Brick Duplex with Private
New
For Sale
$2,300,000
971 66th St, Brooklyn, NY 11219
Separate three- and four-bedroom floors are complemented by a finished basement with its own front entrance.
Property Size3,300 SF
Lot Size0.07 Acres
Days on Market4
Property Features for 971 66th St
General Information
Standard status
Active
Size
3,300 SF
Lot size
0.07 Acres
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR, 1 x 4BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,648
Building Details
Building Size
3,300 SF
Year Built
1925
Buildings
1
Stories
2
Construction
full-brick
Listing Agency:
Womcore LLC dba Remax Edge
Listed By:
Michelle J. Zhang · License #MZ4172
(718) 612-3088
Source:
Elliman
Added: Sep 24
Last Checked: Sep 26 at 9:36AM
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
Investment Insights
Based on property information with market context.
This full-brick duplex, built in 1925, has a three-bedroom first-floor layout and a four-bedroom second-floor layout. The finished basement has high ceilings, a separate entrance at the front, and direct access to the backyard. The property occupies a 30-by-100-foot lot, with an approximately 20-by-55-foot building and a 10-foot-wide private driveway that accommodates multiple vehicles.
The property is near Fort Hamilton Parkway, with shopping, supermarkets, restaurants, parks, and public transportation in the surrounding area. Brooklyn’s 8th Avenue shopping and dining corridor is also nearby. Walk Score is 92, Transit Score is 80, and Bike Score is 55.
The property is near Fort Hamilton Parkway, with shopping, supermarkets, restaurants, parks, and public transportation in the surrounding area. Brooklyn’s 8th Avenue shopping and dining corridor is also nearby. Walk Score is 92, Transit Score is 80, and Bike Score is 55.
Key Highlights
- Full‑brick duplex built in 1925
- Three‑bedroom first‑floor layout and four‑bedroom second‑floor layout
- Finished, high‑ceiling basement with separate front entrance and backyard access
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
$95,301
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
4.14%
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%
$1,906,020
$1.9M
Cap Rate 7%
$1,361,443
$1.4M
Cap Rate 9%
$1,058,900
$1.1M
Market Conditions
NOI Build-Up for 3,300 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
$142.6K $43.20/SF
− Vacancy
−$6.4K −$1.94/SF
EGI
$136.1K $41.26/SF
− OpEx
−$40.8K −$12.38/SF
NOI
$95.3K $28.88/SF
Area
ZIP 11219
Vacancy
4.50%
Lease Rate
$43.20 /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%
$1,906,020
Cap Rate 7%
$1,361,443
Cap Rate 9%
$1,058,900
Alternative Uses
Best Use
Multifamily LT 5
$1.36M
$1.19M – $1.59M
NOI $95,301 @ 7.0% cap · market cap 4.14%
Second Best
Apartment 5plus
$1.22M
$1.07M – $1.43M
NOI $85,547 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$2.14M
$1.87M – $2.50M
NOI $149,751 @ 7.0% cap · market cap 6.51%
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
4,582
Businesses Nearby
Explore this area
Business Placement
Demographics for 11219, NY
103,447
Population
27,973
Households
3.7
Avg Household Size
27
Median Age
21%
College-Educated
70%
High-School Grad
1.5 sq mi
ZIP Area
68,965
Density / Sq Mi
$55,685
Median Household Income
$30,647
Median Earnings
$1,678
Median Rent
$1,086,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate three- and four-bedroom floors are complemented by a finished basement with its own front entrance.
Where is this duplex located?
The property is located at 971 66th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Full‑brick duplex built in 1925; Three‑bedroom first‑floor layout and four‑bedroom second‑floor layout; Finished, high‑ceiling basement with separate front entrance and backyard access
