Two-Family Duplex with Detached
For Sale
$1,375,000
2331 FOSTER Ave, Brooklyn, NY 11210
Vacant two-apartment residence with outdoor areas, a semi-finished basement, and flexible parking and workspace options.
Property Size2,436 SF
Price / SF$404.41
Days on Market12
Property Features for 2331 FOSTER Ave
General Information
Standard status
Active
Size
2,436 SF
Total Parking Spaces
6
Property subtype
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
needs some TLC
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Additional Details
Furnished
No
Taxes and HOA fees
Annual Taxes
$6,948
Amenities
screened porch
rear deck
upper balcony
private rear balcony
laundry facilities
front yard
rear yard
Building Details
Building Size
2,436 SF
Year Built
1910
Buildings
1
Units
2
Listed By:
Peter J Poljan
(718) 484-4776
Source:
Elliman
Added: Sep 11
Changed: Sep 21
Last Checked: Sep 21 at 7:50AM
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 Peter J Poljan
Investment Insights
Based on property information with market context.
Built in 1910, this two-family duplex is arranged as separate main- and upper-level apartments and will be delivered vacant. The main apartment includes two bedrooms, one bathroom, an open kitchen, living and dining areas, and original coffered ceiling detail. The upper apartment contains three bedrooms, two bathrooms, a coffered living area, stained-glass windows, and a private rear balcony. Original moldings and casings continue throughout the residence.
The approximately 2,400-square-foot home includes an approximately 1,000-square-foot semi-finished basement with two bathrooms and laundry facilities. Set on a double lot, the property offers front and rear yards, a screened porch, rear deck, and a detached two-car garage. A private driveway provides parking for up to four cars. The property is approximately 0.3 miles from the 2/5 trains at Newkirk Avenue and approximately 0.5 miles from the B/Q trains at Newkirk Plaza. Walk Score is 91, Transit Score is 96, and Bike Score is 66.
The approximately 2,400-square-foot home includes an approximately 1,000-square-foot semi-finished basement with two bathrooms and laundry facilities. Set on a double lot, the property offers front and rear yards, a screened porch, rear deck, and a detached two-car garage. A private driveway provides parking for up to four cars. The property is approximately 0.3 miles from the 2/5 trains at Newkirk Avenue and approximately 0.5 miles from the B/Q trains at Newkirk Plaza. Walk Score is 91, Transit Score is 96, and Bike Score is 66.
Key Highlights
- Two‑family duplex with five bedrooms and three bathrooms across the main and upper apartments
- Approximately 2,400 square feet plus an approximately 1,000‑square‑foot semi‑finished basement
- Double‑width parcel with front and rear yards, screened porch, rear deck, and upper balcony
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
$119,074
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
8.66%
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%
$2,381,480
$2.4M
Cap Rate 7%
$1,701,057
$1.7M
Cap Rate 9%
$1,323,044
$1.3M
Market Conditions
NOI Build-Up for 3,400 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
$173.4K $51.00/SF
− Vacancy
−$3.3K −$0.97/SF
EGI
$170.1K $50.03/SF
− OpEx
−$51.0K −$15.01/SF
NOI
$119.1K $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%
$2,381,480
Cap Rate 7%
$1,701,057
Cap Rate 9%
$1,323,044
Alternative Uses
Best Use
Multifamily LT 5
$1.70M
$1.49M – $1.98M
NOI $119,074 @ 7.0% cap · market cap 8.66%
Second Best
Apartment 5plus
$1.48M
$1.30M – $1.73M
NOI $103,798 @ 7.0% cap · market cap 7.55%
Theoretical Best
Specialty Retail
$2.82M
$2.46M – $3.28M
NOI $197,064 @ 7.0% cap · market cap 14.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,414
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Vacant two-apartment residence with outdoor areas, a semi-finished basement, and flexible parking and workspace options.
Where is this duplex located?
The property is located at 2331 FOSTER Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Two‑family duplex with five bedrooms and three bathrooms across the main and upper apartments; Approximately 2,400 square feet plus an approximately 1,000‑square‑foot semi‑finished basement; Double‑width parcel with front and rear yards, screened porch, rear deck, and upper balcony
