Two-Unit Duplex with Finished
For Sale
$975,000
941 Crescent Street, Brooklyn, NY 11208
Each residence includes three bedrooms, two full baths, and separate living and dining areas.
Property Size2,080 SF
Price / SF$468.75
Days on Market36
Property Features for 941 Crescent Street
General Information
Standard status
Active
Size
2,080 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,341
Amenities
full finished basement
window/wall A/C units
fenced concrete yard
Building Details
Building Size
2,080 SF
Year Built
2005
Units
2
Listing Agency:
EXP Realty
(888) 276-0630
Listed By:
Gregory H. Taylor · License #10301207909
(917) 805-5411
Source:
Maurafinnegan
Added: Jul 29
Changed: Aug 30
Last Checked: Aug 31 at 5:12PM
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 EXP Realty
Investment Insights
Based on property information with market context.
This two-unit residential income property was built in 2005 and contains approximately 2,080 sq ft across two similar residences. Each unit includes three bedrooms, two full baths, a living room, a separate dining area, and a galley-style kitchen with ample cabinet storage. Window/wall A/C units serve each floor.
A full finished basement adds usable space and includes a 5th full bath. The fenced concrete rear yard provides room for parking or storage. The property is located at 941 Crescent Street in Brooklyn, NY 11208, near schools, parks, shopping, dining, and public transportation, with an easy commute into Manhattan. The property is offered as-is, and the buyer is responsible for due diligence.
A full finished basement adds usable space and includes a 5th full bath. The fenced concrete rear yard provides room for parking or storage. The property is located at 941 Crescent Street in Brooklyn, NY 11208, near schools, parks, shopping, dining, and public transportation, with an easy commute into Manhattan. The property is offered as-is, and the buyer is responsible for due diligence.
Key Highlights
- Approximately 2,080 sq ft across two similar units
- Two units, each with 3 bedrooms and 2 full baths
- Full finished basement with a 5th full bath
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
$53,394
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
5.48%
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%
$1,067,880
$1.1M
Cap Rate 7%
$762,771
$762.8K
Cap Rate 9%
$593,267
$593.3K
Market Conditions
NOI Build-Up for 2,080 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
$79.9K $38.40/SF
− Vacancy
−$3.6K −$1.73/SF
EGI
$76.3K $36.67/SF
− OpEx
−$22.9K −$11.00/SF
NOI
$53.4K $25.67/SF
Area
ZIP 11208
Vacancy
4.50%
Lease Rate
$38.40 /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%
$1,067,880
Cap Rate 7%
$762,771
Cap Rate 9%
$593,267
Alternative Uses
Best Use
Multifamily LT 5
$762.8K
$667.4K – $889.9K
NOI $53,394 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$679.2K
$594.3K – $792.4K
NOI $47,543 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $89,089 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,196
Businesses Nearby
Explore this area
Business Placement
Demographics for 11208, NY
101,958
Population
37,261
Households
2.7
Avg Household Size
35
Median Age
16%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
37,762
Density / Sq Mi
$59,988
Median Household Income
$40,156
Median Earnings
$1,563
Median Rent
$638,200
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 - Each residence includes three bedrooms, two full baths, and separate living and dining areas.
Where is this duplex located?
The property is located at 941 Crescent Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Approximately 2,080 sq ft across two similar units; Two units, each with 3 bedrooms and 2 full baths; Full finished basement with a 5th full bath
