Modern Brooklyn Two-Family
291 Palmetto Street Brooklyn, NY 11237
MULTI_FAMILY - Brooklyn, NY
Property size:
2,766 SFLot size:
0.05 AcresPrice / SF:
$498/SF- Added:
- May 12, 2026
- Days on Market:
- 60
- Last Refresh:
- Jul 10 at 5:06 pm
Property Features for 291 Palmetto Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bathrooms
- 3
- Rooms
- Bathroom 1, Bathroom 3, Bathroom 2
- Parking features
- Carport
- Basement
- Finished
- Standard status
- Active
- Size
- 2,766 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Annual Amount
- 6772
Listing agent Yi (Winnie) Lu (718) 680-2776
Listing office E House Realty & Mgt. Inc. 6005 7th Avenue, Brooklyn, NY (718) 680-2776
Listing date May 12, 2026
MLS# 501356
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.
Investment Insights
Based on property information with market context.
This modern, three-story, all-brick, two-family townhouse was built in 2011 and offers versatility and rental potential. The property features a spacious layout with a fully finished basement level and a separate entrance. The property has a private parking space and low carrying costs, with annual taxes of $6,800. The property is located minutes from the L train and a high-rated middle school. Reliable tenants are currently in place, and the building can be delivered vacant. The lot size is 0.0459 acres, and the property size is 2,766 square feet.
Key Highlights
- Built in 2011, 3‑story all‑brick 2‑family townhouse with a fully finished basement level
- Basement includes a separate entrance, offering flexible extra space or storage potential
- Private parking space plus carport parking
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $141.1k | $51.00 |
| − Vacancy | −$2.7k | −$0.97 |
| EGI | $138.4k | $50.03 |
| − OpEx | −$41.5k | −$15.01 |
| NOI | $96.9k | $35.02 |
2,766 SF · lease $51.00/SF/yr · vacancy 1.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.38M
$1.21M – $1.61M
NOI $96,870 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,443 @ 7.0% cap · market cap 6.12%
Theoretical Best
Specialty Retail
$2.29M
$2.00M – $2.67M
NOI $160,317 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-family townhouse in Brooklyn with parking and low taxes.
Where is this duplex located?
The property is located at 291 Palmetto Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,380,000.
What are key features of this property?
This property features: Built in 2011, 3‑story all‑brick 2‑family townhouse with a fully finished basement level; Basement includes a separate entrance, offering flexible extra space or storage potential; Private parking space plus carport parking
