Renovated Brick One-Family
For Sale
$1,069,000
1721 E 31st Street, Brooklyn, NY 11234
SINGLE_FAMILY - Brooklyn, NY
Property Size1,890 SF
Lot Size0.05 Acres
Price / SF$565.61
Days on Market92
Property Features for 1721 E 31st Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R3-2
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 3
Parking features
Garage - Detached
Interior features
Central Air - Split, Dishwasher, Dryer, Refrigerator, Stove
Basement
Full, Finished
Subdivision
Marine Park
Standard status
Active
Size
1,890 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
7505
Building Details
Year built
1935
Floors in Building
2
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
Pride Estates
(718) 569-2888
Listed By:
Danny D. Chung
(718) 569-2888
Added: May 13
Changed: Aug 3
Last Checked: Aug 12 at 2:06PM
MLS# 501384
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.
Renovated brick one-family home offering a comfortable, functional layout across three levels. The top floor features three bedrooms and a full bathroom. The middle floor includes an open concept living and dining area with a modern kitchen, with access to a private outdoor space. A fully finished basement provides a large open area, a three-quarter bathroom, and a laundry/heating room.
The home includes hardwood floors, a sprinkler system, split system air conditioning, bright modern lighting, and granite countertops with modern cabinetry. Interior appointments include custom built-in closets and two kitchen sinks. Additional improvements noted include a seven-year-old boiler and a relaxing outdoor back patio, along with a detached garage.
Zoned R3-2, the property is located in Brooklyn and is described as convenient to shopping, schools, restaurants, places of worship, parks, and public transportation.
The home includes hardwood floors, a sprinkler system, split system air conditioning, bright modern lighting, and granite countertops with modern cabinetry. Interior appointments include custom built-in closets and two kitchen sinks. Additional improvements noted include a seven-year-old boiler and a relaxing outdoor back patio, along with a detached garage.
Zoned R3-2, the property is located in Brooklyn and is described as convenient to shopping, schools, restaurants, places of worship, parks, and public transportation.
Key Highlights
- Brick one‑family home built in 1935 with detached garage
- Top floor layout includes 3 bedrooms and a full bathroom
- Middle floor open concept with living room, dining area, and modern kitchen with access to a private outdoor space
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
$57,700
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
5.40%
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%
$1,154,000
$1.2M
Cap Rate 7%
$824,286
$824.3K
Cap Rate 9%
$641,111
$641.1K
Market Conditions
NOI Build-Up for 1,890 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
$107.0K $56.64/SF
− Vacancy
−$2.1K −$1.13/SF
EGI
$104.9K $55.51/SF
− OpEx
−$47.2K −$24.98/SF
NOI
$57.7K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$1,154,000
Cap Rate 7%
$824,286
Cap Rate 9%
$641,111
Alternative Uses
Best Use
Apartment 5plus
$824.3K
$721.3K – $961.7K
NOI $57,700 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.56M
$1.37M – $1.83M
NOI $109,544 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
2,223
Businesses Nearby
Explore this area
Business Placement
Demographics for 11234, NY
92,133
Population
35,167
Households
2.6
Avg Household Size
41
Median Age
39%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
12,450
Density / Sq Mi
$94,434
Median Household Income
$55,206
Median Earnings
$1,771
Median Rent
$746,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Renovated brick one-family home with a private outdoor space, finished basement, detached garage, and updated systems.
Where is this single family property located?
The property is located at 1721 E 31st Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,069,000.
What are key features of this property?
This property features: Brick one‑family home built in 1935 with detached garage; Top floor layout includes 3 bedrooms and a full bathroom; Middle floor open concept with living room, dining area, and modern kitchen with access to a private outdoor space
