Renovation-Ready Two-Family
For Sale
$750,000
Pending
160 E 31ST St, Brooklyn, NY 11226
Brick duplex with a backyard, separate apartment, and flexible residential layout near multiple subway and bus routes.
Property Size786 SF
Days on Market124
Property Features for 160 E 31ST St
General Information
Standard status
Pending
Size
786 SF
Property subtype
Multi Family
Property Condition
Severity
Major Repairs Needed
Evidence
would benefit from a full renovation
Units
Unit Mix
1 x 4BR/1.5BA duplex, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,648
Amenities
backyard
Building Details
Building Size
786 SF
Year Built
1910
Buildings
1
Stories
2
Units
2
Construction
brick
Listing Agency:
Douglas Elliman Real Estate
Listed By:
David Malkoukian
(347) 828-1045
Source:
Elliman
Added: May 9
Changed: Sep 8
Last Checked: Sep 8 at 5:03AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
160 E 31st St is a two-family brick duplex in Brooklyn with approximately 2,400 square feet, five bedrooms, and two-and-a-half bathrooms. The upper duplex contains four bedrooms and one-and-a-half bathrooms, with direct access to the backyard. A separate lower apartment provides one bedroom and one bathroom. The property requires a full renovation and offers generous room sizes and natural light for a redesigned residential layout.
Transit access includes the 2 and 5 subway lines at Newkirk Avenue-Little Haiti station and the B and Q lines at Church Avenue station. The B8, B44, and B35 bus routes are also nearby. Key Food, Associated Supermarkets, ShopRite, neighborhood restaurants, coffee shops, local services, and nearby parks serve the surrounding area. The property was built in 1910.
Transit access includes the 2 and 5 subway lines at Newkirk Avenue-Little Haiti station and the B and Q lines at Church Avenue station. The B8, B44, and B35 bus routes are also nearby. Key Food, Associated Supermarkets, ShopRite, neighborhood restaurants, coffee shops, local services, and nearby parks serve the surrounding area. The property was built in 1910.
Key Highlights
- Two‑family brick duplex at 160 E 31st St, Brooklyn, NY 11226
- Approximately 2,400 square feet with five bedrooms and two‑and‑a‑half bathrooms
- Upper duplex includes four bedrooms, one‑and‑a‑half bathrooms, and direct backyard access
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
$60,837
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
8.11%
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%
$1,216,740
$1.2M
Cap Rate 7%
$869,100
$869.1K
Cap Rate 9%
$675,967
$676.0K
Market Conditions
NOI Build-Up for 2,400 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
$90.7K $37.80/SF
− Vacancy
−$3.8K −$1.59/SF
EGI
$86.9K $36.21/SF
− OpEx
−$26.1K −$10.86/SF
NOI
$60.8K $25.35/SF
Area
ZIP 11226
Vacancy
4.20%
Lease Rate
$37.80 /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%
$1,216,740
Cap Rate 7%
$869,100
Cap Rate 9%
$675,967
Alternative Uses
Best Use
Multifamily LT 5
$869.1K
$760.5K – $1.01M
NOI $60,837 @ 7.0% cap · market cap 8.11%
Second Best
Apartment 5plus
$803.8K
$703.3K – $937.7K
NOI $56,264 @ 7.0% cap · market cap 7.50%
Theoretical Best
Office A
$1.19M
$1.04M – $1.38M
NOI $83,036 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,529
Businesses Nearby
Explore this area
Business Placement
Demographics for 11226, NY
101,727
Population
42,618
Households
2.4
Avg Household Size
37
Median Age
36%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
78,252
Density / Sq Mi
$81,084
Median Household Income
$49,892
Median Earnings
$1,751
Median Rent
$866,300
Median Home Value
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 - Brick duplex with a backyard, separate apartment, and flexible residential layout near multiple subway and bus routes.
Where is this duplex located?
The property is located at 160 E 31ST St Brooklyn, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two‑family brick duplex at 160 E 31st St, Brooklyn, NY 11226; Approximately 2,400 square feet with five bedrooms and two‑and‑a‑half bathrooms; Upper duplex includes four bedrooms, one‑and‑a‑half bathrooms, and direct backyard access
