Renovated Duplex with Finished
For Sale
$1,650,000
2667 Cropsey Avenue, Brooklyn, NY 11214
Residential Income, Brooklyn, NY
Property Size2,160 SF
Lot Size0.07 Acres
Price / SF$763.89
Days on Market116
Property Features for 2667 Cropsey Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R5
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Rooms
Bedroom 5, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 3, Bedroom 3, Bedroom 2
Parking features
Driveway
Patio and Porch features
Patio
Interior features
Walk-In Closet(s), Ceiling Fan(s)
Exterior features
Balcony
Fencing
Fenced
Basement
Finished, Full
Lot features
Front Yard, Back Yard
Subdivision
Bath Beach
Standard status
Active
Size
2,160 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
6763
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Cooling system
Wall Unit(s)
Amenities
yard
laundry
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Building materials
Vinyl Siding
Listing Agency:
Robert DeFalco Realty, Inc.
(718) 987-7900
Listed By:
Maged Girgis · License #30GI0978737
(347) 524-9029
Added: May 29
Changed: Sep 13
Last Checked: Sep 21 at 9:06PM
MLS# 2603018
Copyright © 2026 Staten Island Board of Realtors. 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 legal two-family property offers 2,160 square feet on a 0.0663-acre corner lot and is scheduled for delivery vacant. The home was fully gut renovated in 2005 and includes a finished basement with a separate side entrance, living space, wet bar, 3/4 bathroom, office, utilities, and laundry. The first level has hardwood floors, a large living room, dining room, office, bedroom, and eat-in kitchen with access to the yard. The second apartment includes four bedrooms, a full bathroom, eat-in kitchen, dining area, and two balconies.
Exterior features include a fenced yard, patio, vinyl siding, and a three-car driveway. The property has R5 zoning, public sewer, hot-water heating with natural gas, and wall-unit cooling. Built in 1930, it is near Caesar's Bay shopping, schools, transportation, and the highway.
Exterior features include a fenced yard, patio, vinyl siding, and a three-car driveway. The property has R5 zoning, public sewer, hot-water heating with natural gas, and wall-unit cooling. Built in 1930, it is near Caesar's Bay shopping, schools, transportation, and the highway.
Key Highlights
- Legal two‑family property with 2,160 square feet of building area
- 0.0663‑acre corner lot with fenced yard and three‑car driveway
- Fully gut renovated in 2005
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
$58,914
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
3.57%
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%
$1,178,280
$1.2M
Cap Rate 7%
$841,629
$841.6K
Cap Rate 9%
$654,600
$654.6K
Market Conditions
NOI Build-Up for 2,160 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
$88.1K $40.80/SF
− Vacancy
−$4.0K −$1.84/SF
EGI
$84.2K $38.96/SF
− OpEx
−$25.2K −$11.69/SF
NOI
$58.9K $27.27/SF
Area
ZIP 11214
Vacancy
4.50%
Lease Rate
$40.80 /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%
$1,178,280
Cap Rate 7%
$841,629
Cap Rate 9%
$654,600
Alternative Uses
Best Use
Multifamily LT 5
$841.6K
$736.4K – $981.9K
NOI $58,914 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$754.3K
$660.0K – $880.0K
NOI $52,800 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,203 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,311
Businesses Nearby
Explore this area
Business Placement
Demographics for 11214, NY
96,560
Population
33,341
Households
2.9
Avg Household Size
39
Median Age
32%
College-Educated
76%
High-School Grad
2.0 sq mi
ZIP Area
48,280
Density / Sq Mi
$64,286
Median Household Income
$41,172
Median Earnings
$1,710
Median Rent
$1,007,400
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?
Duplex - Legal two-family residence delivered vacant with a fenced yard, driveway parking, balconies, and flexible living areas.
Where is this duplex located?
The property is located at 2667 Cropsey Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Legal two‑family property with 2,160 square feet of building area; 0.0663‑acre corner lot with fenced yard and three‑car driveway; Fully gut renovated in 2005
