Two-Unit Townhouse with
For Sale
$1,750,000
825 E 21st St, Brooklyn, NY 11210
Free-standing two-family brick townhouse includes parking for two cars and a clean, dry basement with yard access.
Property Size2,702 SF
Days on Market108
Property Features for 825 E 21st St
General Information
Standard status
Active
Size
2,702 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Outdoor Storage
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,904
Amenities
decorative fireplace
balcony
storage shed
Building Details
Building Size
2,702 SF
Year Built
1915
Stories
3
Units
2
Tenancy
Multi
Listing Agency:
(917) 701-7340
Listed By:
Laura C Rozos
(917) 701-7340
Source:
Elliman
Added: May 9
Changed: Aug 13
Last Checked: Aug 23 at 5:46AM
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 Laura C Rozos
Investment Insights
Based on property information with market context.
A rare two-unit brick townhouse offers a free-standing layout with bright natural light through both residences. The lower unit features a large living room, a dining room sized for a table seating six or more, an updated kitchen, two bedrooms, and a full bathroom. The upper duplex includes a spacious living room with a decorative fireplace, a large dining room, a newly renovated kitchen, and a half bath off the kitchen. Upstairs also provides three bedrooms, including one with a wall of closets and access to a balcony, plus a windowed full bathroom.
The home includes a huge basement described as clean and dry, with easy access to the back yard. The yard provides parking for two cars, a large storage shed, and additional outdoor room. The property is offered for sale and is positioned near multiple subway lines, along with nearby shopping and schools referenced in the remarks.
The listing describes an extension off the upper kitchen with a kitchen window opening to the roof of the extension, which could be a straightforward conversion opportunity to a roof deck. The property is maintained as a two-family income setup or owner-occupied configuration, with parking and outdoor space for practical day-to-day use.
The home includes a huge basement described as clean and dry, with easy access to the back yard. The yard provides parking for two cars, a large storage shed, and additional outdoor room. The property is offered for sale and is positioned near multiple subway lines, along with nearby shopping and schools referenced in the remarks.
The listing describes an extension off the upper kitchen with a kitchen window opening to the roof of the extension, which could be a straightforward conversion opportunity to a roof deck. The property is maintained as a two-family income setup or owner-occupied configuration, with parking and outdoor space for practical day-to-day use.
Key Highlights
- Free‑standing two‑family brick townhouse built in 1915 in South Midwood
- Parking for two cars with back‑yard access plus a large storage shed
- Clean, dry huge basement with great ceiling height and easy access to the back yard
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
$94,629
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
5.41%
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%
$1,892,580
$1.9M
Cap Rate 7%
$1,351,843
$1.4M
Cap Rate 9%
$1,051,433
$1.1M
Market Conditions
NOI Build-Up for 2,702 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
$137.8K $51.00/SF
− Vacancy
−$2.6K −$0.97/SF
EGI
$135.2K $50.03/SF
− OpEx
−$40.6K −$15.01/SF
NOI
$94.6K $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%
$1,892,580
Cap Rate 7%
$1,351,843
Cap Rate 9%
$1,051,433
Alternative Uses
Best Use
Multifamily LT 5
$1.35M
$1.18M – $1.58M
NOI $94,629 @ 7.0% cap · market cap 5.41%
Second Best
Apartment 5plus
$1.18M
$1.03M – $1.37M
NOI $82,489 @ 7.0% cap · market cap 4.71%
Theoretical Best
Specialty Retail
$2.24M
$1.96M – $2.61M
NOI $156,608 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,842
Businesses Nearby
Explore this area
Business Placement
Demographics for 11210, NY
62,805
Population
22,817
Households
2.8
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
39,253
Density / Sq Mi
$83,261
Median Household Income
$50,286
Median Earnings
$1,734
Median Rent
$817,600
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 - Free-standing two-family brick townhouse includes parking for two cars and a clean, dry basement with yard access.
Where is this duplex located?
The property is located at 825 E 21st St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Free‑standing two‑family brick townhouse built in 1915 in South Midwood; Parking for two cars with back‑yard access plus a large storage shed; Clean, dry huge basement with great ceiling height and easy access to the back yard
