Brick Three-Family Income
For Sale
$2,850,000
154 Pulaski Street, Brooklyn, NY 11206
Legal three-family home with updated windows, a private fenced backyard, and a finished basement with private entrance.
Property Size3,498 SF
Price / SF$814.75
Days on Market58
Property Features for 154 Pulaski Street
General Information
Standard status
Active
Size
3,498 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Fenced Yard
Yes
Multifamily Units
3
Amenities
private fenced backyard
finished basement with private entrance
storage shed
updated windows
crown molding
sliding glass doors to backyard
Building Details
Building Size
3,498 SF
Year Built
2004
Construction
brick
Tenancy
Multi
Listing Agency:
Redfin Real Estate
Listed By:
Jason C Warner
(646) 256-7334
Source:
Carlinwright
Added: Jul 10
Changed: Aug 25
Last Checked: Sep 5 at 8:35AM
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 Redfin Real Estate
Investment Insights
Based on property information with market context.
154 Pulaski St is a well-maintained legal three-family brick home featuring updated windows throughout and easy roof access for maintenance. The property includes three spacious units: one two-bedroom, two-bath residence and two three-bedroom, two-bath residences. The owner’s unit highlights crown molding and a private entrance, along with a renovated primary bathroom and direct access from the primary bedroom to the backyard patio via sliding glass doors. A finished basement adds bonus space and includes its own private entrance, supporting a range of practical uses including recreation, a home office, or storage.
The home offers a private fenced backyard with an updated fence and a storage shed. It is currently tenant-occupied with leases in place through September 30, 2026, with the option for delivery vacant upon lease expiration or sooner if mutually agreed. The property is described as being near the G train and convenient retail and dining options.
The home offers a private fenced backyard with an updated fence and a storage shed. It is currently tenant-occupied with leases in place through September 30, 2026, with the option for delivery vacant upon lease expiration or sooner if mutually agreed. The property is described as being near the G train and convenient retail and dining options.
Key Highlights
- Legal three‑family home built in 2004 with a classic brick exterior and updated windows throughout.
- Unit mix: one 2BR/2BA and two 3BR/2BA residences.
- Tenants are in place with leases through September 30, 2026; property can be delivered vacant upon lease expiration or sooner by agreement.
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
$122,506
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
4.30%
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%
$2,450,120
$2.5M
Cap Rate 7%
$1,750,086
$1.8M
Cap Rate 9%
$1,361,178
$1.4M
Market Conditions
NOI Build-Up for 3,498 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
$178.4K $51.00/SF
− Vacancy
−$3.4K −$0.97/SF
EGI
$175.0K $50.03/SF
− OpEx
−$52.5K −$15.01/SF
NOI
$122.5K $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%
$2,450,120
Cap Rate 7%
$1,750,086
Cap Rate 9%
$1,361,178
Alternative Uses
Best Use
Multifamily LT 5
$1.75M
$1.53M – $2.04M
NOI $122,506 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$1.53M
$1.33M – $1.78M
NOI $106,790 @ 7.0% cap · market cap 3.75%
Theoretical Best
Specialty Retail
$2.90M
$2.53M – $3.38M
NOI $202,744 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
5,214
Businesses Nearby
Explore this area
Business Placement
Demographics for 11206, NY
91,549
Population
34,838
Households
2.6
Avg Household Size
30
Median Age
36%
College-Educated
77%
High-School Grad
1.4 sq mi
ZIP Area
65,392
Density / Sq Mi
$57,280
Median Household Income
$44,145
Median Earnings
$1,558
Median Rent
$822,100
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?
Triplex - Legal three-family home with updated windows, a private fenced backyard, and a finished basement with private entrance.
Where is this triplex located?
The property is located at 154 Pulaski Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: Legal three‑family home built in 2004 with a classic brick exterior and updated windows throughout.; Unit mix: one 2BR/2BA and two 3BR/2BA residences.; Tenants are in place with leases through September 30, 2026; property can be delivered vacant upon lease expiration or sooner by agreement.
