Brick Triplex with
For Sale
$925,000
2190 Schenectady Avenue, Brooklyn, NY 11234
Residential, Triplex, Brooklyn, NY
Property Size1,900 SF
Lot Size0.05 Acres
Price / SF$486.84
Days on Market154
Property Features for 2190 Schenectady Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R3-2
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bathroom 3
Parking features
Garage
Interior features
Microwave, Refrigerator, Stove
Basement
Finished
Subdivision
Old Mill Basin
Standard status
Active
Size
1,900 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
7775
Amenities
private yard
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Ceramic, Laminate, Hardwood
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
GEO Real Estate Group Inc
Listed By:
Gene (Eugene) Burshtein
(718) 338-8833
Added: Apr 22
Changed: Sep 15
Last Checked: Sep 22 at 2:06PM
MLS# 500777
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 1,900-square-foot brick triplex, built in 1920, offers a three-bedroom unit, another three-bedroom unit, and a one-bedroom walk-in apartment. The top floor is slated for vacancy, while the middle floor is currently occupied. A private yard and attached garage add useful exterior and parking features. Interior improvements include recent renovation and cosmetic upgrades, with hardwood, laminate, and ceramic flooring across the property. The kitchens include microwaves, refrigerators, and stoves, and the building has three bathrooms.
The property is located on Schenectady Avenue in Flatlands, Brooklyn, within the 11234 ZIP code. It sits on a 0.0459-acre lot and carries R3-2 zoning. The combination of three residential configurations, garage parking, yard space, and a vacant upper floor provides a clearly defined multifamily layout for review.
The property is located on Schenectady Avenue in Flatlands, Brooklyn, within the 11234 ZIP code. It sits on a 0.0459-acre lot and carries R3-2 zoning. The combination of three residential configurations, garage parking, yard space, and a vacant upper floor provides a clearly defined multifamily layout for review.
Key Highlights
- 1,900 square feet on a 0.0459‑acre lot
- Three‑unit layout with 3Bed/3Bed/1Bed Walk In configuration
- Top floor will be delivered vacant
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
$66,541
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
7.19%
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%
$1,330,820
$1.3M
Cap Rate 7%
$950,586
$950.6K
Cap Rate 9%
$739,344
$739.3K
Market Conditions
NOI Build-Up for 1,900 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
$96.9K $51.00/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$95.1K $50.03/SF
− OpEx
−$28.5K −$15.01/SF
NOI
$66.5K $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%
$1,330,820
Cap Rate 7%
$950,586
Cap Rate 9%
$739,344
Alternative Uses
Best Use
Multifamily LT 5
$950.6K
$831.8K – $1.11M
NOI $66,541 @ 7.0% cap · market cap 7.19%
Second Best
Apartment 5plus
$828.6K
$725.1K – $966.8K
NOI $58,005 @ 7.0% cap · market cap 6.27%
Theoretical Best
Specialty Retail
$1.57M
$1.38M – $1.84M
NOI $110,124 @ 7.0% cap · market cap 11.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,994
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
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential levels include varied bedroom layouts, a private yard, and a garage in Flatlands Brooklyn.
Where is this triplex located?
The property is located at 2190 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: 1,900 square feet on a 0.0459‑acre lot; Three‑unit layout with 3Bed/3Bed/1Bed Walk In configuration; Top floor will be delivered vacant
