Colonial Two-Family
For Sale
$925,000
973 SCHENECTADY Avenue, Brooklyn, NY 11203
Colonial two-family home offering six bedrooms, two full baths, an eat-in kitchen, and a one-car garage.
Property Size1,832 SF
Price / SF$504.91
Days on Market193
Property Features for 973 SCHENECTADY Avenue
General Information
Standard status
Active
Size
1,832 SF
Total Parking Spaces
1
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,556
Building Details
Building Size
1,832 SF
Year Built
1905
Listing Agency:
ISLAND ADVANTAGE REALTY LLC
Listed By:
Todd Yovino · License #49YO0956714
(516) 819-7800
Source:
Howardhannanyc
Added: Feb 27
Changed: Sep 2
Last Checked: Sep 7 at 8:31AM
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 ISLAND ADVANTAGE REALTY LLC
Investment Insights
Based on property information with market context.
This colonial two-family style home includes six bedrooms and two full bathrooms. Each unit features an eat-in kitchen, and the property also provides a one-car garage.
The home is located at 973 Schenectady Ave in Brooklyn, NY 11203. TransitScore is 79 (Excellent Transit), walkScore is 80 (Very Walkable), and bikeScore is 64 (Bikeable), supporting day-to-day accessibility for residents.
The available information should be treated as estimates to the best of current reporting.
The home is located at 973 Schenectady Ave in Brooklyn, NY 11203. TransitScore is 79 (Excellent Transit), walkScore is 80 (Very Walkable), and bikeScore is 64 (Bikeable), supporting day-to-day accessibility for residents.
The available information should be treated as estimates to the best of current reporting.
Key Highlights
- Colonial two‑family home built in 1905
- Features six bedrooms and two full baths
- Eat‑in kitchen
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
$64,160
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
6.94%
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%
$1,283,200
$1.3M
Cap Rate 7%
$916,571
$916.6K
Cap Rate 9%
$712,889
$712.9K
Market Conditions
NOI Build-Up for 1,832 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
$93.4K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$91.7K $50.03/SF
− OpEx
−$27.5K −$15.01/SF
NOI
$64.2K $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%
$1,283,200
Cap Rate 7%
$916,571
Cap Rate 9%
$712,889
Alternative Uses
Best Use
Multifamily LT 5
$916.6K
$802.0K – $1.07M
NOI $64,160 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$799.0K
$699.1K – $932.2K
NOI $55,929 @ 7.0% cap · market cap 6.05%
Theoretical Best
Specialty Retail
$1.52M
$1.33M – $1.77M
NOI $106,183 @ 7.0% cap · market cap 11.48%
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
2,900
Businesses Nearby
Explore this area
Business Placement
Demographics for 11203, NY
81,824
Population
33,434
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
38,964
Density / Sq Mi
$68,028
Median Household Income
$47,302
Median Earnings
$1,566
Median Rent
$677,700
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 - Colonial two-family home offering six bedrooms, two full baths, an eat-in kitchen, and a one-car garage.
Where is this duplex located?
The property is located at 973 SCHENECTADY Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Colonial two‑family home built in 1905; Features six bedrooms and two full baths; Eat‑in kitchen
