Two-Story Duplex with
For Sale
$629,000
98 Herzl Street, Brooklyn, NY 11212
Residential, Duplex, Brooklyn, NY
Property Size1,620 SF
Lot Size0.05 Acres
Price / SF$388.27
Days on Market51
Property Features for 98 Herzl Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R6
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 3
Parking features
Carport
Interior features
Refrigerator, Stove
Subdivision
Brownsville
Standard status
Active
Size
1,620 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
5538
Building Details
Year built
1987
Floors in Building
2
Flooring type
Hardwood
Building materials
Wood Frame
Roof type
Flat
Architectural style
Other
Listing Agency:
RE/MAX Edge · RE/MAX International
(718) 612-3088
Listed By:
Albert Taye · License #TAYA286
(917) 592-1281
Added: Jul 21
Changed: Sep 6
Last Checked: Sep 9 at 12:06PM
MLS# 503180
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story duplex at 98 Herzl Street contains 1,620 square feet with four bedrooms, two full bathrooms, and one half bath. The interior includes hardwood flooring, a walk-in closet, additional closet storage, a refrigerator, and a stove. Wood-frame construction and a flat roof date to 1987.
The property occupies 0.0459 acres in Brooklyn, NY 11212 and includes a large backyard along with a front carport accommodating two vehicles. R6 zoning applies to the site.
The layout combines residential space with practical storage and outdoor area. Cosmetic updating may be appropriate for a buyer seeking to customize the interiors while retaining the existing bedroom, bath, parking, and yard configuration.
The property occupies 0.0459 acres in Brooklyn, NY 11212 and includes a large backyard along with a front carport accommodating two vehicles. R6 zoning applies to the site.
The layout combines residential space with practical storage and outdoor area. Cosmetic updating may be appropriate for a buyer seeking to customize the interiors while retaining the existing bedroom, bath, parking, and yard configuration.
Key Highlights
- 1,620‑square‑foot two‑story duplex with four bedrooms
- Two full bathrooms plus one half bath
- 0.0459‑acre lot with a large backyard
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
$56,735
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
9.02%
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%
$1,134,700
$1.1M
Cap Rate 7%
$810,500
$810.5K
Cap Rate 9%
$630,389
$630.4K
Market Conditions
NOI Build-Up for 1,620 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
$82.6K $51.00/SF
− Vacancy
−$1.6K −$0.97/SF
EGI
$81.1K $50.03/SF
− OpEx
−$24.3K −$15.01/SF
NOI
$56.7K $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%
$1,134,700
Cap Rate 7%
$810,500
Cap Rate 9%
$630,389
Alternative Uses
Best Use
Multifamily LT 5
$810.5K
$709.2K – $945.6K
NOI $56,735 @ 7.0% cap · market cap 9.02%
Second Best
Apartment 5plus
$706.5K
$618.2K – $824.3K
NOI $49,457 @ 7.0% cap · market cap 7.86%
Theoretical Best
Specialty Retail
$1.34M
$1.17M – $1.56M
NOI $93,895 @ 7.0% cap · market cap 14.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,765
Businesses Nearby
Explore this area
Business Placement
Demographics for 11212, NY
91,574
Population
34,782
Households
2.6
Avg Household Size
36
Median Age
16%
College-Educated
78%
High-School Grad
1.5 sq mi
ZIP Area
61,049
Density / Sq Mi
$40,060
Median Household Income
$32,553
Median Earnings
$1,231
Median Rent
$549,400
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 - Four-bedroom property with hardwood flooring, two full baths, and a two-vehicle carport.
Where is this duplex located?
The property is located at 98 Herzl Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: 1,620‑square‑foot two‑story duplex with four bedrooms; Two full bathrooms plus one half bath; 0.0459‑acre lot with a large backyard
