement
Demographics for 11228, NY
45,906
Population
16,336
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
30,604
Density / Sq Mi
$80,737
Median Household Income
$47,062
Median Earnings
$1,828
Median Rent
$1,131,700
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
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences are complemented by a finished basement with separate front and rear entry points.
Where is this duplex located?
The property is located at 937 71st St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: Two apartments, each with three bedrooms and one full bathroom; 20' x 100' lot with a 20' x 55' building footprint; Finished basement with family room, entertainment room, storage, and separate front and rear entrances
