Updated Two-Family Townhouse in Lefferts
For Sale
$2,499,500
Pending
340 LINCOLN Rd, Brooklyn, NY 11225
Renovated 2-family townhouse near Prospect Park and subway.
Property Size2,964 SF
Lot Size0.05 Acres
Days on Market179
Property Features for 340 LINCOLN Rd
General Information
Standard status
Pending
Size
2,964 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$7,188
Building Details
Building Size
2,964 SF
Year Built
1905
Units
2
Listing Agency:
Corcoran Group
Listed By:
Deborah Lee Rieders · License #30RI0955004 (NY)
(917) 494-2503
Source:
Elliman
Added: Mar 11
Changed: Aug 27
Last Checked: Sep 4 at 3:56PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Corcoran Group
Investment Insights
Based on property information with market context.
This updated two-family townhouse is located on a tree-lined block in Lefferts Gardens, near Prospect Park and the 2/5 subway lines. The three-story home features restored historic details and modern amenities. The owner's upper duplex includes 4 bedrooms, 2 full baths, a parlor guest bathroom, and a bedroom with backyard access. The main floor features a center kitchen, front living room, back dining area, and an additional bedroom suitable for a home office. The kitchen includes custom sage green lacquer cabinetry, two islands, honed Carrara marble countertops, and Bertazzoni stainless steel appliances, including a 5-burner gas range, a 36" fridge with double freezer drawers, and aged brass handles and faucet. The living room features an original fireplace mantle. New white oak hardwood floors are laid in a traditional bordered design. A powder room includes Kohler fixtures, brass lighting, and aged brass fixtures. The top floor offers four bedrooms, two full baths, and a skylit laundry room with full-sized vented machines. The primary suite includes a walk-in closet and garden-facing views. The primary bathroom features Carrara marble, a glass-enclosed double-wide shower with a marble bench, and a 63" marble-topped walnut double vanity with aged brass fixtures. Additional bedrooms include skylights, closets, and overhead lighting. The lower level, with a separate entrance, offers a loft-like studio apartment. The property includes new central cooling and heating, plumbing, windows, electric, fence, doors, and a resurfaced roof with new skylights.
Key Highlights
- Fully updated 2‑family townhouse with new kitchens, baths, and mechanicals.
- Prime Lefferts Gardens location near Prospect Park and 2/5 subway lines.
- Spacious owner's upper duplex with 4 bedrooms, 2 full baths, and a parlor guest bathroom.
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
$103,804
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
4.15%
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%
$2,076,080
$2.1M
Cap Rate 7%
$1,482,914
$1.5M
Cap Rate 9%
$1,153,378
$1.2M
Market Conditions
NOI Build-Up for 2,964 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
$151.2K $51.00/SF
− Vacancy
−$2.9K −$0.97/SF
EGI
$148.3K $50.03/SF
− OpEx
−$44.5K −$15.01/SF
NOI
$103.8K $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%
$2,076,080
Cap Rate 7%
$1,482,914
Cap Rate 9%
$1,153,378
Alternative Uses
Best Use
Multifamily LT 5
$1.48M
$1.30M – $1.73M
NOI $103,804 @ 7.0% cap · market cap 4.15%
Second Best
Apartment 5plus
$1.29M
$1.13M – $1.51M
NOI $90,488 @ 7.0% cap · market cap 3.62%
Theoretical Best
Specialty Retail
$2.45M
$2.15M – $2.86M
NOI $171,793 @ 7.0% cap · market cap 6.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,522
Businesses Nearby
Explore this area
Business Placement
Demographics for 11225, NY
58,786
Population
26,703
Households
2.2
Avg Household Size
36
Median Age
48%
College-Educated
89%
High-School Grad
0.9 sq mi
ZIP Area
65,318
Density / Sq Mi
$85,201
Median Household Income
$54,639
Median Earnings
$1,733
Median Rent
$1,218,300
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 - Renovated 2-family townhouse near Prospect Park and subway.
Where is this duplex located?
The property is located at 340 LINCOLN Rd Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,499,500.
What are key features of this property?
This property features: Fully updated 2‑family townhouse with new kitchens, baths, and mechanicals.; Prime Lefferts Gardens location near Prospect Park and 2/5 subway lines.; Spacious owner's upper duplex with **4 bedrooms, 2 full baths**, and a parlor guest bathroom.
