Multifamily Home Package
For Sale
$1,800,000
2196 McDonald Ave, Brooklyn, NY 11223
Multifamily home near Avenue U, F train, and B3 Bus.
Property Size5,063 SF
Lot Size0.08 Acres
Days on Market131
Property Features for 2196 McDonald Ave
General Information
Standard status
Active
Size
5,063 SF
Lot size
0.08 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$12,408
Building Details
Building Size
5,063 SF
Year Built
1920
Stories
3
Listing Agency:
BHHS Fillmore R.E.
Listed By:
Gus Ktistakis
(718) 377-6161
Source:
Elliman
Added: Apr 28
Changed: Sep 3
Last Checked: Sep 4 at 3:11PM
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 BHHS Fillmore R.E.
Investment Insights
Based on property information with market context.
This multifamily home is being sold as a package deal with 2194 McDonald Avenue. The property, with dimensions of 45 x 75, is a 5-family building. The first building contains 3 apartments, each with 4 bedrooms, configured as 3 over 3. The second building contains 2 apartments, each with 2 bedrooms, configured as 2 bedrooms over 2 bedrooms. The property is located close to Avenue U, the F train, and the B3 Bus. This presents a great investment opportunity for an owner, user, or developer. The bike score is 58, indicating it is bikeable. The walk score is 98, designating it as a walker's paradise. The transit score is 80, indicating excellent transit options.
Key Highlights
- Package deal including 2194 McDonald Avenue
- High walk score (98) indicating a "Walker's Paradise"**
- Excellent transit score (80) with close proximity to the F train and B3 Bus
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
$154,568
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
8.59%
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%
$3,091,360
$3.1M
Cap Rate 7%
$2,208,114
$2.2M
Cap Rate 9%
$1,717,422
$1.7M
Market Conditions
NOI Build-Up for 5,063 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
$286.8K $56.64/SF
− Vacancy
−$5.7K −$1.13/SF
EGI
$281.0K $55.51/SF
− OpEx
−$126.5K −$24.98/SF
NOI
$154.6K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
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%
$3,091,360
Cap Rate 7%
$2,208,114
Cap Rate 9%
$1,717,422
Alternative Uses
Best Use
Apartment 5plus
$2.21M
$1.93M – $2.58M
NOI $154,568 @ 7.0% cap · market cap 8.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.19M
$3.67M – $4.89M
NOI $293,451 @ 7.0% cap · market cap 16.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,592
Businesses Nearby
Explore this area
Business Placement
Demographics for 11223, NY
83,519
Population
28,857
Households
2.9
Avg Household Size
37
Median Age
34%
College-Educated
78%
High-School Grad
2.1 sq mi
ZIP Area
39,771
Density / Sq Mi
$63,950
Median Household Income
$40,592
Median Earnings
$1,653
Median Rent
$1,063,200
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?
Apartment building - Multifamily home near Avenue U, F train, and B3 Bus.
Where is this apartment building located?
The property is located at 2196 McDonald Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Package deal including 2194 McDonald Avenue; High walk score (98) indicating a "Walker's Paradise"**; Excellent transit score (80) with close proximity to the F train and B3 Bus
