Fully Renovated Two-Family
For Sale
$1,538,800
2230 National Drive, Brooklyn, NY 11234
MULTI_FAMILY - Brooklyn, NY
Property Size2,424 SF
Lot Size0.07 Acres
Price / SF$634.82
Days on Market90
Property Features for 2230 National Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 5, Bedroom 3, Bedroom 1, Bathroom 3
Patio and Porch features
Deck
Interior features
Alarm, Central Air, Deck, Dryer, Laundry Area, Microwave, Refrigerator, Stove, Terrace, Washer
Subdivision
Mill Basin
Standard status
Active
Size
2,424 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
10967
Utilities
Water front
1
Building Details
Year built
1970
Floors in Building
2
Number of units
2
Flooring type
Hardwood
Building materials
Brick
Listing Agency:
Bergen Basin Realty LLC
(718) 763-4110
Listed By:
Tammy Barmack
(718) 763-4110
Added: May 14
Changed: Aug 10
Last Checked: Aug 11 at 9:06PM
MLS# 501401
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.
Fully renovated two-family all-brick duplex delivered vacant and ready for its next owner. The home sits on a 24 x 100 lot and features a spacious layout with three bedrooms over two oversized bedrooms, 3 full bathrooms, and a full finished basement that can serve as extra space or a home office. The property is delivered vacant.
Interior amenities include central air and an alarm system, along with hardwood flooring. Daily living is supported by an in-home laundry area and included kitchen appliances and fixtures such as a microwave, refrigerator, and stove. Outdoor space features a deck and terrace.
Built in 1970, the property offers a durable brick exterior and a practical two-family configuration designed for either owner-occupant use or residential income needs.
Interior amenities include central air and an alarm system, along with hardwood flooring. Daily living is supported by an in-home laundry area and included kitchen appliances and fixtures such as a microwave, refrigerator, and stove. Outdoor space features a deck and terrace.
Built in 1970, the property offers a durable brick exterior and a practical two-family configuration designed for either owner-occupant use or residential income needs.
Key Highlights
- Delivered vacant and ready for the next owner
- 24 x 100 lot for this two‑family all‑brick duplex
- 3 bedrooms over two oversized bedrooms plus a full finished basement
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
$84,893
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
5.52%
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%
$1,697,860
$1.7M
Cap Rate 7%
$1,212,757
$1.2M
Cap Rate 9%
$943,256
$943.3K
Market Conditions
NOI Build-Up for 2,424 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
$123.6K $51.00/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$121.3K $50.03/SF
− OpEx
−$36.4K −$15.01/SF
NOI
$84.9K $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%
$1,697,860
Cap Rate 7%
$1,212,757
Cap Rate 9%
$943,256
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,893 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$1.06M
$925.0K – $1.23M
NOI $74,002 @ 7.0% cap · market cap 4.81%
Theoretical Best
Specialty Retail
$2.01M
$1.76M – $2.34M
NOI $140,495 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,084
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
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 - Fully renovated two-family brick duplex delivered vacant and ready, with central air and a finished basement for flexible space.
Where is this duplex located?
The property is located at 2230 National Drive Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,538,800.
What are key features of this property?
This property features: Delivered vacant and ready for the next owner; 24 x 100 lot for this two‑family all‑brick duplex; 3 bedrooms over two oversized bedrooms plus a full finished basement
