Three-Story Duplex with
New
For Sale
$1,120,000
998 Crescent St, Brooklyn, NY 11208
Two-family residence with a finished basement, private driveway, and backyard for added living and parking flexibility.
Property Size3,549 SF
Lot Size0.07 Acres
Price / SF$315.58
Days on Market2
Property Features for 998 Crescent St
General Information
Standard status
Active
Size
3,549 SF
Lot size
0.07 Acres
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Amenities
private backyard
finished basement
Building Details
Year Built
2002
Buildings
1
Stories
3
Listing Agency:
United Real Estate Fortune
Listed By:
Le Quan · License #10401318524
(718) 255-9100
Source:
Realtyconnectusa
Added: Sep 21
Last Checked: Sep 21 at 2:36PM
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 United Real Estate Fortune
Investment Insights
Based on property information with market context.
This detached duplex is arranged as a three-story, 3-bedroom-over-3-bedroom residence with approximately 3,549 sq ft of gross building area. A finished basement adds usable interior space, while the private backyard extends the property’s functional living area. The home was built in 2002 and includes a private driveway for off-street parking.
The property occupies a 30 x 100 ft lot at 998 Crescent Street in Brooklyn’s East New York section. It is positioned on a residential street with access to local transportation, shopping, dining, schools, and neighborhood amenities. The two-family configuration supports separate household arrangements or a combination of owner occupancy and rental use.
The property occupies a 30 x 100 ft lot at 998 Crescent Street in Brooklyn’s East New York section. It is positioned on a residential street with access to local transportation, shopping, dining, schools, and neighborhood amenities. The two-family configuration supports separate household arrangements or a combination of owner occupancy and rental use.
Key Highlights
- 3,549 sq ft of gross building area
- 3‑bedroom‑over‑3‑bedroom duplex layout
- Built in 2002
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
$91,104
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
8.13%
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%
$1,822,080
$1.8M
Cap Rate 7%
$1,301,486
$1.3M
Cap Rate 9%
$1,012,267
$1.0M
Market Conditions
NOI Build-Up for 3,549 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
$136.3K $38.40/SF
− Vacancy
−$6.1K −$1.73/SF
EGI
$130.1K $36.67/SF
− OpEx
−$39.0K −$11.00/SF
NOI
$91.1K $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%
$1,822,080
Cap Rate 7%
$1,301,486
Cap Rate 9%
$1,012,267
Alternative Uses
Best Use
Multifamily LT 5
$1.30M
$1.14M – $1.52M
NOI $91,104 @ 7.0% cap · market cap 8.13%
Second Best
Apartment 5plus
$1.16M
$1.01M – $1.35M
NOI $81,120 @ 7.0% cap · market cap 7.24%
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $152,008 @ 7.0% cap · market cap 13.57%
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
Yes
Paved road access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Two-family residence with a finished basement, private driveway, and backyard for added living and parking flexibility.
Where is this duplex located?
The property is located at 998 Crescent St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,120,000.
What are key features of this property?
This property features: 3,549 sq ft of gross building area; 3‑bedroom‑over‑3‑bedroom duplex layout; Built in 2002
