Well-Maintained Brooklyn Two-Family
1509 E 31st Street, Brooklyn, NY 11234
MULTI_FAMILY - Brooklyn, NY
Property size:
2,576 SFLot size:
0.06 AcresPrice / SF:
$553/SF- Added:
- Mar 18, 2026
- Days on Market:
- 66
- Last Refresh:
- May 22 at 3:06 pm
Property Features for 1509 E 31st Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R3-2
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bathroom 1, Bathroom 3
- Basement
- Finished
- Standard status
- Active
- Size
- 2,576 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Annual Amount
- 10455
Building Details
- Year built
- 1930
- Floors in Building
- 2
- Number of units
- 2
Listing agent Sarah Lasker (718) 677-8024
Listing office Lasker Realty 1231 E 12th Street, Brooklyn, NY (718) 677-8024
Listing date Mar 18, 2026
MLS# 499782
Listing URL
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.
HighLights
- Well‑maintained 2‑family brick property.
- First floor can be converted to a 3‑bedroom unit.
- Second floor has 4 bedrooms.
- Eat‑in kitchen on the first floor.
- Kitchens and bathrooms are in good condition.
- Redone/new half basement.
Overview
This is a well-maintained, semi-attached brick two-family home. The first floor features two bedrooms at the rear, with the potential to convert the front room into a third bedroom, and an eat-in kitchen. The second floor includes two rear bedrooms and two front bedrooms. The kitchens and bathrooms are in good condition. The half basement has been redone. The property includes a shared driveway. The property is located in Brooklyn, NY.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$1.00M
NOI $90,216 @ 9.00% cap · cautious / downside scenario
Moderate
$1.29M
NOI $90,216 @ 7.00% cap · market / base-case scenario
Aggressive
$1.80M
NOI $90,216 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $131.4k | $51.00 |
| − Vacancy | −$2.5k | −$0.97 |
| EGI | $128.9k | $50.03 |
| − OpEx | −$38.7k | −$15.01 |
| NOI | $90.2k | $35.02 |
2,576 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$1.29M
$1.13M – $1.50M
NOI $90,216 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$1.12M
$983.0K – $1.31M
NOI $78,643 @ 7.0% cap · market cap 5.52%
Theoretical Best
Specialty Retail
$2.13M
$1.87M – $2.49M
NOI $149,305 @ 7.0% cap · market cap 10.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.94353
- Latitude
- 40.615467
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Semi-attached, brick two-family home in Brooklyn, NY.
Where is this duplex located?
The property is located at 1509 E 31st Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: Well‑maintained 2‑family brick property.; First floor can be converted to a 3‑bedroom unit.; Second floor has **4 bedrooms**.
